Location: Shoshone County, ID | Metro: Shoshone County, ID
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,300 |
| 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)
ZIP 83867, located in Shoshone County, ID, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the significant spread between the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which is set at $970, and the lack of available market rental rates. The absence of market rental rates indicates that there isn't sufficient data to assess whether the local rental market is competitive or if there are other factors affecting rental pricing.
The median home value in ZIP 83867 stands at $308,050. Given the FMR, this suggests that properties in this area can be rented out at a rate that exceeds the cost of ownership, including mortgage payments, property taxes, insurance, and maintenance. Landlords can expect steady and reliable cash flow from tenants participating in the Section 8 program, as the government will cover the difference between the actual rent and what the tenant can afford based on their income.
Furthermore, the ZIP code has a 6.2% renter share, indicating that a majority of the residents own their homes. This low percentage of renters could mean that there's less competition in the rental market, making it easier for landlords to secure tenants through the Section 8 program. Additionally, the median income in the area is $90,074, which is relatively high compared to the national average. This suggests that while the renter share is low, those who do rent are likely to be stable and capable of fulfilling their obligations under the Section 8 program.
In conclusion, ZIP 83867 serves as an ideal cash-flow anchor for a Section 8 portfolio due to the guaranteed rental income provided by the FMR and the stability it offers landlords in terms of consistent returns. The high median home value and median income further support this position, ensuring that properties in this ZIP code are likely to provide reliable and predictable cash flow, which is crucial for maintaining financial stability within a real estate investment portfolio.
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.