Idaho Rental Costs

The National Low Income Housing Coalition has produced a nationwide report analyzing and comparing the cost of rent to wages. The Idaho State highlights are below.

Statewide:

• $13.56: Fair Housing Wage (wage necessary to afford Fair Market Rent (hereafter "FMR") without paying more than 30% of income to rent & utilities)
• 75: Work hours per week at minimum wage to afford Rent (FMR).
• 1.9: number of full-time jobs at minimum wage to afford Rent (FMR).
• 2 Bedroom FMR: $705.00
• $2,351.00: Monthly ($28,214.00 annually) income necessary for FMR to be affordable.

Latah County:

• $12.88: Fair Housing Wage (wage necessary to afford Fair Market Rent (hereafter "FMR") without paying more than 30% of income to rent & utilities)
• 1.8: number of full-time jobs at minimum wage to afford Rent (FMR).
• 2 Bedroom FMR: $670.00
• $2,233.33: Monthly ($26,800.00 annually) income necessary for FMR to be affordable.

Fair Market Rent (including utilities) is the cost for a two-bedroom apartment, i.e. $705.00 statewide and $670.00 in Latah County.

Affordability is defined as the ability of a renter to pay no more than 30% of its income on housing (including utilities), this is the federal standard for affordability.