Location: Chouteau County, MT | Metro: Chouteau County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
U.S. Census Bureau data (2024)
The ZIP code 59460 is situated in a rural setting, primarily encompassing small towns and communities. With a total population of just 178 residents, it is clear that this area is sparsely populated. The rental market here is quite limited, accounting for only 2.8% of the housing stock, which suggests that homeownership is the predominant form of residence. The median household income in this ZIP code stands at $51,551, indicating a modest economic base.
Given the low percentage of renters and the absence of specific data on median home values and market rents, it becomes evident that the real estate landscape in 59460 is unique and requires careful consideration. The Fair Market Rent (FMR) for the metro area, applicable for fiscal year 2026, is set at $1,290. This figure represents the maximum amount that a Section 8 tenant can pay towards their rent, based on federal guidelines. However, the lack of data on local market rents makes it challenging to gauge how competitive this rate would be in the actual rental market.
Considering these factors, ZIP 59460 might not be an ideal location for a hands-off Section 8 voucher operator due to the limited rental market and the potential difficulty in finding suitable properties for tenants. Instead, a hands-on value-add buyer could potentially find opportunities to improve and manage properties in this area, catering to the needs of both Section 8 tenants and other residents. Such an approach would require a thorough understanding of the local economy and a willingness to engage actively in property management and improvement efforts.
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.