Location: Roosevelt County, MT | Metro: Richland County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
U.S. Census Bureau data (2024)
The market in ZIP code 59218 is characterized by a significant gap between the Fair Market Rent (FMR) and the actual market rent, indicating that while the federally recognized benchmark stands at $1,530, the average rent paid by tenants is notably lower at $1,110. This suggests that the rental market in this area is currently experiencing downward pressure, likely due to an oversupply of rental units relative to demand.
The median home value of $181,459 provides insight into the overall economic profile of the area, reflecting a middle-class neighborhood with relatively affordable housing options. However, the dynamics of the rental market do not directly correlate with home values, as evidenced by the disparity between FMR and actual rents.
A key indicator of the rental market's health is the 29.7% renter share, which implies a substantial portion of the population opts to rent rather than own. This high percentage of renters can be indicative of long-term housing pressure, suggesting that many residents may face challenges in transitioning to homeownership, possibly due to financial constraints or other barriers.
The lack of specific data on price-cut share and days on market (DOM) makes it challenging to provide a detailed analysis of the current supply-demand balance. Nonetheless, the overall picture painted by the available data points toward a market where supply may be outpacing demand, particularly in the rental sector. Landlords and small-portfolio investors should take note of these conditions and consider strategies that address the current market realities, such as maintaining competitive pricing and ensuring properties meet local standards to attract tenants.
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.