Location: Musselshell County, MT | Metro: Billings, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,230 |
| 5 Bedrooms | $2,587 |
| 6 Bedrooms | $2,897 |
| 7 Bedrooms | $3,129 |
| 8 Bedrooms | $3,285 |
U.S. Census Bureau data (2024)
The ZIP code 59015 stands out due to its unique demographic and economic characteristics. With a population of just 394 residents, it has a rental rate of 11.1%, indicating that the majority of residents own their homes. The median income here is $69,583, which suggests a middle-class community. Additionally, the median home value is $384,343, reflecting a higher-end housing market.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 59015 in fiscal year 2024 is set at $1070. However, there is no available data on the market rent for this area, making it difficult to compare the FMR against local market conditions. This lack of market rent data could be an indicator of limited rental activity or a smaller rental sector within the ZIP code.
The data signature for ZIP 59015 reads as stable. The high median home value combined with a low percentage of renters suggests a community where homeownership is prevalent and affordable housing options are less common. Landlords and small-portfolio investors should consider the limited demand for rentals when deciding to invest in this area.
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.