Location: Chouteau County, MT | Metro: Chouteau County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,730 |
| 4 Bedrooms | $2,950 |
| 5 Bedrooms | $3,422 |
| 6 Bedrooms | $3,833 |
| 7 Bedrooms | $4,140 |
| 8 Bedrooms | $4,347 |
U.S. Census Bureau data (2024)
The ZIP code 59450 is situated in a suburban neighborhood characterized by a modest population of 503 residents. The area reflects a typical suburban setting where 34.0% of the inhabitants are renters, indicating a mix of homeowners and tenants. With a median household income of $70,250, the community appears financially stable, supporting both rental and ownership lifestyles.
The median home value in ZIP 59450 stands at $391,648, suggesting a moderate cost of living environment. This figure provides insight into the local property market's valuation, which is an essential consideration for real estate investors. When it comes to rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,960. However, the actual market rent, as per the Census ACS data, is lower at $1,323. This discrepancy highlights a potential opportunity for landlords who can offer quality rentals at a price point that aligns with the local market while still benefiting from the higher voucher rates.
The economic profile of ZIP 59450 indicates that it could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means that properties receiving Section 8 vouchers can command rents above the average market rate, providing a steady income stream with minimal management effort. On the other hand, for hands-on investors looking to add value, the lower market rent presents an opportunity to improve properties and increase their rental value closer to the FMR, thereby maximizing returns. The relatively low population density and the balance between renters and homeowners suggest that there is room for growth in the rental market without oversaturating it, making ZIP 59450 a viable investment target for those familiar with Section 8 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.