Location: Elmore 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 | $1,560 |
| 1 Bedroom | $1,750 |
| 2 Bedrooms | $2,090 |
| 3 Bedrooms | $2,890 |
| 4 Bedrooms | $3,490 |
| 5 Bedrooms | $4,048 |
| 6 Bedrooms | $4,534 |
| 7 Bedrooms | $4,897 |
| 8 Bedrooms | $5,142 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,750 | $325,514 | 0.54% | F |
| 2BR | $2,090 | $435,086 | 0.48% | F |
| 3BR | $2,890 | $587,653 | 0.49% | F |
| 4BR | $3,490 | $740,001 | 0.47% | F |
| 5BR | $4,048 | $919,214 | 0.44% | F |
U.S. Census Bureau data (2024)
1800 is the Fair Market Rent (FMR) for ZIP 83716 in Boise, ID, for fiscal year 2024, setting a benchmark for rental housing subsidies. 2257 represents the Zillow Observed Rental Index (ZORI), indicating the average monthly rent for all homes in the area. With a median home value of 622,968, homeownership remains a significant investment in the region. The 21.2% renter share highlights the substantial portion of the population leasing their homes, suggesting a robust demand for rental properties. Median income stands at 128,822, providing insight into the financial capacity of residents. A 12-day Days on Market (DOM) reflects a quick turnover rate for listings, advantageous for real estate transactions. Lastly, the 0.2% price-cut share shows that few sellers are lowering their asking prices, signifying a strong seller's market. For landlords and small-portfolio investors considering Section 8 participation, the gap between the 1800 FMR and the 2257 market rent suggests potential for modest profitability. However, the relatively high median home value and median income indicate a mixed economic landscape where subsidy tenants may find it challenging to afford higher rents outside of the program. Given these factors, landlords should carefully assess their property values and maintenance costs before deciding to enter the Section 8 market.
Section 8 Verdict: Participation is feasible but requires careful financial planning due to the economic conditions in ZIP 83716.
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.