Location: Powder River County, MT | Metro: Carter County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 59316 are renters, indicating a predominantly owner-occupied area. This statistic underscores the limited demand for rental properties in the region. $1,090 is the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which sets the benchmark for Section 8 housing vouchers. However, the lack of available data on market rent and median home values suggests that there might be fewer transactions or less active real estate markets in this area. $48,750 is the median income for the ZIP code, providing insight into the financial capabilities of potential tenants. Given the low renter share and the absence of detailed market data, landlords and small-portfolio investors should carefully consider the potential occupancy rates and the competitiveness of their rental offerings against the FMR. The Section 8 program could offer a stable tenant pool, but the low FMR compared to likely market rents means that landlords must balance between affordability and profitability. With no data on days on market (DOM) or the percentage of homes that have had their prices cut, it's difficult to assess the broader market dynamics, but the low renter share implies that finding tenants might be challenging without leveraging programs like Section 8.
A key consideration for investors is the alignment of their rental property pricing with the $1,090 FMR, especially if they aim to attract Section 8 tenants. The median income figure of $48,750 also plays a critical role in understanding the earning power of potential tenants, which can influence their ability to afford higher rents outside of subsidized programs. Despite the challenges posed by the limited market data, the presence of the Section 8 program provides a reliable source of tenants, ensuring steady cash flow. However, the decision to participate in Section 8 should be made with an awareness of the lower rent ceiling and the administrative requirements associated with the program.
The verdict for ZIP code 59316 regarding Section 8 participation is that it offers a viable option for maintaining occupancy in an area with a low renter share, but investors must be prepared to accept the limitations imposed by the program's rent caps and administrative processes.
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.