Location: Madison County, ID | Metro: Fremont County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
U.S. Census Bureau data (2024)
ZIP code 83451 lies within the Madison County, ID metro area. Its Federal Market Rent (FMR) for fiscal year 2026 is set at $1,260. Comparatively, the average market rent across the county is $1,143. This indicates that ZIP 83451 commands slightly higher rents than the typical ZIP codes in Madison County. The median home value in 83451 is $373,024, which is also above the county average, suggesting a higher cost of living or investment potential in this area.
The renter share in ZIP 83451 stands at 15.5%, which is notably higher than the typical ZIP codes in Madison County. This high percentage of renters coupled with below-metro home values can signal a valuable opportunity for landlords and small-portfolio investors interested in Section 8 housing. However, since the home values in 83451 are actually above average, it suggests a different dynamic at play.
Based on these figures, ZIP 83451 appears to be a mid-tier neighborhood within its metro. It offers higher-than-average rental income potential but also comes with a higher investment cost due to its elevated home values. While the high renter share could attract interest from those seeking Section 8 tenants, the relatively high home values indicate that this area might not be considered a value pocket where low-cost investments are sought. Instead, it leans towards being a premium sub-market, offering opportunities for those willing to invest in higher-value properties.
To summarize, ZIP 83451 in Madison County, ID, presents a balanced scenario for real estate investors. It offers a combination of higher-than-average rental rates and home values, positioning it as a mid-tier neighborhood with some characteristics of a premium sub-market. The high renter share is an interesting feature, though it does not necessarily define it as a Section 8 sweet spot given the higher property values.
Data Sources: FMR data from HUD (2027). 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.