Location: Wheatland County, MT | Metro: Wheatland County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The ZIP code 59085 presents a unique snapshot of the rental market, particularly under the lens of Section 8 housing programs. With a Fair Market Rent (FMR) set at $1,170 for fiscal year 2026, it's clear that the government has established a benchmark reflecting the cost of renting in this area. However, the absence of data on market rent, price-cut share, days on market (DOM), and median home value suggests an incomplete picture, indicating that there might be limited activity or reporting in these categories.
The 0.0% renter share figure is particularly noteworthy. This percentage implies that virtually all residents of ZIP 59085 own their homes, which could mean several things. Firstly, it indicates a strong preference for homeownership among the population, possibly due to economic stability or cultural factors. Secondly, it suggests that there is little to no long-term housing pressure from renters seeking stable, affordable housing solutions. This can be interpreted as a sign that the area is well-suited for those looking to invest in single-family homes rather than multifamily units, given the high owner-occupancy rate.
Without historical data to draw upon, it's challenging to definitively state whether supply outpaces demand or vice versa. However, the lack of market rent data and the zero percent renter share hint at a market where demand for rental properties is exceptionally low. Landlords and small-portfolio investors should consider this when deciding to enter or expand in this market. It's crucial to understand that while the FMR provides a guideline for rental costs, the actual rental market dynamics may differ significantly, especially in areas with such a strong inclination towards homeownership.
To fully grasp the investment potential in ZIP 59085, further research into local economic conditions, employment rates, and demographic trends would be beneficial. Additionally, exploring why the renter share is so low could provide insights into the broader housing landscape and help investors make informed decisions.
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.