Location: Big Horn County, MT | Metro: Big Horn County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
U.S. Census Bureau data (2024)
24.7% of the residents in ZIP code 59022 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to understand the demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,490, which represents the upper limit for Section 8 rental payments. Comparatively, the market rent based on Census ACS data stands at $474, suggesting that rental prices in the area are below the FMR threshold, potentially offering opportunities for landlords to receive higher payments through the Section 8 program. The median income in ZIP 59022 is $53,083, providing insight into the economic status of the local population and their ability to contribute to rent beyond what the government subsidizes.
The lack of available data on median home values and days on market (DOM) indicates a possible scarcity of home sales or a less active real estate market overall. Similarly, the absence of information on the percentage of price-cut shares suggests that there might not be frequent price adjustments in the area, hinting at a stable real estate market. For investors interested in the Section 8 program, the disparity between the FMR and the current market rent presents an attractive scenario where they can potentially benefit from higher guaranteed rental incomes while serving a community in need of affordable housing solutions.
Given the outlined metrics, landlords and small-portfolio investors should consider the ZIP 59022 as a viable market for Section 8 rentals, especially if they aim to leverage the higher FMR rates against lower market rents.
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.