Location: Idaho Falls, 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 | $1,180 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,060 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $317,759 | 0.47% | F |
| 3BR | $2,060 | $380,534 | 0.54% | F |
| 4BR | $2,490 | $413,908 | 0.6% | D |
| 5BR | $2,888 | $534,109 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 83406, located in Ammon, ID, stands out within Bonneville County due to its unique demographic and economic characteristics. With a population of 19,696 residents, 30.5% of whom rent their homes, the area has a median household income of $86,991. The median home value in this ZIP is notably high at $428,104, reflecting the relatively affluent nature of the community.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 83406 in fiscal year 2024 is set at $1,250, significantly below the ZORI (Zillow Rent Index) of $1,684. This discrepancy means that landlords accepting Section 8 vouchers will receive less rent compared to market rates, which could be a deterrent for some property owners. However, the stability of rental income and the guaranteed government backing might still appeal to those looking for consistent cash flow.
Evaluating the overall data signature of ZIP 83406, it appears to be stable rather than transitional. The high median income and home values suggest a settled and prosperous community. While the rental rate is lower than the market rate, the significant portion of renters indicates a steady demand for affordable housing options. For landlords and small-portfolio investors, the decision to accept Section 8 vouchers should weigh the benefits of reliable tenants against the potential loss in rental revenue compared to market 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.