Location: Lewiston, ID | Metro: Lewiston, ID-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 83540 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP is set at $1160 per month for fiscal year 2024. However, the local market rent, according to the Census ACS, averages at $838. This discrepancy can be advantageous for landlords but requires understanding how the voucher system works.
A Section 8 voucher pays the difference between the SAFMR and the tenant's portion, which is typically 30% of their income. For example, if a tenant has an income of $20,000 annually, their monthly contribution would be around $500. The government then covers the remaining balance up to the SAFMR, which in this case is $1160. If the tenant's portion is $500, the government would pay $660 to reach the SAFMR. But remember, the actual rent charged should not exceed the local market rent of $838.
In addition to the base rent, there are utility allowances that landlords should factor into their calculations. These allowances vary based on the size of the unit and the region. For ZIP 83540, the utility allowance for a two-bedroom apartment is generally included in the total reimbursement amount, ensuring that tenants have enough to cover basic utilities.
To illustrate, let's assume a two-bedroom apartment is rented at the market rate of $838. If the tenant's portion is $500, the government will reimburse the landlord $338 to make up the difference. This reimbursement ensures that landlords receive the full market rent while the tenant only pays 30% of their income towards housing.
The typical reimbursement gap or surplus in ZIP 83540 for a two-bedroom apartment is a surplus of $322 per month. This surplus comes from the difference between the SAFMR ($1160) and the local market rent ($838). Landlords should note that this surplus does not mean they can charge more than the market rent; it simply indicates the potential financial benefit of participating in the Section 8 program over charging the full SAFMR.
Landlords in ZIP 83540 should also be aware that the SAFMR is designed to ensure that rents are affordable for low-income families, and the program aims to keep rents within the local market range. Thus, the SAFMR serves as a ceiling for reimbursement, not a target rental price.
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.