Section 8 Fair Market Rent (FMR) for ZIP 59345 - 2027
Location: Powder River County, MT | Metro: Custer County, MT
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,030 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$68,125
To determine if a landlord should invest in ZIP code 59345 for Section 8 properties, follow these steps:
- Step 1: Does the Fair Market Rent (FMR) of $1,410 cover the debt service on a property?
- If the answer is yes, proceed to Step 2.
- If the answer is no, do not purchase in this area as the rental income will not sufficiently cover your mortgage payments and other expenses.
- Step 2: Is the market rent above, at, or below the FMR of $1,410?
- If market rent is above the FMR, proceed to Step 3.
- If market rent is at the FMR, consider the competition and the quality of your property before making a decision. It depends on how you can differentiate your property to attract tenants.
- If market rent is below the FMR, reconsider purchasing in this area unless you are willing to accept lower-than-average rents for Section 8 tenants.
- Step 3: Are there sufficient renters and days on the market (DOM) to meet demand?
- If the 5.6% of renters and the DOM (days on the market) are low, indicating quick turnover, then the answer is yes. There is enough demand to support a Section 8 investment.
- If the DOM is high, meaning it takes longer to find tenants, then the answer is it depends. Consider the local vacancy rates and whether you can manage the property effectively to attract tenants.
Note that without specific information on property values, debt service costs, and exact market rent figures, some decisions will require further investigation. However, the FMR of $1,410 provides a benchmark for evaluating the financial viability of Section 8 investments in ZIP 59345.
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.