Location: Boise City, 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 | $300,526 | 0.42% | F |
| 2BR | $1,500 | $310,552 | 0.48% | F |
| 3BR | $2,090 | $402,106 | 0.52% | F |
| 4BR | $2,510 | $481,958 | 0.52% | F |
| 5BR | $2,912 | $606,510 | 0.48% | F |
U.S. Census Bureau data (2024)
Nampa’s 83686 ZIP code represents the core of Idaho’s second-largest city, offering a blend of historic charm and modern suburban growth. This area is characterized by established residential neighborhoods and proximity to downtown Nampa, which has seen significant revitalization efforts. A major economic driver here is the College of Western Idaho (CWI), whose Nampa campus provides steady educational employment and draws a population of students and staff to the local rental market.
From a strictly numerical standpoint, the math for HUD investors in 83686 presents a clear challenge. The FY2026 Fair Market Rent (FMR) for a 2-bedroom unit is set at $1,660, yet current market rents (Zillow ZORI) sit at $1,550, creating a rare scenario where the subsidized rate exceeds the private market rate by $110. However, acquisition costs are substantial, with a median home value of $429,540 and a specific median 2BR sale price of $301,152. Properties here are moving relatively slowly, with a median days on market of 60 days, suggesting buyers have leverage in price negotiations.
The tenant pool is anchored by a solid median household income of $86,518, though only 23.3% of households are renters, indicating a predominantly ownership-oriented community. For those who do rent, the local amenities are strong; the Nampa School District generally performs well, and the area features expanding parks and retail options. The lower renter share, combined with the local income levels, points toward a tenant demographic that values stability over long-term transience, which can benefit landlords seeking consistent occupancy.
The strongest investor angle here is not immediate cash flow, but rather stability and appreciation. The gap between the $1,660 voucher payment and the $1,550 market rent suggests that while the floor is safe, significant upside is capped unless rental growth accelerates. With high home values relative to rent, this is a market for investors seeking to hedge against vacancy in a high-quality neighborhood rather than chasing maximum monthly yields. The data supports a buy-and-hold strategy where the primary return comes from asset preservation rather than aggressive rental premiums.
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.