Location: Lemhi County, ID | Metro: Custer County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
The median income in ZIP code 83226, Idaho stands at $36,458. At the market rate of $677 per month (as reported by the Census ACS), renting an apartment becomes a significant financial commitment for most households. This amount represents nearly 25% of the annual income, which is higher than the recommended 30% threshold for housing affordability.
In contrast, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,140. This figure is notably higher than the current market rate, indicating a substantial gap between what the market offers and what the government deems a fair rental price. The disparity suggests that landlords accepting Section 8 vouchers might face fewer competitive pressures compared to those relying solely on market-rate rents.
With 30.9% of the 2,100 residents being renters, there is a notable demand for affordable housing options. However, the majority of these potential tenants may struggle to meet even the lower market rate of $677 without assistance. Landlords must consider the balance between voucher payments and the willingness of renters to pay out-of-pocket.
The takeaway for landlords is clear: accepting Section 8 vouchers can provide a steady stream of income, albeit at a lower rate than the FMR. It also positions landlords favorably in a competitive market where many renters cannot afford the going rate. For small-portfolio investors, diversifying their tenant mix to include both voucher recipients and cash-paying renters could be a strategic approach to mitigate risk and ensure stable occupancy rates.
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.