Location: Boise City, ID | Metro: Boise City, ID HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 83666 is set at $1,180 per month for FY 2024. This figure is notably lower than the typical FMR for Boise City, which is around $1,838 for a two-bedroom apartment. According to HUD, the FMR represents the 40th percentile rent for the area, meaning that 60% of rents are higher. The fact that 83666 has an FMR below this average suggests that it is less expensive compared to other parts of the Boise City metro.
The renter share in ZIP 83666 stands at 31.6%, which is relatively high. However, since the market rent and home value data are not available, we cannot definitively conclude if this area is a Section 8 sweet spot. Nevertheless, the high proportion of renters combined with the lower FMR could indicate a potential value pocket where landlords can offer competitive rents while still maintaining reasonable profit margins.
To further understand the context, we can look at the broader trends in Boise City. According to the City of Boise's Housing Needs Analysis, there is a significant demand for affordable housing units. This suggests that areas with lower FMRs, like 83666, could be attractive to tenants seeking more affordable options.
While the lack of specific market rent and home value data for ZIP 83666 limits a complete analysis, the existing figures suggest that it is likely a value pocket within the Boise City metro, offering opportunities for landlords and investors looking to enter a less competitive but still demand-driven market segment.
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.