Section 8 Fair Market Rent (FMR) for ZIP 59013 - 2027

Location: Billings, MT | Metro: Billings, MT HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,160
1 Bedroom	$1,300
2 Bedrooms	$1,650
3 Bedrooms	$2,290
4 Bedrooms	$2,600
5 Bedrooms	$3,016
6 Bedrooms	$3,378
7 Bedrooms	$3,648
8 Bedrooms	$3,830

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

199

Median Household Income

$200,125

Housing Units

Renter Percentage

N/A

Occupancy Rate

80.9%

Renter Occupied

The ZIP code 59013, located in Montana, is characterized by a rural landscape with limited rental housing demand. This area offers unique opportunities for real estate investors who are looking beyond traditional urban markets.

The Fair Market Rent (FMR) for ZIP 59013 in fiscal year 2024 is set at $1230, which reflects the average rent level for a modest apartment suitable for lower-income families.
The market rent data is currently unavailable (N/A) for this specific ZIP code, indicating that there might be limited activity or data points to analyze typical rental prices.
The median home value is also marked as N/A, suggesting that comprehensive data on residential property values in this area is sparse or not regularly updated.
Rental housing is virtually non-existent in ZIP 59013, with a reported 0.0% renter share, implying that homeownership is predominant and likely preferred by residents.
The Days on Market (DOM) data is not available (N/A), which could mean that listings are rare or quickly sold, leading to insufficient data for analysis.
The median household income in ZIP 59013 is $200,125, significantly higher than the national average, suggesting a relatively affluent population that can afford higher costs of living and potentially higher property values.

Given the high median income and low rental share, it's evident that ZIP 59013 leans towards a homeowner-dominated market rather than a rental-focused one. The absence of market rent and median home value data underscores the need for thorough local research before investing, as these factors will heavily influence potential returns. For small-portfolio investors and landlords, this ZIP code may offer limited opportunities due to the scarcity of rental properties and the strong preference for homeownership among locals. However, for those interested in long-term investments or second-home opportunities, the area's wealth indicators suggest a stable and potentially lucrative environment.

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.