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 | $1,100 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $331,520 | 0.42% | F |
| 3BR | $1,910 | $426,369 | 0.45% | F |
| 4BR | $2,310 | $485,311 | 0.48% | F |
| 5BR | $2,680 | $587,439 | 0.46% | F |
U.S. Census Bureau data (2024)
12.7% of Rigby, ID's residents are renters, indicating a moderate demand for rental properties in ZIP 83442. The Fair Market Rent (FMR) for the area is set at $1090 for zip FY 2024, which is significantly lower than the actual market rent of $1,456 (ZORI). This suggests that landlords can potentially attract Section 8 tenants while still maintaining a competitive position in the local rental market. The median home value stands at $480,634, reflecting a stable housing market where property values have remained consistent. However, the median income of $88,260 might limit the purchasing power of some residents, making affordable rentals even more attractive. With a Days on Market (DOM) of 55 days, properties are moving relatively quickly, indicating a healthy turnover rate for landlords. The low price-cut share of 0.2% shows that properties are generally priced correctly and do not require significant adjustments to sell, which is positive for both buyers and sellers. Given these figures, landlords and small-portfolio investors should consider the potential benefits of accepting Section 8 tenants, as it can provide a steady stream of income without compromising on market positioning. The verdict for Section 8 participation in Rigby, ID remains favorable due to the strong rental market and moderate demand for affordable housing.
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.