Location: Washington County, ID | Metro: Washington County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 83645 are governed by the SAFMR (Small Area Fair Market Rent) which is specifically tailored to this region. For a two-bedroom apartment, the SAFMR for fiscal year 2026 is set at $1,170. This figure represents the maximum amount that a landlord can receive from the housing authority per month for renting to a Section 8 participant.
In contrast, the local market rent for a two-bedroom unit, as reported by the Census Bureau's American Community Survey (ACS), stands at $1,055. This lower market rate means that landlords in ZIP 83645 might be inclined to participate in the Section 8 program to secure higher rental income compared to the prevailing market rates.
A voucher payment is structured such that the tenant contributes a portion of their income towards rent, typically 30% of their adjusted monthly income. The remaining balance is covered by the housing authority, up to the SAFMR limit. Additionally, there are utility allowances which vary but generally cover a significant portion of the tenant's energy costs, ensuring that tenants do not face excessive out-of-pocket expenses.
To illustrate, if a tenant's contribution is $300, the total reimbursement to the landlord would be the sum of the tenant's payment plus the housing authority's subsidy, not exceeding $1,170. In this scenario, the landlord receives a guaranteed minimum payment of $870 ($1,170 - $300) before considering any utility allowances.
The SAFMR being set at $1,170 for this specific ZIP code ensures that the rental rate is reflective of the local housing market conditions, providing a fair subsidy to both landlords and tenants. However, given the local market rent is $1,055, landlords participating in the Section 8 program can expect a slight surplus when renting a two-bedroom unit.
This surplus amounts to $115 per month, calculated as the difference between the SAFMR ($1,170) and the local market rent ($1,055). This extra income can help offset administrative costs associated with the Section 8 program and provide a modest profit margin for landlords in ZIP 83645.
Landlords should be aware that while the SAFMR offers a higher reimbursement rate than the local market, it is capped and does not necessarily reflect the full market value of their property. Nonetheless, the participation in the Section 8 program can ensure steady, government-backed rental income, which is particularly beneficial in areas where market volatility is high.
In summary, landlords in ZIP 83645 can expect a consistent rental income of $1,170 for a two-bedroom unit under the Section 8 program, leading to a surplus of $115 above the local market rent. This makes Section 8 a viable option for securing tenancy and managing cash flow effectively.
Data Sources: FMR data from HUD (2027). 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.