Location: Bear Lake County, ID | Metro: Bear Lake County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 83223 in the fiscal year 2026 is set at $970. This figure represents the maximum amount that a landlord can receive from the Section 8 program for a given unit, regardless of the actual market rent charged to the tenant. The FMR does not dictate the rent you charge; it's simply the payment standard used by the Housing Choice Voucher Program.
To understand demand, consider that the typical renter in this area might spend around 7.5% of their income on housing costs. With an FMR of $970, this suggests that tenants eligible for Section 8 in ZIP 83223 could have a total household income of approximately $12,933 per month, or $155,200 annually. This calculation helps gauge the potential pool of tenants who would qualify for assistance.
Regarding acquisition costs, there is no specific data available for ZIP 83223. However, understanding the local real estate market is crucial. Check recent property sale prices and the average time homes spend on the market to get a sense of how much you might pay to acquire a rental property and whether it's a good investment based on current trends.
A key factor to verify before committing to a Section 8 rental is the condition of the property. It must pass a thorough inspection known as the Housing Quality Standards (HQS) test, which ensures the home meets basic safety and habitability requirements. Failure to meet these standards can result in non-payment or termination of the contract.
In summary, the $970 FMR for ZIP 83223 sets the payment ceiling for the Section 8 program but doesn't limit your ability to charge higher rents to other tenants. It also provides insight into the income levels of potential voucher holders. Ensure your property meets HQS standards to avoid complications and to secure steady rental income through the program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.