Location: Elmore County, ID | Metro: Elmore 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 | $820 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $197,943 | 0.55% | F |
| 3BR | $1,500 | $270,904 | 0.55% | F |
U.S. Census Bureau data (2024)
ZIP 83623, located in Glenns Ferry, ID, within the Elmore County, ID metro area, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The fundamental reason lies in the significant spread between the Fair Market Rent (FMR) for the metro area and the actual market rents. For fiscal year 2026, the FMR for the Glenns Ferry metro area is set at $970, while the average market rent is only $646. This discrepancy ensures that landlords participating in the Section 8 program can receive higher rental payments compared to the local market rates, thereby enhancing their cash flow.
The median home value in ZIP 83623 stands at $255,515. Although this figure does not directly impact rental income, it provides context regarding the overall housing market. In a scenario where property values are stable or growing moderately, landlords can benefit from both enhanced rental income and potential appreciation of their investment properties over time.
Despite the strong case for ZIP 83623 as a cash-flow anchor, it also offers diversification benefits. With a 30.5% renter share, there is a substantial portion of the population relying on rental housing, including those eligible for Section 8 assistance. Additionally, the median income of $58,145 suggests a community that is financially capable of supporting a mix of rental and homeownership options. However, given the specific financial metrics available, focusing on the cash-flow anchor aspect provides the clearest strategic advantage.
In summary, ZIP 83623 is best suited as a cash-flow anchor in a Section 8 portfolio due to the favorable spread between FMR and market rents, ensuring steady and reliable income for landlords. This strategic positioning can help stabilize overall portfolio performance and provide a solid foundation for further investment growth.
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.