Location: Toole County, MT | Metro: Liberty County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
U.S. Census Bureau data (2024)
The ZIP code 59461 represents a unique market for landlords and small-portfolio investors, particularly when considering Section 8 tenants. With 27.3% of the population renting, this area leans towards being a renter-heavy ZIP, indicating a substantial demand for rental properties. However, the lack of specific median household income data presents a challenge in fully assessing the economic landscape.
The absence of precise income figures makes it difficult to determine exactly how much of the local income goes towards paying rent. Nevertheless, we can still compare the market rent to the Fair Market Rent (FMR) set by HUD for the upcoming fiscal year. The FMR for the metro area is established at $1,290 per month for FY 2026. This figure serves as a benchmark for rental pricing in areas where voucher holders can find housing.
Given that the median household income is not available, landlords must rely on other indicators to gauge the financial stability of potential tenants. In ZIP 59461, landlords should anticipate a tenant pool that heavily relies on Section 8 vouchers due to the significant percentage of renters. These tenants will be looking for units priced around the FMR, which is a reasonable expectation given the government's aim to ensure affordable housing options.
To conclude, landlords in ZIP 59461 should prepare for a market characterized by a high demand for rental units, especially those that accept Section 8 vouchers. The typical tenant will be financially reliant on government assistance for housing, seeking units that align closely with the $1,290 FMR. This insight underscores the importance of maintaining properties that meet the standards required for Section 8 participation, ensuring they remain attractive to this specific tenant demographic.
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.