Location: Gooding 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 | $930 |
| 1 Bedroom | $930 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $280,322 | 0.39% | F |
| 3BR | $1,510 | $318,249 | 0.47% | F |
| 4BR | $1,820 | $386,776 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 83355, located in Wendell, ID, is situated within the Gooding County, ID metro area. Its Fair Market Rent (FMR) for fiscal year 2026 is set at $1,000, which is notably higher than the market rent figure of $862. This suggests that while government-subsidized rents might be slightly inflated, the actual rental market is more affordable. The median home value in ZIP 83355 stands at $333,704, aligning closely with typical Gooding County ZIP codes. However, the renter share of 35.4% is significant, indicating a substantial portion of the population relies on rental housing.
To classify ZIP 83355 within the Gooding County metro, we can infer it leans towards being a mid-tier neighborhood. The FMR and market rent figures suggest neither an extreme affordability nor a premium sub-market status. Instead, they indicate a balance where subsidized rents are above market rates but still within a reasonable range.
A notable divergence is the combination of a high renter share with home values that are in line with the county average. This characteristic often signals a potential sweet spot for Section 8 landlords and small-portfolio investors. A higher proportion of renters, particularly those eligible for Section 8 subsidies, can stabilize occupancy rates and provide a steady income stream. While the home values do not indicate a discount compared to other areas, the high renter share coupled with the slightly elevated FMR makes it attractive for those targeting subsidized housing tenants.
In summary, ZIP 83355 presents itself as a mid-tier neighborhood within the Gooding County, ID metro, with conditions favorable for Section 8 investments due to its high renter share and reasonable home values. Landlords should consider the slightly inflated FMR as a positive factor when assessing the viability of properties in this 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.