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 | $1,120 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,220 |
| 4 Bedrooms | $2,530 |
| 5 Bedrooms | $2,935 |
| 6 Bedrooms | $3,287 |
| 7 Bedrooms | $3,550 |
| 8 Bedrooms | $3,728 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,600 | $474,073 | 0.34% | F |
| 3BR | $2,220 | $634,636 | 0.35% | F |
U.S. Census Bureau data (2024)
ZIP code 59070, located in Roberts, MT, is a small, predominantly owner-occupied neighborhood with a total population of 1,403. Only 10.4% of the residents are renters, indicating a community where homeownership is highly valued. The median household income in this area is $96,250, which suggests a middle to upper-middle class demographic. The median home value stands at $573,109, reflecting the high cost of property in this region.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 59070 in fiscal year 2024 is set at $1,240. This figure is notably lower than the average market rent of $1,375, according to Census ACS data. The discrepancy between the FMR and the market rent indicates a potential challenge for landlords who rely solely on Section 8 vouchers, as they might struggle to cover costs associated with higher-priced units. However, it also presents an opportunity for investors willing to manage properties more actively, ensuring that they meet the needs of tenants while maintaining profitability.
The question then becomes whether this area suits a hands-off voucher operator or a hands-on value-add buyer. Given the relatively low percentage of renters and the significant gap between FMR and market rent, Roberts, MT is better suited for a hands-on investor. Such an investor would need to focus on enhancing property values and ensuring compliance with HUD standards to attract and retain Section 8 tenants effectively. A hands-off approach may lead to financial strain due to the limited number of eligible tenants and the higher costs of maintaining properties in this affluent area.
To summarize, ZIP 59070 in Roberts, MT, offers a unique investment landscape characterized by high property values and incomes. The mismatch between FMR and market rents requires active management to succeed as a landlord. For those willing to engage deeply with their investments, there is potential for growth and returns. However, hands-off operators should proceed with caution given the economic realities of the area.
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.