Location: Valley County, MT | Metro: Phillips County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
U.S. Census Bureau data (2024)
The ZIP code 59261 stands out in several ways. With only 525 residents, it has a small population base. However, the rental rate at 23.5% indicates that nearly one in four residents are tenants, suggesting a notable demand for rental properties. The median income of $53,158 is relatively modest compared to the median home value of $165,456, which points to a scenario where homeownership is less affordable.
In terms of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 59261 is set at $1,290 for fiscal year 2026, reflecting the cost of rent in the metro area. This figure contrasts sharply with the actual market rent of $537, based on Census ACS data. Landlords accepting Section 8 vouchers can expect to receive significantly higher rents than the current market average, making this ZIP code particularly attractive for those willing to participate in the program.
The data signature for ZIP 59261 reads as stable. Despite the small population, there is a consistent demand for rental properties, and the disparity between median income and home values suggests a steady state where rental markets are likely to remain robust. The high FMR compared to the actual market rent provides a strong incentive for landlords to accept Section 8 vouchers, ensuring a reliable source of income without the risks associated with transitional markets.
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.