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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $259,986 | 0.39% | F |
| 3BR | $1,250 | $290,357 | 0.43% | F |
U.S. Census Bureau data (2024)
Silverton, ID, located in ZIP code 83873, presents a unique investment opportunity for landlords and small-portfolio investors. However, it also raises several critical questions that need addressing before committing to investment.
Objection 1: Will the Fair Market Rent (FMR) of $970 for the metro area in fiscal year 2026 cover the mortgage on a $241,465 home?
The FMR of $970 does not directly indicate whether it will cover the mortgage payment on a $241,465 home. To accurately assess this, one must consider the prevailing interest rates and the term of the mortgage. Assuming a typical 30-year fixed-rate mortgage with an average interest rate, the monthly mortgage payment for a $241,465 home could range widely depending on down payment and credit score. For instance, with a 20% down payment and an interest rate of 4%, the monthly mortgage payment would be approximately $875, which is below the FMR. This suggests that the rent could indeed cover the mortgage, but the actual figure depends on individual financial circumstances.
Objection 2: Is there enough renter demand at 32.3%?
A rental demand of 32.3% indicates that slightly over a third of the housing units are rented. While this percentage is not exceptionally high, it still represents a significant portion of the housing market. The key consideration here is the vacancy rate and the stability of the local economy. If the vacancy rate is low and the economy is stable, the demand for rentals at 32.3% can be considered healthy. It's important to note that the rental market in smaller towns like Silverton can be less volatile compared to larger metropolitan areas, making this percentage potentially sustainable.
Objection 3: Will vouchers keep pace with $686 market rents?
The Housing Choice Voucher program aims to provide assistance to eligible families, but whether these vouchers will keep up with the market rents of $686 is uncertain. According to recent data, voucher amounts can vary significantly based on location and household income. In ZIP 83873, landlords should verify the average voucher amount and understand the process of voucher renewal to ensure long-term financial viability. There is no guarantee that voucher payments will match or exceed market rents, so careful planning and possibly targeting properties to lower-income tenants who rely on such assistance is advisable.
In summary, while the data provides some insights into the potential profitability and demand in ZIP 83873, it is crucial for investors to conduct further research into local economic conditions, mortgage rates, and the specifics of the Housing Choice Voucher program to make informed decisions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.