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 | $1,060 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,090 | $522,584 | 0.4% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 83629 might have several concerns regarding the feasibility of investing in a Section 8 property. Let's address these objections with the available data.
Objection 1: Will Fair Market Rent (FMR) of $1180 cover the mortgage on a $515,449 home?
The FMR of $1180 for ZIP 83629 in fiscal year 2024 needs to be compared against the mortgage payments on a $515,449 home. To provide a comprehensive analysis, we would need the interest rate and loan term. However, based on historical data, an average 30-year fixed-rate mortgage could result in monthly payments that exceed the FMR. This suggests that relying solely on FMR might not be sufficient to cover mortgage costs without additional income sources or a lower interest rate environment.
Objection 2: Is there enough renter demand at 14.6%?
The rental demand in ZIP 83629, represented by the 14.6% rental occupancy rate, is relatively low. This percentage indicates that only a fraction of the housing units are rented out, which could imply limited demand for rental properties. However, it is important to note that the rental occupancy rate alone does not fully capture the dynamics of the local rental market. Factors such as vacancy rates, population growth, and employment trends also play a significant role. The current data does not provide a complete picture of these factors, making it difficult to conclusively determine the level of demand.
Objection 3: Will vouchers keep pace with $879 market rents?
The Housing Choice Voucher program aims to subsidize tenants' rent payments up to the FMR, but the actual market rent of $879 per month in ZIP 83629 is below the FMR of $1180. This means that voucher holders can potentially afford higher rent payments, which could help landlords cover their costs. However, the sustainability of voucher funding and its ability to adjust to inflation and other economic pressures is another matter. Current data does not indicate whether the voucher amounts will increase in line with market rents or if they will maintain their value relative to the cost of living. Therefore, while the current market rents are manageable with vouchers, future adjustments remain uncertain.
In conclusion, while ZIP 83629 presents some challenges, particularly in terms of covering mortgage costs with FMR and assessing the true level of rental demand, the alignment between market rents and voucher amounts currently provides a stable foundation for Section 8 investments. For a more detailed analysis, further investigation into local economic conditions and long-term trends would be beneficial.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.