Location: Garfield County, MT | Metro: Garfield County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The ZIP code 59077 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the disparity between the market rent and the $1,100 Fair Market Rent (FMR) set for fiscal year 2026 in the metropolitan area. This difference can lead to higher tenant mobility, as individuals may seek more affordable housing options outside the program. Additionally, the vacancy exposure is heightened by the unknown days on market (DOM), indicating potential difficulties in filling vacancies quickly. The deferred maintenance risk is also elevated because the typical home value and median income in the area are not specified, which suggests that homeowners might struggle to keep up with necessary repairs and improvements.
Despite these risks, there are factors that mitigate the overall investment risk. With a 19.0% renter share, the ZIP code boasts a high concentration of renters, which typically translates into a robust demand for rental properties. This demand often includes a higher number of Section 8 voucher holders looking for suitable housing, thereby increasing the likelihood of finding qualified tenants. Moreover, the presence of a large renter population can help stabilize the local rental market, reducing the impact of vacancy periods on cash flow.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.