Location: Stillwater County, MT | Metro: Stillwater County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
U.S. Census Bureau data (2024)
The skepticism surrounding investing in ZIP 59067, located in Rapelje, Montana, can be addressed with concrete data. One common objection is whether the Fair Market Rent (FMR) of $1020 will cover the mortgage on a typical home in this area. Unfortunately, the specific average home price for ZIP 59067 is currently not available. However, understanding the local rental market and voucher usage can provide valuable insights into the investment potential.
Another concern is the level of renter demand, standing at 28.0%. While this figure might seem low compared to urban areas, it reflects the reality of a rural setting. According to recent market data, the rental market in 59067 is stable, with 18.64% of residents renting their homes. This indicates that there is a consistent need for rental properties in the area. Moreover, the fact that 58.33% of homeowners own their homes free and clear suggests a community that values long-term stability and ownership, which can be beneficial for landlords seeking reliable tenants.
A final objection is whether the Housing Choice Voucher program can keep pace with market rents, which average around $444. The FMR of $1020 is significantly higher than the average market rent, indicating that vouchers could potentially cover a substantial portion of the rent. However, the effectiveness of vouchers depends on their availability and the willingness of landlords to accept them. Given the relatively low market rent, accepting vouchers could still yield a profitable return on investment for landlords willing to participate.
In summary, while the average home price in ZIP 59067 is not immediately available, the rental market appears stable with a notable percentage of residents renting. The FMR is considerably above the average market rent, suggesting that vouchers can play a role in covering rent costs. For landlords and small-portfolio investors, these factors point towards a viable investment opportunity in this rural 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.