Location: Benewah County, ID | Metro: Coeur d'Alene, ID MSA
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 | $1,000 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,180 | $692,454 | 0.17% | F |
| 2BR | $1,400 | $799,819 | 0.18% | F |
| 3BR | $1,940 | $1,017,281 | 0.19% | F |
| 4BR | $2,340 | $1,575,880 | 0.15% | F |
| 5BR | $2,714 | $3,375,428 | 0.08% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 83833 in Harrison, ID, provides a clear picture of potential returns for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a 2-bedroom apartment in fiscal year 2024 is set at $1,110 annually, while the market rent based on Census ACS data stands at $1,063 per month.
To calculate the gross yield, we use the median home value of $974,420. For the FMR scenario, the annual rental income would be $13,320 ($1,110 x 12 months), leading to an implied gross yield of approximately 1.37%. In contrast, using the market rent figure of $1,063 per month, the annual rental income would be $12,756, resulting in an implied gross yield of about 1.31%.
Given the low renter density of 10.2%, it's important to consider the likelihood of finding tenants willing to pay the FMR versus the market rent. The N/A-day DOM (days on market) suggests that there is limited data on how quickly properties are rented out in this area, making it difficult to predict vacancy rates accurately.
Despite the slight difference in gross yields between the two scenarios, the market rent of $1,063 per month appears more realistic for the area. Landlords should focus on the market rent when assessing potential returns, as the higher FMR might not be achievable given the local rental market conditions and the relatively low number of renters.
In conclusion, the gross yield based on the market rent is 1.31%, which is slightly lower than the 1.37% yield based on the FMR. Investors should prioritize the market rent figure for a more accurate assessment of potential returns in Harrison, ID.
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.