Location: Fallon County, MT | Metro: Carter County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,290 |
| 5 Bedrooms | $2,656 |
| 6 Bedrooms | $2,975 |
| 7 Bedrooms | $3,213 |
| 8 Bedrooms | $3,374 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 59344, located in Fallon County, MT, reveals several key points for potential landlords and small-portfolio investors.
Firstly, the rent math does not work favorably. The Fair Market Rent (FMR) for the area, set at $1,390 for the fiscal year 2026, significantly exceeds the current market rent of $833 as reported by the Census ACS. This discrepancy suggests that landlords may struggle to find tenants willing to pay the higher FMR, leading to potential vacancies and reduced income.
Secondly, the acquisition cost is relatively low, with a median home value of $210,962. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates that the local real estate market may be less liquid and competitive. This could mean slower sales when it comes time to divest properties, but also potentially fewer homes available for purchase, keeping acquisition costs stable.
Lastly, there is a modest tenant demand. With a population of 406, and 19.6% of residents being renters, the pool of potential tenants is limited. This means that competition among landlords for rental units is likely high, and attracting and retaining tenants could be challenging given the small number of renters relative to the total population.
In conclusion, ZIP 59344 presents a mixed outlook for investment. While the low median home value makes property acquisition affordable, the mismatch between FMR and actual market rents, combined with the limited tenant demand, suggests that generating consistent rental income will be difficult. Landlords should carefully consider these factors before investing in the area.
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.