Location: Teton County, ID | Metro: Teton County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP 83455 (Victor, ID) for Section 8 purposes, follow this decision tree based on the provided data:
1) Does FMR $1,300 (metro FY 2026) clear debt service on an $894,955 property?
No. The Fair Market Rent (FMR) of $1,300 is insufficient to cover the debt service on a property valued at $894,955. Assuming a typical mortgage rate and term, the monthly payment would likely exceed $1,300, making it unprofitable to rely solely on Section 8 rents.
Yes. If your debt service is lower than $1,300 per month, then the FMR could potentially cover your costs. However, proceed to the next question to evaluate the broader market conditions.
2) Is market rent $1,410 (Census ACS) above, at, or below FMR?
Above FMR. The market rent of $1,410 is higher than the FMR of $1,300. This suggests that properties in ZIP 83455 can command higher rents outside of Section 8. Landlords may want to consider whether they can attract non-Section 8 tenants willing to pay the market rate.
At or Below FMR. If your property's market rent is closer to or even below the FMR, it might be more competitive in the Section 8 program. However, the profitability of such an investment would still depend on the cost structure of the property.
3) Are 17.2% renters + N/A-day days on market (DOM) enough demand?
It depends. With 17.2% of residents being renters, there is a moderate level of rental demand. However, the lack of data on the average number of days on market (DOM) makes it difficult to assess how quickly you can expect to lease out a property. If the DOM is short, indicating high demand, the 17.2% rental rate could be sufficient. Conversely, if DOM is long, indicating low demand, the rental rate alone may not justify the investment.
In conclusion, the decision to invest in ZIP 83455 for Section 8 purposes hinges on your ability to manage costs effectively and the potential to attract market-rate tenants. The current FMR does not support high-value properties like the one priced at $894,955, but the higher market rent offers some flexibility. Evaluate the local rental market further to understand the DOM and other factors that influence demand before making a final decision.
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.