Location: Bonner County, ID | Metro: Bonner County, ID
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 | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $397,486 | 0.29% | F |
| 3BR | $1,580 | $504,771 | 0.31% | F |
| 4BR | $1,860 | $609,457 | 0.31% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 83822, Oldtown, ID, operate under specific parameters that landlords need to understand. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2026 is set at $1,060. This figure is specific to this ZIP code, reflecting local housing conditions and costs.
In contrast, the local market rent for a similar unit is recorded at $887 according to the Census ACS data. This discrepancy highlights the financial considerations involved when accepting a Section 8 tenant.
A voucher payment typically covers the difference between the tenant's contribution and the SAFMR. The tenant's portion is generally 30% of their adjusted income, which can vary widely depending on individual circumstances. Additionally, there are utility allowances that must be factored into the total compensation. These allowances are designed to cover a reasonable amount of utility expenses, but they do not typically exceed the average cost in the area.
To walk through an example, assume a tenant contributes 30% of their income towards rent. If the tenant's monthly adjusted income is $1,500, their contribution would be $450. The voucher would then cover the remaining balance up to the SAFMR of $1,060. Therefore, the voucher would pay out $610 in this scenario, assuming no additional utility allowances are applicable.
The typical reimbursement gap or surplus occurs because the SAFMR is higher than the local market rent. In ZIP 83822, landlords can expect a reimbursement gap where the voucher amount exceeds the typical market rent. Specifically, for a two-bedroom unit, the gap is $173 ($1,060 - $887), indicating that landlords could receive slightly more than the usual market rate when renting to a Section 8 tenant.
This extra amount, however, does not guarantee profit as it needs to be weighed against the administrative burden and potential delays in receiving payments. Nonetheless, it provides a clear economic picture for landlords considering participation in the Section 8 program in this specific ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.