Location: Teton County, MT | Metro: Great Falls, MT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,990 | $517,681 | 0.38% | F |
U.S. Census Bureau data (2024)
A decision tree for evaluating ZIP code 59443 for Section 8 investment begins with understanding the Fair Market Rent (FMR) and its relationship to property costs and rental demand.
Step 1: The FMR for ZIP 59443 in fiscal year 2024 is set at $990. This figure represents the maximum monthly rental payment that a Section 8 tenant can receive. To determine if this amount clears the debt service on a property valued at $490,097, you must calculate the expected monthly mortgage payment. Assuming a typical 30-year fixed-rate mortgage at an average interest rate, the monthly debt service would likely be higher than $990, making it difficult for the FMR alone to cover the mortgage without additional income sources or subsidies. Therefore, the answer to whether FMR clears debt service is No.
Step 2: Market rent data for ZIP 59443 is currently unavailable. Without this information, it's impossible to compare market rents against the FMR to gauge the financial viability of renting solely to Section 8 tenants. The lack of market rent data means that the comparison between market rent and FMR is N/A. This uncertainty is a significant risk factor for potential investors.
Step 3: Rental demand in ZIP 59443 shows that 11.1% of residents are renters, and the days on market (DOM) for rental listings is not available. With only 11.1% of the population renting, there is limited demand for rental properties. Additionally, the absence of DOM data makes it challenging to assess how quickly properties are leased. Given these factors, the answer to whether there is sufficient demand is It Depends. Landlords must consider the local economic conditions, job market, and other demographic factors to better understand the potential for rental demand.
In summary, based on the provided data, the FMR does not sufficiently cover the debt service on a $490,097 property. Market rent information is unavailable, adding another layer of uncertainty. Lastly, while 11.1% of the population are renters, the lack of DOM data complicates the assessment of demand. For a landlord considering investing in ZIP 59443 for Section 8 properties, further investigation into local market dynamics and additional financial support options is necessary before making a decision.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.