Location: Powder River County, MT | Metro: Powder River County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The ZIP code 59343 presents a unique challenge for both renters and landlords due to limited data on median income and market rates. However, we can still analyze the situation based on the available figures.
Affordability is a critical concern when considering the rental market in ZIP 59343. The Federal Market Rent (FMR) standard for the metro area in fiscal year 2026 is set at $1,030. This figure represents the maximum amount that a housing voucher recipient can be expected to pay towards their rent. Given the small population of 21 residents and the reported 0.0% of renters, it is evident that the majority of these individuals own their homes rather than renting.
The lack of median income data suggests that the area might have a diverse economic profile, making it difficult to generalize about the financial capabilities of potential renters. Nevertheless, the voucher payment standard of $1,030 provides a benchmark against which landlords must consider their rental pricing strategies.
The affordability gap in ZIP 59343 is significant, especially since there is no median income or market rate data to compare against the FMR. For landlords, this means that attracting cash-paying tenants could be challenging if the rent exceeds the voucher payment standard, particularly in an environment where homeownership seems to be the norm.
In such a scenario, landlords should weigh the benefits of accepting voucher payments versus relying on cash-paying tenants. Accepting vouchers ensures a steady stream of income but caps the potential rent at $1,030. On the other hand, seeking cash-paying tenants allows for higher rents but introduces uncertainty regarding the ability of residents to meet those costs given the limited data on local incomes.
Takeaway: Landlords in ZIP 59343 must carefully consider their tenant mix. Given the voucher payment standard and the unknown market rate, accepting vouchers may be a safer strategy to ensure occupancy and avoid vacancy. However, exploring opportunities to attract cash-paying tenants through competitive pricing and value-added services could also be a viable approach to maximize returns while addressing the affordability 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.