Location: Powder River County, MT | Metro: Custer County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $2,010 |
| 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)
ZIP code 59351, located within Powder River County, MT, presents a unique scenario when compared against typical ZIP codes within the same county. The Family Monthly Rent (FMR) for 59351 stands at $1,470 for fiscal year 2026, which is a key figure in determining the attractiveness of this area for Section 8 tenants.
While specific market rent and home value data are not available for 59351, the lack of these figures suggests that it may be less developed or have fewer rental properties compared to other areas within the county. This absence of data can also indicate a lower demand for rentals or a smaller number of homes listed on the market.
The renter share in 59351 is 2.3%, which is notably low. This percentage is indicative of a community where most residents likely own their homes rather than renting. However, the presence of a set FMR without corresponding market rent or home value data could suggest that 59351 is an area that is specifically designated or catered towards government-assisted housing programs such as Section 8.
To determine if 59351 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the context of the broader Powder River County, MT metro area. Given the established FMR and the relatively low renter share, it's reasonable to infer that 59351 is a value pocket within the metro. This inference is based on the idea that value pockets typically offer lower rents relative to surrounding areas, making them attractive for subsidized housing programs.
The high concentration of Section 8 eligibility combined with the absence of competitive market rents and home values suggests that 59351 could be an ideal location for landlords seeking to participate in government-assisted housing programs. However, it's important to note that the low renter share might imply limited demand from non-subsidized renters, making the participation in Section 8 almost essential for maintaining occupancy rates.
Landlords and small-portfolio investors should take note of the specific conditions in 59351. The area's reliance on government-assisted housing programs and its status as a value pocket within the metro could present both opportunities and challenges. Opportunities include a stable tenant base due to the Section 8 program, while challenges may involve navigating the regulations and requirements associated with such programs.
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.