Section 8 Fair Market Rent (FMR) for ZIP 83606 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 83606 in Unknown, ID presents several potential challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue due to the discrepancy between the local market rent and the Fair Market Rent (FMR) set at $1310 for FY 2024. This difference suggests that tenants might find it difficult to afford housing outside of subsidized programs, leading to higher turnover rates when vouchers expire or change.

Vacancy exposure is another concern. The average Days on Market (DOM) for rental properties is not available, which makes it challenging to predict how long it might take to fill vacancies. This uncertainty can result in financial losses if properties remain unoccupied for extended periods.

Deferred maintenance is also a risk factor. Without specific data on typical home values and median incomes, it's difficult to assess the financial capacity of residents to maintain homes properly. This could lead to increased repair costs and maintenance issues for landlords over time.

However, these risks must be weighed against the high concentration of renters in the area. While the exact percentage of the renter share is not available, high renter density typically indicates strong demand for rental properties, including those eligible for Section 8 vouchers. This demand can stabilize occupancy rates and provide a steady stream of income.

In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 83606 is moderate.

Data Sources: FMR data from HUD (2027).

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.