Location: Great Falls, MT | Metro: Great Falls, MT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
To classify ZIP code 59406 in Montana, we need to look at the available data points for yield and stability. The Fair Market Rent (FMR) for the area is set at $980 per month for fiscal year 2024. However, the market rent and home values are not provided, which means we cannot directly compare FMR against these metrics to assess yield. Typically, if the FMR is higher than market rent, it can indicate a higher potential yield for rental properties.
Moving onto stability, the percentage of renters, days on market (DOM), and median household income are all listed as 'N/A'. Without these figures, it's challenging to gauge the financial stability and demand for rental properties in this area. Days on market can give insight into how quickly properties are rented, while median income can suggest the ability of residents to pay rent consistently.
The lack of specific market and home value data prevents us from categorizing 59406 definitively as either a high-yield/low-stability flip-style market or a steady-cashflow zone. With only the FMR figure of $980 available, we can infer that this might be a relatively affordable area for tenants. This could attract a mix of low-income families and individuals who rely on housing assistance programs, which would be typical for a Section 8-focused analysis.
To make a more informed classification, we would need additional data such as the percentage of renters in the area, average days on market for rental listings, and median household income. These details would help us understand the local rental market dynamics and the financial health of the residents.
In conclusion, based solely on the FMR of $980, ZIP 59406 appears to be an affordable rental market suitable for tenants who may require housing assistance. However, without further data on market rents, home values, and other indicators of stability, we cannot fully determine whether it offers high yields with low stability or provides steady cash flows. Additional research is necessary to provide a precise classification.
Data Sources: FMR data from HUD (2027).
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.