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 | $1,170 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,210 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,320 | $264,544 | 0.5% | F |
| 2BR | $1,580 | $411,892 | 0.38% | F |
| 3BR | $2,210 | $520,167 | 0.42% | F |
| 4BR | $2,640 | $684,798 | 0.39% | F |
| 5BR | $3,062 | $836,484 | 0.37% | F |
U.S. Census Bureau data (2024)
ZIP code 83706, located in Boise, ID, falls within the broader Boise City, ID HUD Metro FMR Area. To contextualize its position within this metro area, we must consider several key metrics: Fair Market Rent (FMR), market rent, home value, and renter share.
The FMR for ZIP 83706 in fiscal year 2024 is set at $1,480. This figure is lower than the average market rent of $1,847, indicating that it is below the market rate. However, when compared to typical ZIP codes within the Boise City, ID HUD Metro FMR Area, where the FMR is generally higher, ZIP 83706 stands out as offering more affordable rental housing options. This suggests it could be considered a value pocket within the metro area.
The median home value in ZIP 83706 is $506,390, which is on par with the overall median home values in the Boise City, ID HUD Metro FMR Area. This implies that homeownership costs in this ZIP code align closely with the metro average, making it neither particularly expensive nor cheap relative to other areas.
A significant portion of the population in ZIP 83706 rents their homes, with a 52.0% renter share. This high percentage of renters, combined with the below-market FMR and average home values, signals a strong potential for Section 8 participation. Landlords and small-portfolio investors should take note of this ZIP code's characteristics, as they indicate a favorable environment for properties eligible under the Section 8 program.
In summary, ZIP 83706 presents itself as a value pocket within the Boise City, ID HUD Metro FMR Area, given its below-market FMR and high renter share. It offers an opportunity for landlords interested in participating in the Section 8 program without having to deal with significantly lower home values compared to the rest of the metro area.
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.