Location: Payette County, ID | Metro: Gem County, 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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $389,252 | 0.31% | F |
| 3BR | $1,660 | $475,227 | 0.35% | F |
| 4BR | $2,010 | $623,266 | 0.32% | F |
U.S. Census Bureau data (2024)
In New Plymouth, ID (ZIP 83655), the real estate market presents a nuanced landscape for both landlords and small-portfolio investors. The median home value stands at $493,449, indicating a stable residential property base. However, the fact that only 0.4% of listings have reduced their prices suggests strong seller pricing power. This low percentage of price reductions implies that homeowners are confident in maintaining their asking prices, which can be attributed to a robust local economy and consistent demand.
The median days on market (DOM) being listed as N/A could indicate either an exceptionally quick selling environment or limited data due to the relatively small number of transactions. In either case, it supports the notion of a tight housing market where homes sell swiftly, further reinforcing the sellers' ability to command higher prices. This dynamic is particularly favorable for landlords who can leverage rising property values to increase equity in their investments. For small-portfolio investors, the stability in home values and the strong seller's market suggest a resilient asset class that can withstand economic fluctuations better than volatile markets.
On the rental side, the Federal Market Rent (FMR) for ZIP 83655 is projected at $1,070 for fiscal year 2024, while the current market rent, based on Census ACS data, is $1,031. This indicates a slight upward pressure on rents, aligning with the trend of increasing property values. Landlords can anticipate modest rent increases in the coming years, provided they maintain competitive amenities and conditions in their properties. The gap between FMR and market rent also signals potential for rental income growth, especially if landlords can position their units slightly above average market rates without deterring tenants.
For long-term investors, the realistic appreciation thesis in New Plymouth hinges on the continued strength of the local economy and job market. If these factors remain positive, appreciation is likely to follow, albeit at a moderate pace given the already established median home value. However, the absence of significant appreciation potential does not diminish the attractiveness of the area for investors focused on steady cash flows from rentals rather than rapid capital gains. The combination of stable home values and growing rental income provides a solid foundation for long-term investment strategies.
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.