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 | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,440 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $251,041 | 0.43% | F |
| 3BR | $1,440 | $329,183 | 0.44% | F |
| 4BR | $1,800 | $395,408 | 0.46% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 83347 in Paul, ID, on the yield and stability axes reveals a unique investment scenario for landlords and small-portfolio investors. On the yield axis, the potential rental income appears promising. The Fair Market Rent (FMR) for 2024 stands at $910, which is notably higher than the market rent of $801. This suggests that properties in this area can command rents above the average market rate, potentially leading to higher yields.
However, the median home value of $347,025 indicates that the initial investment required to enter this market is substantial. For investors looking to maximize their returns through rental income, the higher FMR compared to the market rent provides an opportunity to achieve better yields, but it must be weighed against the significant capital outlay.
Moving onto the stability axis, the data paints a mixed picture. With 30.7% of residents being renters, the market has a moderate level of demand for rental properties. However, the lack of information regarding the number of days on market (DOM) suggests that there may be challenges in accurately gauging how quickly properties can be leased. This uncertainty adds a layer of risk to the investment.
The median household income in the area is $79,643, which is relatively stable and supports the ability of tenants to pay rent. This figure suggests that the population has a reasonable capacity to afford the higher rents indicated by the FMR, thus providing some assurance of consistent cash flow.
Considering these factors, ZIP 83347 is best classified as a market that offers a balance between yield and stability. It is not a high-yield/low-stability flip-style market, as the income levels suggest a degree of tenant stability. At the same time, it does not entirely fit into a steady-cashflow zone due to the significant variance between FMR and market rent, indicating a need for strategic pricing to maximize returns while maintaining occupancy rates.
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.