Location: Big Horn County, MT | Metro: Big Horn County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $2,080 |
| 4 Bedrooms | $2,530 |
| 5 Bedrooms | $2,935 |
| 6 Bedrooms | $3,287 |
| 7 Bedrooms | $3,550 |
| 8 Bedrooms | $3,728 |
U.S. Census Bureau data (2024)
The ZIP code 59031 presents several challenges for landlords considering Section 8 investments. Firstly, the tenant turnover rate is concerning due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $1,460 for fiscal year 2026. This gap can lead to difficulties in maintaining consistent occupancy rates. Secondly, the vacancy exposure is heightened by the unknown number of days on market (DOM), which makes it difficult to predict how long a property might remain vacant. Lastly, there is significant deferred-maintenance exposure. The lack of data on typical home values and median incomes suggests that properties may require substantial repairs before they can be rented out, which increases the upfront costs for landlords.
Despite these risks, the high renter share of 16.4% indicates a strong potential for voucher demand. High renter density typically translates into a robust pool of tenants who qualify for Section 8 housing assistance, thereby increasing the likelihood of finding suitable tenants. However, landlords must be prepared for the regulatory requirements and paperwork associated with the Section 8 program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.