Section 8 Fair Market Rent (FMR) for ZIP 83206 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 83206, located in Pocatello County, Idaho, operate under specific financial guidelines that landlords must understand to manage their properties effectively. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $990. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards rent for a two-bedroom unit in this specific area.

To clarify the payment process, the total rent charged to a tenant using a Section 8 voucher is typically split into two parts: the tenant's contribution and the government's subsidy. The tenant is required to pay 30% of their adjusted income towards rent. For instance, if a tenant has an adjusted monthly income of $1,000, they would contribute $300 towards the rent. The remaining balance, up to the SAFMR of $990, is then covered by the government through the voucher program.

In addition to the base rent, the voucher also includes allowances for utilities, which can vary based on the household size and local utility costs. These allowances are designed to cover the cost of electricity, gas, water, and sewer. However, the exact amount of these utility allowances is not provided in the data for ZIP 83206, making it necessary for landlords to consult the local housing authority for precise figures.

Given that the local market rent for a two-bedroom apartment is not available, we cannot provide a direct comparison to the SAFMR. Nonetheless, the reimbursement from the Section 8 program is capped at $990, meaning that landlords should ensure that their rental rates do not exceed this amount to receive full reimbursement. If the market rent were higher than $990, landlords would face a reimbursement gap, where they would need to subsidize the difference between the market rent and the voucher reimbursement.

For example, if the market rent for a two-bedroom apartment in ZIP 83206 is $1,200, and the government reimburses up to $990, the landlord would have to absorb the additional $210 per month as a reimbursement gap. Conversely, if the market rent is lower than $990, landlords might see a surplus in their reimbursement, allowing them to either keep the extra funds or reinvest them into property improvements.

In conclusion, landlords in ZIP 83206 participating in the Section 8 program can expect to be reimbursed up to $990 for a two-bedroom apartment, plus any applicable utility allowances. The reimbursement gap or surplus will depend on the actual market rent compared to the SAFMR.

Data Sources: FMR data from HUD (2027).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.