Location: Judith Basin County, MT | Metro: Fergus County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,220 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
U.S. Census Bureau data (2024)
The ZIP code 59418 presents an interesting scenario for both renters and landlords alike. The market rate for rent stands at $1,102 according to the Census ACS data, yet the median income for the area is not available, which suggests potential challenges in assessing the overall financial health and earning capacity of households in this region.
Comparatively, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,600. This figure represents the standard payment amount for housing vouchers, indicating that the government deems rents up to $1,600 as reasonable for the area. However, the actual market rate is significantly lower at $1,102, suggesting that the ZIP code may not fully align with the broader metro area's economic conditions.
With 67.4% of the population being renters and a total population of 142, the demand for rental properties is high relative to the number of units potentially available. This creates a competitive environment for landlords, as they must attract tenants from a limited pool. The affordability gap, defined by the disparity between the actual market rate and the higher FMR, means that landlords could face difficulties in renting out their properties if they price above the market rate.
Given these circumstances, landlords in ZIP 59418 should consider a dual strategy when deciding between accepting voucher payments or seeking cash-paying tenants. While the FMR of $1,600 offers a higher potential income per unit, the actual market rate of $1,102 indicates that many households might struggle to meet the higher payment standard without assistance. Thus, landlords who wish to maximize occupancy and stability might lean towards accepting vouchers, given the significant portion of renters who likely rely on such support.
The takeaway for landlords is to balance the desire for higher rental income with the reality of tenant affordability. Accepting vouchers could ensure steady occupancy and avoid prolonged vacancies, whereas focusing solely on cash-paying tenants might lead to underutilized properties. Landlords should also be prepared to adapt their pricing and acceptance policies based on the local rental market dynamics and the availability of government assistance 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.