Location: Minidoka County, ID | Metro: Jerome County, 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 | $800 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,510 | $342,487 | 0.44% | F |
U.S. Census Bureau data (2024)
ZIP code 83335 in Minidoka County, ID, has several characteristics that position it distinctly within the local real estate market. The Fair Market Rent (FMR) for ZIP 83335 is set at $1040 for fiscal year 2024, which is significantly higher than the average market rent of $616. This suggests that there is a higher demand for rental properties that meet or exceed the quality standards required for Section 8 housing, indicating a potential opportunity for landlords who can provide such accommodations.
The median home value in ZIP 83335 is $398,213, which places it above the average home values typically seen across other ZIP codes in Minidoka County. However, this figure should be considered in conjunction with the ZIP's renter share, which stands at 40.3%. A higher-than-average renter share, combined with above-average home values, points towards a scenario where a significant portion of residents are renters, yet the area still maintains a relatively high property value. This combination can be indicative of a neighborhood that is slightly more desirable for both homeowners and renters, potentially attracting individuals and families seeking affordable rentals but willing to pay a premium due to the location's desirability.
To determine whether ZIP 83335 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the interplay between its FMR, market rent, home values, and renter share. Given the higher FMR and median home value, alongside a notable renter share, ZIP 83335 leans towards being a mid-tier neighborhood. It offers opportunities for landlords with properties meeting Section 8 standards while also maintaining a level of attractiveness that supports higher-than-average home values. The divergence between the FMR and market rent indicates that landlords could potentially find a niche market catering to those who qualify for Section 8 assistance but seek better-quality housing, thus commanding rents closer to the FMR.
In summary, ZIP 83335 appears to be a mid-tier neighborhood within Minidoka County, ID, offering a balance between rental opportunities and property values. Its characteristics suggest that it is neither a value pocket nor a premium sub-market but rather a segment of the market where landlords can find a good mix of demand and potential returns.
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.