Location: Madison County, ID | Metro: Fremont 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 | $1,320 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,080 | $354,372 | 0.59% | F |
| 4BR | $2,450 | $432,598 | 0.57% | F |
| 5BR | $2,842 | $487,936 | 0.58% | F |
U.S. Census Bureau data (2024)
In ZIP code 83448, there are several factors that could pose challenges for landlords considering Section 8 investments. First, the tenant turnover rate is likely to be higher due to the discrepancy between the market rent of $1,372 and the Fair Market Rent (FMR) of $1,440 for fiscal year 2026 in the metro area. This difference may lead to tenants seeking better deals, increasing the likelihood of frequent moves and higher vacancy rates.
Vacancy exposure is another concern, as the Days on Market (DOM) for rental properties is currently unknown. This uncertainty makes it difficult to predict how long it might take to fill a vacancy, potentially leading to significant periods without rental income.
The deferred maintenance exposure is also notable, with typical home values reaching $391,516. Given the median income of $76,000, many tenants may struggle to cover maintenance costs, leaving landlords responsible for repairs and upkeep. This financial burden can quickly add up, especially if the property requires significant work.
However, these risks are offset by the high renter share of 33.8%. A large proportion of renters often correlates with higher demand for housing vouchers, making it easier to attract and retain tenants who qualify for Section 8 assistance. The presence of numerous potential voucher holders can stabilize occupancy rates and provide a steady stream of income.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.