Location: Sheridan County, MT | Metro: Roosevelt County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,650 |
| 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 economics of Section 8 in ZIP code 59258 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1,210 per month for fiscal year 2026. This SAFMR is specifically tailored to this ZIP code, reflecting the local rental market conditions accurately.
Local market rents in ZIP 59258 have not been provided, but it's important to understand that the SAFMR serves as a benchmark. If the market rent is higher than the SAFMR, landlords might face a surplus; if it's lower, they could see a gap between what they charge and what the voucher covers.
A Section 8 voucher works by covering the difference between 30% of a tenant's income and the SAFMR. For example, if a tenant's monthly income is $2,000, they would pay 30% of that, which is $600, towards rent. The voucher would then cover the remaining $610 to meet the SAFMR of $1,210.
Utility allowances are also part of the equation. These allowances vary based on the location and the type of unit. In ZIP 59258, the allowance is not specified, but typically, it can range from $200 to $300 per month. Landlords should note that these allowances are separate from the rent and are paid directly to the tenant.
To illustrate further, if the utility allowance is $250, the total monthly payment a landlord receives from the voucher program for a two-bedroom unit would be $1,210 plus $250 for utilities, totaling $1,460. However, the tenant's share remains at 30% of their income, which in our example is $600.
The typical reimbursement gap or surplus for a two-bedroom unit in ZIP 59258 can be calculated based on the local market rates. Since the local market rent is not provided, we cannot calculate an exact figure. However, if the market rent is above $1,210, landlords will need to negotiate with tenants to ensure they do not lose money. Conversely, if the market rent is below $1,210, landlords can expect a surplus.
In conclusion, landlords in ZIP 59258 must understand that the SAFMR of $1,210 is the maximum amount the voucher will cover for a two-bedroom unit. They should factor in utility allowances and consider the local market rent to determine whether participating in the Section 8 program will result in a financial surplus or gap.
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.