Location: Lincoln County, ID | Metro: Gooding County, ID
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 | $880 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $890 | $251,814 | 0.35% | F |
| 2BR | $1,040 | $247,758 | 0.42% | F |
| 3BR | $1,440 | $339,238 | 0.42% | F |
| 4BR | $1,740 | $410,099 | 0.42% | F |
U.S. Census Bureau data (2024)
In ZIP 83330 (Gooding, ID), investors often raise concerns about the feasibility of covering mortgage payments and the overall rental market dynamics. Here are the key points addressing these concerns:
Will Fair Market Rent (FMR) of $1,030 (metro FY 2026) cover the mortgage on a $321,683 home?
The FMR of $1,030 per month will likely cover a significant portion of the mortgage payment on a home priced at $321,683. However, the exact amount depends on the interest rate and loan terms. Assuming a typical 30-year fixed-rate mortgage with an interest rate around 4%, the monthly mortgage payment would be approximately $1,500. This leaves a gap of around $470 per month, which could be covered by additional income streams such as property management fees or by adjusting the price point of the investment property.
Is there enough renter demand at 32.0%?
The 32.0% rental rate in Gooding suggests a moderate level of demand for rental properties. While it is lower than the national average, it indicates that a third of the households are renters, which is sufficient to sustain a rental market. The actual demand can be influenced by factors such as employment opportunities, population growth, and the availability of affordable housing. Further analysis of these factors would provide a clearer picture of the potential for rental growth.
Will vouchers keep pace with $894 market rents?
The current market rent of $894 in Gooding is below the FMR, indicating that voucher holders might have a higher likelihood of finding suitable housing. However, whether vouchers will keep pace with market rents depends on federal funding and policy adjustments. Historically, voucher amounts have increased gradually to align with rising costs, but the exact future trajectory is uncertain. It is advisable to monitor local HUD announcements and trends in voucher usage to gauge the impact on rental affordability.
Note: Specific data on the rental market dynamics, employment opportunities, and voucher trends in Gooding, ID, were not fully available in the provided sources. For a comprehensive analysis, consider subscribing to services like NeighborhoodScout for detailed insights into the area.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.