Location: Elmore 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 |
|---|---|---|---|---|
| 1BR | $1,260 | $271,160 | 0.46% | F |
| 2BR | $1,500 | $261,055 | 0.57% | F |
| 3BR | $2,090 | $348,317 | 0.6% | D |
| 4BR | $2,510 | $394,755 | 0.64% | D |
| 5BR | $2,912 | $469,325 | 0.62% | D |
U.S. Census Bureau data (2024)
The dynamics of ZIP 83647, Mountain Home, ID, reveal a market in motion. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,180, while the actual market rent, measured by Zillow's ZORI index, stands at $1,568. This gap suggests that the local rental market is robust, with rents exceeding the government benchmark, indicative of strong demand.
A key indicator of market health is the percentage of listings that have been price-cut, which currently sits at just 0.2%. This low figure points towards a seller-friendly environment where few landlords need to reduce their asking prices to attract tenants. Additionally, the Days on Market (DOM) for listings is 27 days, suggesting that properties are being leased relatively quickly, further supporting the notion of a balanced to tight rental market.
The median home value in Mountain Home is $355,922. While this figure alone doesn't provide a complete picture of the market, it can be compared against rental rates to gauge affordability and investment potential. With a 28.5% share of renters in the area, there is a significant portion of the population relying on the rental market, which places long-term upward pressure on rents as demand remains steady or grows.
The snapshot of the market in ZIP 83647 indicates that demand is likely keeping pace with or slightly outstripping supply. The low rate of price cuts and quick leasing times suggest that landlords can maintain or even increase rents without fear of vacancies. This dynamic is particularly relevant for small-portfolio investors looking to capitalize on steady rental income.
Landlords should pay close attention to the $355,922 median home value and the $1,568 market rent when considering investments or property management strategies. These figures imply that purchasing a home in this area could be a sound investment, given the strong rental market and potential for capital appreciation over time.
In summary, ZIP 83647 presents a rental market that is moving towards tighter conditions, with strong demand supported by a high renter share and relatively low competition among landlords. This makes it an attractive location for those interested in real estate investment, especially within the bounds of Section 8 programs.
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.