Location: Billings, MT | Metro: Billings, MT HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,680 |
| 3 Bedrooms | $2,330 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,680 | $378,289 | 0.44% | F |
| 3BR | $2,330 | $600,402 | 0.39% | F |
| 4BR | $2,650 | $661,381 | 0.4% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 59041 (Joliet, MT) on the axes of yield and stability reveals it to be a moderate cash-flow opportunity with some considerations regarding stability.
On the yield axis, the Fair Market Rent (FMR) for ZIP 59041 in fiscal year 2024 is set at $1,220. This figure is notably higher than the market rent of $1,185, indicating a slight premium for Section 8 tenants in this area. However, the median home value of $537,182 suggests that housing costs are relatively high compared to the rental rates, which could impact overall profitability for landlords.
Moving to the stability axis, the ZIP code has a relatively low percentage of renters at 18.7%, which is below the national average. This lower renter rate implies that there may be fewer potential tenants in the market, potentially leading to longer vacancy periods. Additionally, the median household income of $80,500 provides insight into the economic health of the area but does not directly correlate to rental demand stability without further context on unemployment rates and economic drivers. The absence of data on the number of days on market (DOM) makes it challenging to assess the speed at which properties can be rented out, adding another layer of uncertainty to the stability assessment.
Given these factors, ZIP 59041 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slight premium on FMR over market rent supports a steady income stream, but the relatively low renter population and high home values suggest that rapid turnover and flipping properties may not be as lucrative or stable as in other markets.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.