Section 8 Fair Market Rent (FMR) for ZIP 83238 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$830
1 Bedroom	$840
2 Bedrooms	$1,090
3 Bedrooms	$1,510
4 Bedrooms	$1,820
5 Bedrooms	$2,111
6 Bedrooms	$2,364
7 Bedrooms	$2,553
8 Bedrooms	$2,681

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on available data, ZIP 83238, located in Bear Lake County, ID, can be considered a diversifier within a Section 8 portfolio strategy. With a median income of $90,491, the area offers a stable economic foundation that supports a healthy tenant pool. However, the lack of specific market data and median home value makes it challenging to assess the potential as a cash-flow anchor or an appreciation play.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,060. Given the absence of direct market rental data, we must rely on the FMR as a benchmark. This figure suggests that the rental income generated from properties in ZIP 83238 will align closely with the federal guidelines, ensuring compliance and predictability for landlords participating in the Section 8 program.

ZIP 83238 has a renter share of 8.5%, indicating that while the majority of residents own their homes, there is still a significant portion of the population relying on rental housing. This characteristic positions the ZIP as a valuable diversifier within a broader investment portfolio. By including ZIP 83238 in a Section 8 portfolio, investors can mitigate risks associated with geographic concentration and benefit from the steady demand for rental units.

Although the specific appreciation metrics such as price-cut share and days on market (DOM) are not available, the economic stability and reasonable FMR suggest that the area is less volatile compared to markets with higher renter shares. Therefore, focusing on ZIP 83238 as a diversifier allows investors to balance their portfolio with properties that offer consistent cash flow and lower risk, without the expectation of rapid appreciation.

In summary, ZIP 83238 should be viewed primarily as a diversifier within a Section 8 portfolio strategy due to its stable median income and moderate renter share. The predictable rental income based on the FMR provides a solid foundation for long-term investment planning.

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.