Location: Valley County, MT | Metro: Valley County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 59273 presents an interesting scenario for both renters and landlords. Given the median income is not available, it's challenging to assess the overall financial health of households in this area. However, focusing on the rental market, the market rate is also listed as N/A, which suggests a lack of comprehensive data on typical rental costs.
In comparison to the Federal Market Rent (FMR) standard of $1,050 for metro areas in fiscal year 2026, the situation becomes clearer. If we assume the market rate is around or below this figure, then households receiving vouchers could find the ZIP affordable. This assumption is based on the fact that voucher payments are designed to cover a significant portion of a household's rent, typically up to 30% of their adjusted income.
With only 20.0% of the population being renters and a total population of 15, the number of potential tenants is quite limited. This means landlords face a smaller pool of tenants, which could lead to increased competition among property owners. The scarcity of renters might push some landlords to accept voucher tenants over those paying in cash, especially if the voucher amount meets the landlord's expectations.
The affordability gap, where the market rate exceeds the FMR standard, can be a deciding factor for landlords. Accepting voucher tenants at $1,050 could ensure steady, government-backed rental income, though it might mean lower monthly payments compared to market rates. On the other hand, relying on cash-paying tenants could result in higher rent collection but also poses risks due to the smaller tenant pool and potential difficulties in finding suitable cash-paying tenants.
Takeaway: For landlords in ZIP 59273, accepting voucher tenants can provide a reliable source of income given the limited number of renters. While the income may not be as high as market rates, the stability offered by government-backed payments makes it a viable strategy. Landlords should weigh the benefits of guaranteed income against the desire for potentially higher cash rents, considering the competitive landscape and the actual market rates when they become available.
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.