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 | $1,160 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $413,471 | 0.37% | F |
| 3BR | $2,150 | $526,708 | 0.41% | F |
| 4BR | $2,590 | $822,510 | 0.31% | F |
| 5BR | $3,004 | $1,091,926 | 0.28% | F |
U.S. Census Bureau data (2024)
The Section 8 rental market in ZIP code 83714, located in Boise, ID, presents a significant opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area, set at $1410 for fiscal year 2024, is notably lower than the market rent, which stands at $1883 according to ZORI (Zillow Observed Rent Index). This creates a gap of $473 per month, or approximately 26%, between what voucher holders can pay and the actual market rate.
This discrepancy means that landlords who accept housing vouchers must be willing to rent their properties below the open-market rate. While the FMR is designed to ensure affordable housing, it places a financial burden on property owners who might otherwise command higher rents. For instance, a landlord renting an apartment for $1883 would have to accept $1410 if the tenant uses a Section 8 voucher, representing a loss of nearly one-third of potential revenue.
In the broader context of Boise, where 27.4% of residents are renters and the median home value is $557,934, the median income of $87,651 suggests that many households rely on government assistance to afford housing. The lower FMR compared to the market rent indicates that landlords should carefully consider the long-term implications of accepting Section 8 tenants. Although the rental income is guaranteed by the government, landlords must also factor in the administrative costs and potential maintenance issues associated with voucher programs.
To summarize, the gap between the FMR and market rent in ZIP 83714 underscores the financial challenge for landlords who choose to participate in the Section 8 program. They must weigh the benefits of stable, government-backed rental income against the reduced monthly rent and additional management considerations. In a city where affordability is a critical issue, landlords play a crucial role in providing housing solutions for low-income families.
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.