Location: Boise City, ID | Metro: Boise City, ID HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,220 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
The Fair Market Rent (FMR) for ZIP code 83717 in Idaho for fiscal year 2024 is set at $1430. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a federal housing assistance program. It's important to note that this is not the amount you will receive as rent; it's the payment standard used by the Housing Choice Voucher program.
In ZIP 83717, the local median rent is currently listed as N/A, making it difficult to compare directly with the FMR. However, the percentage of renters in the area is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there could be a steady demand for rental properties, especially those that accept Section 8 vouchers.
The average property acquisition cost in the area is also noted as N/A, which means you'll need to do additional research to determine if the $1430 payment standard is sufficient to cover your mortgage and other expenses. The key here is to ensure that the $1430, when combined with any additional rent you might collect from tenants above the voucher amount, covers your costs and leaves room for profit.
Before you decide to participate in the Section 8 program with your first rental in ZIP 83717, verify that the $1430 payment standard meets or exceeds your financial needs. This includes checking your monthly mortgage payments, property taxes, insurance, maintenance, and any other recurring costs associated with owning and managing a rental property. If these expenses are covered by the FMR, then you can proceed with confidence knowing that you have a solid foundation for a financially viable rental operation.
Data Sources: FMR data from HUD (2027).
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.