Location: Prairie County, MT | Metro: McCone County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 59214 is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. However, there's a critical piece of information missing: the market rent figure for the area. As of the fiscal year 2026, the FMR for ZIP 59214 stands at $1,420. This figure represents the maximum amount that a landlord can charge a tenant who is using a housing voucher.
Given the lack of specific market rent data, it's important to consider other contextual factors when analyzing the potential of Section 8 properties in this area. The ZIP code has 0.0% of its population identified as renters, which suggests that homeownership is the predominant form of housing in the region. The median home value and median income figures are also listed as N/A, indicating that comprehensive economic data might be unavailable or unreliable for making precise financial projections.
In the absence of market rent figures, if we assume that the market rent exceeds the FMR of $1,420, landlords participating in the Section 8 program will be accepting a lower rent than what they could potentially charge on the open market. This scenario would mean that voucher tenants represent a yield play, where landlords must weigh the guaranteed, albeit lower, rental income against the stability and reduced vacancy risk that comes with having a reliable source of tenants through the Section 8 program.
If the market rent were hypothetically lower than the FMR, then the situation would be more favorable for landlords, as they could charge closer to the FMR and still attract tenants. In such a case, the cost of housing voucher tenants would not be a significant concern, as the guaranteed income from the voucher would cover the majority of the property's costs and provide a steady stream of revenue.
Landlords and small-portfolio investors should carefully evaluate the specific dynamics of ZIP 59214 before making decisions about participation in the Section 8 program. The unique characteristics of the area, including the low percentage of renters and the lack of detailed economic data, present both challenges and opportunities. While the FMR provides a benchmark for rental pricing, the true impact on investment yields will depend on the actual market conditions and the landlord's ability to manage costs effectively.
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.