Location: Lewis County, ID | Metro: Lewis 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 | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,630 | $289,985 | 0.56% | F |
| 4BR | $1,910 | $339,578 | 0.56% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 83523 presents a dynamic environment where the Federal Market Rent (FMR) at $1,140 for the fiscal year 2026 exceeds the current market rent of $945, based on Census American Community Survey (ACS) data. This suggests that there is potential upward pressure on rental prices, indicating a scenario where demand could be catching up with supply or even starting to surpass it.
The median home value stands at $303,524, which, while significant, does not provide direct insight into the rental market dynamics without comparative historical data. However, the fact that the FMR is higher than the current market rent implies that landlords might see opportunities to increase rents over time, aligning with the expected future costs of housing.
A key indicator of long-term housing pressure is the 12.2% renter share. This relatively low percentage of renters compared to homeowners suggests that the area has a strong preference for homeownership. Such a high proportion of owner-occupied homes can indicate stability and possibly lower turnover rates in the rental market, as those who can afford to buy often do so rather than renting. However, it also means that any increase in population or employment opportunities could translate into greater rental demand, as not all new residents will be able to purchase homes immediately.
The lack of specific data on price-cut share and days on market (DOM) for rentals makes it challenging to pinpoint the exact balance between supply and demand. Nonetheless, the gap between the FMR and current market rent points towards a market that is currently below its potential equilibrium, suggesting that landlords may find themselves in a position to gradually adjust their rental pricing upwards.
In summary, ZIP 83523 is characterized by a rental market that is likely to experience upward pressure due to the disparity between the FMR and current market rent. The high median home value and low renter share suggest a predominantly owner-occupied community, but with inherent long-term pressures that could favorably impact rental investments as the area continues to develop.
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.