Location: Wheatland County, MT | Metro: Stillwater County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
U.S. Census Bureau data (2024)
A landlord considering investing in ZIP code 59074 for Section 8 purposes must evaluate several factors to make an informed decision. The first step is to determine if the Fair Market Rent (FMR) of $1020 for the fiscal year 2024 can cover the debt service on a property valued at $240,919. To calculate this, we need to know the annual debt service, which includes mortgage payments, taxes, insurance, and other costs. If the annual debt service is less than $1020 multiplied by 12 months, then the answer is yes, the FMR clears the debt service.
The second consideration is comparing the market rent of $813 (as per Census ACS data) against the FMR. If the market rent is below the FMR, landlords can potentially charge the higher FMR rate for Section 8 tenants, making it a favorable investment. If the market rent is equal to or above the FMR, landlords will face competition from non-Section 8 rentals, and the investment becomes less attractive unless they can secure long-term Section 8 contracts.
Lastly, the demand must be assessed. With 15.7% of residents being renters and the number of days on the market (DOM) being listed as 'N/A', there is limited data to fully evaluate the rental market's health. However, the 15.7% figure suggests a moderate level of demand. If the property can be rented out quickly and consistently, then the answer is yes, there is sufficient demand. Otherwise, it depends on the landlord's ability to manage vacancies and the overall economic conditions of the area.
To summarize:
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.