Location: Valley County, MT | Metro: Garfield County, MT
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,050 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $395,871 | 0.35% | F |
| 3BR | $1,930 | $432,772 | 0.45% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 59223, located in Circle, Montana, presents a unique set of dynamics that frame it as a market in motion. The Fair Market Rent (FMR) for the area is set at $1,350, effective for fiscal year 2026, indicating a level of rental pricing that reflects both the local economy and federal guidelines. However, the lack of current market rent data suggests either a nascent or highly specialized rental market.
The absence of data on price-cut shares and days on market (DOM) implies a stable housing environment, where transactions are likely completed without significant negotiation or prolonged listing periods. This stability could be indicative of a balanced market where neither supply nor demand overwhelmingly outpaces the other.
A median home value of $354,041 places Circle, MT, within a moderate range compared to larger metropolitan areas, suggesting that homeownership is accessible to a broad segment of the population. The striking figure of 0.0% renter share points to a predominantly owner-occupied community, which can alleviate immediate pressures on the rental market but also indicates long-term housing trends where residents prefer to own rather than rent.
This characteristic can have several implications. First, it reduces the volatility often associated with rental markets, providing a more predictable income stream for landlords. Second, it signals a strong sense of permanence and investment in the local community, which can be beneficial for property values over time. Lastly, it highlights the importance of the homeownership market in driving economic activity and stability within the area.
In summary, ZIP 59223 appears to be a market characterized by stability and owner-occupation. The lack of specific rental market data suggests a niche or developing sector, while the low renter share points towards a community that leans heavily towards homeownership, potentially reducing short-term rental pressures and ensuring a steady, if not rapidly growing, housing market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.