Location: Sheridan County, MT | Metro: Roosevelt County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The ZIP code 59242 is situated in a suburban area of Missoula, Montana. This neighborhood is characterized by a relatively small population of 55 individuals, indicating a close-knit community where residents often know their neighbors. With only 11.5% of the population renting, it is predominantly composed of homeowners, suggesting a stable and potentially long-term resident base. The median household income in this area stands at a robust $128,750, which is significantly higher than the national average, pointing towards a financially secure community.
Despite the high median income, the median home value is currently not available, which could indicate an underdeveloped real estate market or a lack of recent sales data. However, the Fair Market Rent (FMR), which is the benchmark used by the U.S. Department of Housing and Urban Development for setting the payment standards for Section 8 vouchers, is set at $1,210 for the fiscal year 2026. This figure represents the expected rental cost for a typical unit in the metropolitan area, but without specific market rent data for ZIP 59242, it's challenging to compare how competitive this rate is against actual local rents.
Given these characteristics, ZIP 59242 would likely be a suitable location for a hands-off Section 8 voucher operator. The high median income suggests that there is a demand for affordable housing, making Section 8 vouchers a viable option for tenants. However, the low percentage of renters might mean fewer potential voucher holders. For a hands-on value-add buyer looking to renovate and manage properties, the opportunity to capitalize on the financial stability of the area could be attractive, especially if they can identify properties below the FMR threshold.
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.