Location: Bingham County, ID | Metro: Idaho Falls, ID HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $383,881 | 0.45% | F |
| 4BR | $2,090 | $416,755 | 0.5% | F |
| 5BR | $2,424 | $586,178 | 0.41% | F |
U.S. Census Bureau data (2024)
A decision tree for evaluating whether to invest in ZIP 83274 for Section 8 properties involves three key steps.
Step 1: Can the Fair Market Rent (FMR) of $1,140 cover the debt service on a property valued at $430,338?
If the answer is yes, proceed to Step 2. In ZIP 83274, the FMR is set at $1,140 for fiscal year 2024. This figure must be sufficient to cover the mortgage payments and other financial obligations associated with owning a property valued at $430,338. If it does, then the next question is pertinent.
If the answer is no, do not buy. The FMR is insufficient to support the debt service on such a property, indicating a high risk of financial loss.
Step 2: How does the market rent of $1,232 compare to the FMR?
If market rent is above the FMR, then it depends on your investment goals. With a market rent of $1,232, you could potentially earn higher rents outside of Section 8, but this also means you might face competition from non-subsidized rentals. Consider if you want to participate in the Section 8 program or aim for a broader tenant pool.
If market rent is at or below the FMR, proceed to Step 3. This scenario suggests that the market rent aligns closely with what Section 8 tenants can afford, making it a suitable option for those interested in the program.
Step 3: Is there sufficient demand with 17.8% of residents being renters and an average of 82 days on the market?
If the demand is strong, proceed with buying. The rental rate of 17.8% indicates a reasonable proportion of potential tenants. An average of 82 days on the market suggests moderate demand, which is acceptable for most investors. However, ensure that the local economy supports steady employment and that there is a consistent need for subsidized housing.
If demand is weak, reconsider buying. A low percentage of renters or a significantly longer time on the market would indicate that the area may not sustain enough demand for Section 8 properties.
In summary, if the FMR clears the debt service and aligns with market rents, and if there is a sufficient number of renters and moderate days on the market, then investing in ZIP 83274 for Section 8 properties is advisable. Otherwise, seek alternative investment opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.