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 | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $611,087 | 0.2% | F |
| 3BR | $1,680 | $810,979 | 0.21% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 83836, which includes Hope, ID, stands at $97,083. At the current market rate of $1,375 for rent (as per Census ACS), it would be challenging for the average household to allocate a significant portion of their income towards housing costs. This market rate represents approximately 16.2% of the median annual income, which is already above the recommended threshold of 30% for monthly housing expenses.
In comparison, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070. This means that households receiving Section 8 vouchers could potentially pay less than the market rate, as the voucher system aims to cover up to 40% of the household's income, with a cap at the FMR level. Therefore, a household with an income of $97,083 would likely have a voucher covering around $388.32 per month, based on 40% of the median income, leaving the government to subsidize the remaining amount up to $1,070.
Given that only 9.6% of the 980 residents are renters, the competition among landlords is relatively low. However, the affordability gap between the market rate ($1,375) and the voucher payment standard ($1,070) is substantial. This difference implies that landlords who accept Section 8 vouchers will receive a lower rent compared to those who opt for market-rate tenants paying in cash.
The takeaway for landlords considering whether to accept voucher tenants or focus on cash-paying renters is clear: while the number of renters is limited, accepting vouchers can still provide a steady stream of income, albeit at a lower rate than the market. Landlords should weigh the benefits of guaranteed rental payments against the potential for higher income from non-voucher tenants. Additionally, landlords might consider offering incentives or maintaining competitive pricing to attract both types of tenants, thereby maximizing occupancy and minimizing vacancy rates.
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.