Location: Toole County, MT | Metro: Toole County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The median income in ZIP code 59454 stands at $36,250, which provides a foundational understanding of the financial capacity of the typical household in this area. Given the absence of specific market rate data, it's imperative to focus on the Federal Market Rent (FMR) standard set at $1,380 for the metro area in fiscal year 2026. This figure represents the government's benchmark for determining fair rental payments under housing voucher programs.
To put this into context, let's consider the implications for both renters and landlords. The median income suggests that a significant portion of the population may struggle to afford market-rate rents without assistance. For instance, if we assume a conservative rule of thumb where rent should not exceed 30% of income, the maximum affordable rent for a household earning the median income would be approximately $906 per month. This is notably below the FMR of $1,380, indicating a substantial affordability gap for unassisted households.
With only 13.3% of the 123 residents identified as renters, the competition among landlords is likely to be relatively low. However, this also means that the pool of potential tenants who can pay market rates without relying on vouchers might be limited. Therefore, landlords must carefully consider their tenant acquisition strategy, weighing the benefits and drawbacks of accepting voucher payments versus seeking cash-paying tenants.
The takeaway for landlords considering whether to adopt a voucher-friendly approach or prioritize cash-paying tenants is clear: given the affordability gap and the modest number of renters, embracing voucher payments could provide a steady stream of reliable income. While voucher payments may initially seem lower due to the government-set FMR, they ensure consistent rent collection, reducing the risk of vacancies and delinquencies. Conversely, focusing on cash-paying tenants could lead to higher individual rents but also greater risk of vacancy in an area where many households cannot afford the cost without assistance.
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.