Location: Valley County, ID | Metro: Adams 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 | $1,080 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,120 | $442,356 | 0.25% | F |
| 2BR | $1,220 | $584,729 | 0.21% | F |
| 3BR | $1,690 | $805,015 | 0.21% | F |
| 4BR | $2,040 | $1,107,830 | 0.18% | F |
| 5BR | $2,366 | $1,780,465 | 0.13% | F |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 83638, located in McCall, ID, within the Valley County metro area, reveals a competitive yet manageable rental environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1,160 per month for the fiscal year 2026, which is slightly above the current market rent of $1,134 as reported by the Census ACS.
Voucher tenants will cashflow at the HUD FMR rate, indicating that landlords can expect a modest positive cash flow when renting to these tenants. However, the difference between the FMR and market rent is minimal, suggesting that landlords should focus on maintaining or slightly upgrading their units to ensure they remain attractive to voucher holders. This slight premium is necessary to cover the costs associated with managing Section 8 properties.
The median home value in ZIP 83638 is $782,296. Using this figure, we can derive a rent-to-price ratio of approximately 1.48%, calculated by dividing the average monthly rent ($1,134) by the median home value and multiplying by 12. This ratio indicates that the rental market is relatively affordable compared to the cost of owning a home in the area, potentially influencing the decision-making process of potential renters versus buyers.
The N/A-day median Days on Market (DOM) and the 0.2% price-cut share suggest that the local housing market is stable, with few homes requiring price reductions to sell. These factors indicate a strong demand for housing, which can benefit both rental and ownership markets. For Section 8 investors, this stability means that there is a consistent need for affordable housing, reducing the risk of vacancy.
The strongest investor angle in ZIP 83638 is likely stability, given the low price-cut share and the minimal gap between market rents and HUD FMRs. Landlords and small-portfolio investors can expect steady cash flows from voucher tenants while also benefiting from a stable housing market that supports both rental and ownership opportunities.
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.