Location: Big Horn 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 | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 59064 reveals a unique balance between yield and stability, making it an intriguing market for both landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area stands at $1030 for fiscal year 2024, which is a critical figure for understanding the potential rental income. However, the lack of specific data regarding market rents and home values leaves us with limited comparative metrics, thus suggesting that the FMR could be a reliable indicator of the average rental price.
On the stability axis, ZIP 59064 has a relatively low percentage of renters at 13.7%. This indicates a market where homeownership is more prevalent, which can lead to less volatility in the rental sector. Without detailed information on the days-on-market (DOM) and median income, we must rely on the existing data to infer that the market might be less dynamic compared to areas with higher renter populations.
The absence of certain key metrics such as market rents, home values, and median income complicates a precise classification of the market. However, based on the available information, ZIP 59064 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The defined FMR suggests a predictable income level, while the lower percentage of renters points to a stable housing environment where tenants may have a longer-term commitment to their living spaces.
To make a more informed decision, additional research into the local real estate trends and economic conditions would be beneficial. Specifically, obtaining the most recent data on market rents, home values, and median income will provide a clearer picture of the investment potential and risk profile associated with this ZIP code.
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.