Location: Sweet Grass County, MT | Metro: Stillwater County, MT HUD Metro FMR Area
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 | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $333,128 | 0.35% | F |
| 3BR | $1,580 | $487,865 | 0.32% | F |
| 4BR | $1,900 | $627,670 | 0.3% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 59011, Big Timber, Montana, for fiscal year 2024 is set at $1020. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is a federal government initiative designed to help low-income families afford housing. It's important to note that this is the payment standard, meaning it's the cap on what the government will pay towards the tenant's rent, not necessarily the rent you can charge.
Comparatively, the average rent for the area, according to Census ACS data, is $1,143. This indicates that the FMR is slightly below the market rate, suggesting that landlords participating in the Section 8 program might need to adjust their expectations for rental income. However, the FMR does not account for additional factors such as utilities or maintenance costs, which can vary.
In ZIP code 59011, approximately 20.9% of residents are renters. This statistic provides insight into the local demand for rental properties. While the percentage might seem relatively low, it still represents a significant portion of the population that could be interested in your property, especially if they qualify for Section 8 assistance.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in the area is around $460,337. This is the typical price range you should expect when looking to acquire a new rental property in Big Timber. Keep in mind that the actual purchase price may vary based on the condition and location of the property.
Before committing to a Section 8 rental, verify that the property meets all the necessary requirements for participation in the program. This includes ensuring that the property passes a Housing Quality Standards (HQS) inspection, which checks for basic safety and habitability standards. This step is crucial because failing to meet these standards can result in disqualification from the program, leading to potential financial losses.
To summarize, while the FMR of $1020 is lower than the average market rent of $1,143, it still offers a viable option for landlords willing to participate in the Section 8 program. The 20.9% renter share suggests there is demand for affordable housing in the area, and the median home value of $460,337 gives you an idea of the investment required. However, make sure your property meets the HQS to avoid any issues with program compliance.
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.