Location: Wheatland County, MT | Metro: Fergus County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 59453 reveals several potential challenges for landlords and small-portfolio investors considering Section 8 properties. Tenant turnover is a significant concern, with the market rent at $654 falling far below the Fair Market Rent (FMR) of $1,270 for the metro area in fiscal year 2026. This disparity suggests that tenants may seek higher-rent homes outside the Section 8 program, leading to frequent vacancies and instability.
Vacancy exposure is another critical issue. The days on market (DOM) data is currently unavailable, which makes it difficult to predict how long properties might remain vacant. However, the lower market rent compared to FMR indicates a higher likelihood of extended vacancy periods, especially if the local economy does not support the current rental rates.
Deferred maintenance exposure is also noteworthy. With a typical home value of $319,577 and a median income of $58,500, many homeowners might struggle to keep up with necessary repairs and renovations. This can translate into higher maintenance costs for landlords who take over these properties, particularly when dealing with the budget constraints often associated with Section 8 housing.
Despite these risks, there are mitigating factors that make ZIP 59453 an attractive market. The renter share stands at 16.3%, which is relatively high. High renter density generally translates to increased demand for rental properties, including those that accept Section 8 vouchers. This robust demand helps to offset some of the risks associated with tenant turnover and vacancy exposure.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 59453 is moderate. While there are significant challenges related to tenant stability and maintenance costs, the high renter density provides a solid foundation for demand and occupancy.
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.