Section 8 Fair Market Rent (FMR) for ZIP 59104 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 59104, located in Billings County, Montana, presents unique challenges and opportunities for landlords and small-portfolio investors due to the lack of comprehensive demographic data. While key indicators such as the number of residents, percentage renting, median income, and median home value are not available, the focus shifts to the economic realities of voucher holders and market conditions.

In the realm of voucher economics, the Fair Market Rent (FMR) for ZIP 59104 has been set at $1150 for fiscal year 2024. This figure is crucial for understanding the rental subsidies that tenants can bring to the table. Despite the absence of specific market rent data, the FMR provides a benchmark for setting competitive rental rates that align with government assistance programs. Landlords should aim to price their units close to this mark to attract voucher holders without undervaluing their properties.

The data signature for ZIP 59104 reads as "transitional." The lack of detailed demographic information suggests that the area might be undergoing changes, either in population dynamics or economic status, which could affect the rental market. For investors, this transitional phase means potential for growth but also requires vigilance in monitoring local trends and adapting strategies accordingly. Engaging with local real estate associations and staying updated on regional economic reports will be essential to navigate this period effectively.

Data Sources: FMR data from HUD (2027).

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.