Location: Gem 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 |
|---|---|---|---|---|
| 3BR | $2,090 | $663,550 | 0.31% | F |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP code 83670 for Section 8 purposes, follow this decision tree based on the provided data.
1) Does the Fair Market Rent (FMR) of $1180 cover the debt service on a property valued at $662,420?
Yes: The FMR of $1180 is sufficient to clear debt service on a property worth $662,420, assuming typical financing terms. This makes the investment viable from a cash flow perspective.
No: The FMR of $1180 does not cover the debt service on a property valued at $662,420 under standard financing conditions. This would result in a negative cash flow scenario, making it unwise to invest without other sources of income.
It Depends: If the landlord plans to finance the property with a loan that has a lower interest rate or a longer amortization period, then the FMR might be enough to cover the debt service. However, this must be calculated based on the specific loan terms.
2) Is the market rent above, at, or below the FMR?
Above FMR: If the market rent exceeds the FMR of $1180, the landlord can potentially earn additional income from non-Section 8 tenants, which increases the property's attractiveness as an investment.
At FMR: Market rents equaling the FMR of $1180 indicate that the landlord will likely only attract Section 8 tenants. This scenario requires careful consideration of the administrative overhead associated with Section 8 properties.
Below FMR: If market rents are below the FMR of $1180, the landlord risks having a property that is overpriced relative to the local rental market, leading to potential vacancy issues. This makes the investment less attractive.
3) Are 13.9% of residents renters, and do the days on market (DOM) indicate sufficient demand?
Yes: With 13.9% of residents being renters and a low DOM, there is strong demand for rental properties in the area. This ensures a steady stream of potential tenants, reducing the risk of prolonged vacancies.
No: If the percentage of renters is significantly lower or the DOM is high, indicating weak demand, then the investment is risky. Landlords may struggle to find tenants willing to pay the FMR.
It Depends: If the DOM is moderate but there are other factors driving demand, such as job growth or limited housing stock, then the investment could still be viable despite the 13.9% rental rate. Analyze additional local economic indicators to make a final decision.
In summary, the viability of investing in ZIP 83670 for Section 8 properties hinges on whether the FMR covers debt service, how market rents compare to the FMR, and the level of demand for rental units. Carefully assess these points before proceeding with any purchase.
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.