Location: Gem County, ID | Metro: Boise City, ID HUD Metro FMR Area
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 | $1,460 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $431,307 | 0.46% | F |
| 3BR | $2,800 | $680,493 | 0.41% | F |
| 4BR | $3,340 | $945,094 | 0.35% | F |
| 5BR | $3,874 | $1,258,757 | 0.31% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 83616, located in Eagle, ID, indicate a market in flux. The Fair Market Rent (FMR) stands at $1760 for the fiscal year 2024, while the actual market rent, measured by ZORI (Zillow Observed Rent Index), is higher at $2,028. This suggests that the rental market is robust, with rents exceeding government estimates, which typically points to strong demand.
A further indicator of demand strength is the low price-cut share of 0.2%, implying that landlords and property owners are less likely to reduce their asking prices, a sign of confidence in the ability to find tenants willing to pay the listed rates. The days on market (DOM) for properties is relatively short at 24 days, suggesting that listings are moving quickly, another positive signal for demand.
The median home value in Eagle, ID is $802,500, which places it in a higher price bracket compared to many other areas. This can be indicative of a desirable location with amenities that attract buyers willing to pay premium prices.
With a renter share of 15.5%, the market shows a significant portion of residents who prefer renting over owning. This long-term trend could imply sustained pressure on the rental market, ensuring steady demand for rental properties. However, the high median home value also suggests that homeownership is a strong presence, indicating a mixed market where both renters and buyers coexist.
The overall picture suggests a market where demand is strong, but supply remains adequate to meet needs without causing significant price drops. The balance between rental and home ownership rates indicates a diverse housing market with opportunities for both types of investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.