Location: Musselshell County, MT | Metro: Stillwater County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The ZIP code 59046 is located in a small, rural neighborhood characterized by a modest population of 577 residents. The area has a relatively low percentage of renters at 16.8%, indicating a predominantly owner-occupied community. The median household income stands at $74,000, which is above the national average, suggesting a financially stable demographic. The median home value is $326,634, reflecting a middle-class residential environment where homeownership is valued.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 59046 for fiscal year 2024 is set at $1,020. This figure contrasts with the reported market rent of $783 based on Census ACS data, revealing a potential gap between government-set rental standards and actual market conditions. For landlords and small-portfolio investors, this discrepancy can be leveraged to secure higher rents through Section 8 vouchers, which often cover the full FMR amount.
Given these economic parameters, ZIP 59046 is well-suited for both hands-off voucher operators and hands-on value-add buyers. Voucher operators can benefit from the stability of Section 8 payments, which are guaranteed and typically cover the full FMR. On the other hand, value-add buyers have an opportunity to renovate properties and command closer to the FMR, thereby increasing their cash flow. However, the limited number of renters in the area means that the pool of potential Section 8 tenants is also smaller, necessitating careful property management to ensure consistent occupancy.
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.