Location: Latah County, ID | Metro: Latah County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 83844 in metro FY 2026 is set at $1,020. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the amount that the government will pay toward your rental property's rent. It's important to note that this is not the total rent you can charge; rather, it's the maximum subsidy amount.
While the local median rent for ZIP 83844 is listed as N/A, we can still use the FMR to gauge market conditions. Assuming a 100.0% renter share, the demand for rental properties in this area aligns closely with the FMR, indicating that tenants are likely to be comfortable with rents around the $1,020 mark.
Regarding the acquisition cost of a property in ZIP 83844, the average home price is also listed as N/A. However, the FMR can serve as a useful benchmark when estimating the potential rental income versus the purchase price of a property. For instance, if you're looking at a home valued at $200,000, the annual rental income based on the FMR would be approximately $12,240, which could influence your decision on whether the investment meets your financial goals.
To ensure you're making an informed decision, verify the following before proceeding with a Section 8 rental: the actual condition and size of the property you're considering. This is crucial because the FMR does not adjust for factors such as location, amenities, or the number of bedrooms. A property that is larger or in a better location might warrant a higher rent, but it must still fall within the guidelines set by the voucher program.
In summary, the FMR of $1,020 provides a solid foundation for understanding the financial landscape of Section 8 rentals in ZIP 83844. It reflects the government's commitment to paying a reasonable portion of the rent, aligning with market demands and helping you assess the profitability of your investment.
Data Sources: FMR data from HUD (2027). 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.