Section 8 Fair Market Rent (FMR) for ZIP 83541 - 2027
Location: Clearwater County, ID | Metro: Lewiston, ID-WA MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $900 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$62,569
A landlord considering purchasing a property in ZIP code 83541 for Section 8 purposes must evaluate several factors. Here's a decision tree to guide the process:
- Does FMR $1340 (zip FY 2024) clear debt service on a $469,264 property?
- If the monthly debt service (including mortgage payments, taxes, insurance, and maintenance) on a property priced at $469,264 is less than $1340, then the answer is Yes. The Fair Market Rent (FMR) for ZIP 83541 is sufficient to cover these costs.
- If the monthly debt service exceeds $1340, then the answer is No. The FMR would not be adequate to meet financial obligations associated with the property.
- Is market rent $803 (Census ACS) above, at, or below FMR?
- If the market rent is above the FMR of $1340, the answer is It Depends. This suggests that while there might be higher potential income from non-Section 8 tenants, Section 8 vouchers will only cover up to $1340, leaving a gap between what the voucher covers and the actual rent charged.
- If the market rent is at or below the FMR, the answer is Yes. This indicates that the property can be rented out at or below the FMR, making it suitable for Section 8 tenants without any shortfall in rental coverage.
- Are 14.3% renters + N/A-day days on market enough demand?
- The percentage of renters in ZIP 83541 is 14.3%, which is relatively low. Additionally, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are being rented. Therefore, the answer is It Depends.
- To clarify, if the low renter percentage and unknown DOM indicate slow rental activity, the demand for Section 8 properties might not be robust enough to ensure steady occupancy. Conversely, if other local conditions suggest strong demand despite the low renter percentage, the property could still be viable.
In conclusion, a landlord must first determine if the FMR of $1340 can cover the monthly debt service of a property valued at $469,264. Next, they should consider whether the market rent of $803 aligns with or falls below the FMR. Finally, the low percentage of renters and lack of DOM data require further investigation into local rental trends 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.