Location: Stillwater County, MT | Metro: Billings, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
ZIP code 59019, located in Columbus, Montana, stands out in Stillwater County due to its unique demographic and economic characteristics. With a population of 4,438 residents, the area has a relatively low rental rate of 15.9%, indicating that most residents prefer homeownership. The median income of $84,591 suggests a stable financial environment where residents can afford the median home value of $467,023.
The voucher economics in Columbus are favorable for landlords and small-portfolio investors. The Fair Market Rent (FMR) for ZIP 59019 is set at $990 for fiscal year 2024, which is higher than the current market rent of $936 according to the Census American Community Survey. This means that Section 8 vouchers can cover a larger portion of the rent compared to the actual market rates, making it easier for tenants to afford housing and providing a reliable source of income for property owners.
The data signature for ZIP 59019 reads as stable. The high median home value and median income indicate a strong local economy that supports homeownership. Additionally, the slight disparity between the FMR and market rent shows a consistent demand for affordable housing, making Section 8 properties attractive to both tenants and investors. Landlords should consider the benefits of participating in the Section 8 program to ensure steady occupancy and income in this stable market.
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.