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 ZIP code 59256 is home to 258 residents, making it a small community with unique characteristics. Notably, 45.9% of these residents rent their homes, which is slightly above the national average. The median income in this ZIP stands at $36,607, reflecting a modest economic status among its inhabitants.
Despite the limited data available, the Federal Market Rent (FMR) for ZIP 59256 is set at $1,210 for the fiscal year 2026, indicating the government's benchmark for rental costs. This figure is crucial for landlords and small-portfolio investors considering participation in the Section 8 program. However, the absence of current market rent data makes it challenging to compare the FMR against actual local rents, suggesting a need for further investigation into the local rental market dynamics.
Given the small size of the community and the reliance on federal guidelines for rental costs, the ZIP code 59256 appears to be in a transitional phase. The lack of a defined median home value also points towards a developing area where property values might fluctuate based on new investments or changes in the local economy. Landlords should monitor both the local rental market and federal updates closely to make informed decisions about their properties.
To summarize, while ZIP 59256 offers opportunities for landlords through the Section 8 program, with an FMR of $1,210, the community's economic profile and the incomplete data suggest a transitional environment. Investors should proceed with caution and stay updated on local and federal developments to ensure profitability and compliance.
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.