Location: Coeur d'Alene, 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 | $1,520 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $3,010 |
| 5 Bedrooms | $3,492 |
| 6 Bedrooms | $3,911 |
| 7 Bedrooms | $4,224 |
| 8 Bedrooms | $4,435 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,540 | $624,189 | 0.25% | F |
| 2BR | $1,800 | $516,939 | 0.35% | F |
| 3BR | $2,490 | $605,036 | 0.41% | F |
| 4BR | $3,010 | $752,349 | 0.4% | F |
| 5BR | $3,492 | $953,477 | 0.37% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 83835, which encompasses Hayden, ID, reveals a significant disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR stands at $1440, while the market rent, as measured by the Zillow Rent Index (ZORI), is $2241. This means that the FMR is $801 lower than the market rent, representing a 35.7% discount.
The gap between these two figures is critical for landlords and small-portfolio investors because it directly impacts the profitability and risk associated with renting to Section 8 tenants. Given that the FMR is less than the market rent, landlords who accept Section 8 vouchers must consider the cost of housing their tenants below the open-market rates. The difference of $801 per month could result in a financial shortfall if not managed properly. However, the stability of rental payments from the government can offset some of this loss, making it a strategic choice for those seeking steady cash flow over higher monthly rents.
In the context of Hayden, ID, where 18.3% of residents are renters, and the median home value is $647,064, the median income of $91,316 suggests that many individuals may struggle to afford market-rate rents. As such, the Section 8 program plays a vital role in ensuring affordable housing options for low-income families. Landlords should be aware that while the FMR is set below the market rate, the program provides a guaranteed payment structure that can be beneficial in a rental market where vacancy rates might otherwise be high due to the limited affordability for local residents.
To summarize, the $801 gap between the FMR and market rent in ZIP 83835 presents both challenges and opportunities for landlords. It necessitates careful consideration of the costs involved in accepting Section 8 tenants but also offers the potential for a stable yield in an area where many residents have a median income of $91,316 and face the challenge of paying $2241 in market rent.
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.