Location: Shoshone County, ID | Metro: Shoshone 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 | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $444,511 | 0.31% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 83839 might raise several concerns regarding the feasibility of investing in this area, particularly in relation to Section 8 housing. Let's address these objections with the available data.
Objection 1: Will the Fair Market Rent (FMR) of $1,060 for the metro area in fiscal year 2026 cover the mortgage on a home priced at $338,477?
The FMR of $1,060 does not directly correlate to the mortgage amount on a home valued at $338,477. To accurately assess this, one must consider the prevailing interest rates and the term of the mortgage. Assuming a 30-year fixed-rate mortgage with an average interest rate of 4%, the monthly payment on a $338,477 home would be approximately $1,600 without including property taxes and insurance. This means that the FMR of $1,060 would not cover the entire mortgage payment, leaving a shortfall of around $540 per month. However, it's important to note that property values can vary significantly within a zip code, and lower-priced homes could have a mortgage payment closer to the FMR.
Objection 2: Is there enough renter demand at 1.8%?
The 1.8% figure likely represents the percentage of the total population that is rental-dependent. This low percentage suggests a limited pool of potential renters, which could be a concern. However, the actual number of renters needed to fill Section 8 units depends on the total number of available units and the local vacancy rate. If the vacancy rate is high, the 1.8% could represent a sufficient demand. Conversely, if the vacancy rate is low, this percentage might indicate a challenge in finding tenants. The data provided does not include the local vacancy rate, so we cannot definitively conclude whether the demand is adequate. It is recommended to conduct further research into the local rental market conditions.
Objection 3: Will vouchers keep pace with the market rents?
The data does not provide information on the current market rents in ZIP 83839, nor does it offer any projections on how voucher amounts will adjust over time. Without this specific information, it is difficult to predict if vouchers will continue to match the rising costs of market rents. Typically, the U.S. Department of Housing and Urban Development adjusts voucher amounts annually based on the FMR, but local factors such as economic growth and supply-demand dynamics can influence the actual market rents. Therefore, while vouchers aim to stay aligned with the FMR, they may not always reflect the precise market conditions in ZIP 83839.
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.