Location: Boise City, 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 | $1,060 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,500 | $273,894 | 0.55% | F |
| 3BR | $2,090 | $352,376 | 0.59% | F |
| 4BR | $2,510 | $542,583 | 0.46% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 83628, Homedale, ID, presents a nuanced opportunity for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1180 per month. In comparison, the Census ACS data indicates that the average market rent for the same period is $1,059. This means that landlords accepting Section 8 vouchers can expect to cashflow positively, as the FMR exceeds the market rent by approximately $121.
To further analyze the investment potential, consider the median home value in the area, which stands at $361,243. Using the HUD FMR of $1180, the rent-to-price ratio can be calculated. For a property priced at the median, the monthly rent would need to cover roughly 0.33% of the total value to break even. Given the higher FMR compared to the actual market rent, the rent-to-price ratio suggests a favorable scenario for rental properties, especially those that are well-maintained and priced slightly above the market average.
Note that the data does not provide specifics on the median days on market (DOM) or the percentage of homes that required price cuts, which are typically important metrics when assessing the buy-versus-rent dynamics. However, the positive cashflow potential derived from the disparity between the HUD FMR and the market rent remains a compelling point for investors.
In summary, for investors in ZIP 83628, the strongest angle is likely to be cashflow. Accepting Section 8 vouchers allows landlords to receive rents that exceed the local market rates, providing a reliable source of income with minimal risk of vacancy due to the government-backed nature of the program.
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.