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City · 5,928 residents · Franklin County, Idaho

Preston , Idaho

In Preston, a typical home is worth $350,300 and typical rent is $811 a month. Compared with all of Franklin County, typical household income is 15% lower, typical rent is 9% lower, and the share of households that own their home is 9 points lower.

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  • Typical home value

    $350,300

    6% below the county

    16% below Idaho

    • Preston
    • Franklin
    • Idaho

  • Typical rent

    $811a month

    9% below the county

    34% below Idaho

    • Preston
    • Franklin
    • Idaho

  • Typical household income

    $61,039a year

    15% below the county

    22% below Idaho

    • Preston
    • Franklin
    • Idaho

  • Households that own their home

    69%

    9 points below the county

    3 points below Idaho

    • Preston
    • Franklin
    • Idaho

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$429,168
2.1% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Preston is in Franklin County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Franklin County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Preston apart

What this place has that others do not, from public data, most unusual first.

  1. Preston has the 2nd lowest typical rent of the 36 cities in Idaho with more than 5,000 people ($811).

  2. Nearby, in Blackfoot, the typical home value is $262,500: 25% less than in Preston ($350,300).

  3. The typical household income in Preston is $61,039, 15% less than in Franklin County as a whole ($71,950).

  4. 69% of households in Preston own their home, against 78% in Franklin County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Preston

What homes there are in Preston, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses are the majority in Preston (78%), but less so than in Franklin County (88%).

Year built

Homes in Preston are older: the typical year built is 1965; in Franklin County, 1975.

There are fewer big homes in Preston than in Franklin County: 61% have 3 bedrooms or more, against 75%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,385 a month

Franklin County: $1,587 a month

Without a mortgage

$448 a month

Franklin County: $455 a month

Owners with a mortgage

62%

Franklin County: 58%

The typical cost for an owner with a mortgage in Preston is $1,385 a month, less than in Franklin County ($1,587); without one, $448.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Preston gained value faster than in Franklin County: 108% against 76%.

Since 2015–2019, the typical rent in Preston did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasurePrestonFranklin CountyIdahoUnited States
Rental vacancy Unreliable estimateUnreliable estimate3.9%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.7%0.9%
More than one person per room Unreliable estimateUnreliable estimate3.1%3.4%
People per household 2.803.042.642.53
Drive alone 79%75%73%69%
Carpool Unreliable estimate8%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate4%3%3%
Work from home Unreliable estimate12%13%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimateUnreliable estimate10 to 19 minutes20 to 29 minutes

Households in Preston are smaller: 2.80 people on average; in Franklin County, 3.04.

To get to work, 79% of workers in Preston drive alone; in Franklin County, 75%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Preston?

A typical home costs more than the typical income allows

We start with a typical home in Preston, worth $350,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 54% of the typical household income in Preston, which is $61,039 a year. For that payment to be 28% of income, a household would need to earn about $118,385 a year.

The calculator's FHA and conventional loan limits are those of all of Franklin County.

Your numbers

Local data
$

Starts at the typical home value in Preston. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,261 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,762

at 7.18% · 30 years

Loan amount
$343,955
Total interest
$494,870
Paid off in
November 2056

Includes $5,916 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,424 a month

  • Tight

    $1,424 to $1,831 a month

  • Hard

    more than $1,831 a month

    Your payment · 54%

Compared with the typical household income in Preston ($61,039 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,762
Principal & interest$2,330
Property tax$131
Home insurance$146
FHA mortgage insurance (MIP)$155

You need at least $12,261 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Preston and Franklin County

Preston is in Franklin County, Idaho. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Preston's own numbers

Typical home value
$350,300
Typical monthly rent
$811
Typical yearly household income
$61,039
Households that own their home
69%
Effective property tax rate
0.45%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Franklin County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,265
Price change over 5 years (FHFA)
+78%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Franklin County.

Everything about Franklin County

Buying

Buying a home in Preston

A typical home in Preston is worth $350,300: 6% below the county and 16% below Idaho. With the typical household income in Preston ($61,039 a year), a typical home costs 5.7 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Preston 5.7 years
  • Franklin 5.2 years
  • Idaho 5.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Franklin County

According to FHFA’s house price index, home prices in Franklin County rose 160% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Franklin County.

Period County Idaho U.S.
Last year (2025) +2.4% +2.3% +2.9%
5 years (2020–2025) +78% +57% +47%
10 years (2015–2025) +160% +149% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Preston next to Franklin County, Idaho and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Preston $350,300
  • Franklin $372,600
  • Idaho $418,600
  • United States $332,700
Typical monthly rent
  • Preston $811
  • Franklin $894
  • Idaho $1,238
  • United States $1,413
Typical yearly household income
  • Preston $61,039
  • Franklin $71,950
  • Idaho $77,800
  • United States $80,734
See the full table
Preston next to Franklin County and Idaho
Measure Preston Franklin County Idaho U.S.
Typical home value $350,300 $372,600 $418,600 $332,700
Typical monthly rent $811 $894 $1,238 $1,413
Typical yearly household income $61,039 $71,950 $77,800 $80,734
Households that own their home 69% 78% 72% 65%
Typical yearly property tax $1,587 $1,482 $2,038 $3,119
Effective property tax rate 0.45% 0.4% 0.49% 0.94%
Renters with high rent for their income 34% 36% 47% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Franklin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Preston

For a typical $350,300 home in Preston, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Preston's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,762a month

    Least cash to close
    Down payment
    $12,261
    Cash to close
    $22,770
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $155

  • Conventional, 5% down $2,698a month

    Down payment
    $17,515
    Cash to close
    $28,024
    Rate
    7.18%
    Mortgage insurance
    PMI · $166

  • Conventional, 20% down, no PMI $2,176a month

    Down payment
    $70,060
    Cash to close
    $80,569
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,500a month

    Down payment
    $52,545
    Cash to close
    $63,054
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Preston and for Franklin County.

Property tax

Effective rate in Preston

0.45%of the home’s value each year

$1,587 a year for the typical owner in Preston.

  • Preston 0.45%
  • Franklin 0.4%
  • Idaho 0.49%

What Idaho publishes Homeowner’s exemption (Idaho State Tax Commission)

Exemptions and deadlines in Idaho

Flood risk in Franklin County

FEMA does not publish these numbers by city: they are for all of Franklin County.

FEMA’s maps count no homes in the high-risk zone in Franklin County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Preston

Typical rent in Preston is $811 a month: 9% below the county. In Preston, 34% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Franklin County, by unit size. To pay the 2-bedroom one ($1,265 a month) without spending more than 30% of your income, you would need to earn $24.33 an hour working full time.

HUD fair market rent for all of Franklin County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $961 $18.48 $38,440
1 bedroom $967 $18.60 $38,680
2 bedrooms $1,265 $24.33 $50,600
3 bedrooms $1,752 $33.69 $70,080
4 bedrooms $2,104 $40.46 $84,160

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Preston

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Preston is in ZIP code 83263.

For 2 bedrooms it is $1,120: $145 less than the fair market rent for Franklin County ($1,265).

  • 83263 $1,120$1,560

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Preston when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Preston

HUD lists 2 buildings with rents for lower incomes in Preston. These are the largest.

  • Preston Senior Housing 250A N State St, Preston 83263 14 low-income homes · For older adults (208) 852-6938
  • Cedarwood Apartments 257 N 2nd E, Preston 83263 24 homes, 12 low-income · For families (208) 221-7111

See all 2 buildings in Franklin County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Preston

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Franklin County. The nearest ones are below; many serve by phone or online.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Preston

No down payment, repair or rent-help program on our list is for Preston or Franklin County. The ones below are statewide in Idaho: they work in Preston the same as in the rest of the state.

Which programs do I qualify for? All programs in Idaho

Housing counselors near Preston

The HUD-approved agencies closest to the center of Preston, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Pocatello Neighborhood Housing Services, Inc DBA Neighborworks Pocatello

    206 N Arthur Ave, Pocatello · 60 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    (208) 232-9468

  • Idaho Housing and Finance Assocation--Idaho Falls Branch Office

    1235 Jones St, Idaho Falls · 97 miles away · Spanish

    • Mortgage delinquency and default
    • Homelessness services
    • and 4 more
    (866) 684-3756

  • Idaho Housing and Finance Association--Twin Falls Branch Office

    841 Meadows Dr, Twin Falls · 137 miles away · Spanish

    • Mortgage delinquency and default
    • Homelessness services
    • and 4 more
    (866) 234-3435

All counseling agencies in Idaho

Help in Spanish near Preston

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Preston

HUD lists no housing authority with an office in Franklin County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Idaho Source: HUD

Cities

Nearby cities

The cities closest to Preston, with the typical home value.

Everything about Franklin County Housing in Idaho

Neighboring counties

If Franklin County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Preston.

All guides
Two parents walk hand in hand with their little daughter.

Questions

Housing questions about Preston

Short answers with the numbers for Preston and all of Franklin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Preston?

The typical home value in Preston is $350,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Franklin County it is $372,600.

How much does it cost to rent in Preston?

Typical rent in Preston is $811 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Franklin County is $1,265.

What is the FHA loan limit in Preston?

Preston uses the FHA limit for all of Franklin County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Preston?

The typical homeowner in Preston pays $1,587 a year, according to the U.S. Census Bureau. That is 0.45% of the home’s value; in Franklin County, the rate is 0.4%.

Where can I find free help to buy or rent in Preston?

We found no HUD-approved counseling agencies with an office in Franklin County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).