Location: Sheridan County, MT | Metro: Sheridan County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
U.S. Census Bureau data (2024)
The market in ZIP code 59252 is currently characterized by a fixed Fair Market Rent (FMR) figure of $1,210 for the fiscal year 2026. This static data point suggests a stable rental environment, but the lack of additional metrics such as market rent, price-cut share, days on market (DOM), and median home value indicates a limited understanding of the current market dynamics. The absence of these figures could imply that the area has a low turnover rate or is less frequently tracked due to its smaller size or rural setting.
A standout feature of this market is the reported 0.0% renter share, which is an anomaly and likely an error or misrepresentation. Typically, even in areas with strong homeownership rates, there will be some percentage of renters. This figure, if accurate, would suggest an extremely low demand for rental properties, indicating a market dominated by owner-occupied homes. Such a scenario can create long-term housing pressures, as it may limit the availability of affordable housing options for those who cannot afford to buy or prefer to rent.
The FMR of $1,210 represents the threshold for affordability in federally assisted housing programs, including Section 8. However, without knowing the market rent, it's challenging to assess whether the FMR aligns closely with what tenants are actually paying. If the market rent is significantly higher, landlords participating in Section 8 might find themselves with a lower occupancy rate or facing challenges in covering their costs.
In conclusion, ZIP 59252 presents itself as a niche market with potentially low demand for rental properties. The stability indicated by the FMR contrasts with the uncertainty around other key metrics, suggesting a need for further investigation into the local real estate trends and policies affecting the rental sector.
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.