Location: Judith Basin County, MT | Metro: Fergus County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
U.S. Census Bureau data (2024)
The ZIP code 59462 has a population of 122 residents, with 10.6% being renters. The median household income in this area stands at $51,250. This indicates that the ZIP is primarily a homeowner-dominated area rather than a renter-heavy one, meaning that the demand for Section 8 vouchers might be relatively low compared to areas with higher percentages of renters.
To connect the income levels to the market rent, we need to establish the average rent in the area. However, the data provided does not specify the exact market rent. Despite this, we can compare the median income to the Fair Market Rent (FMR) which is set at $1,340 per month for the fiscal year 2026 in the metro area. Assuming the FMR is representative of the ZIP's market rent, we can calculate that typical rent would consume approximately 26% of the median household income. This is derived from dividing the FMR ($1,340) by the annual median income ($51,250), then multiplying by 12 months to get the monthly income ($4,270.83), and finally dividing the FMR by the monthly income.
In terms of tenant profiles, landlords in ZIP 59462 should expect tenants who are likely to rely on Section 8 housing vouchers due to the relatively high cost of rent compared to their income. These tenants will have a documented need for subsidized housing and will typically be screened through the local Housing Authority. Given the limited number of renters in the area, competition for rental units among those using vouchers could be fierce, leading to a stable but smaller pool of potential tenants.
The scarcity of vouchers in such an area might also mean that landlords have fewer applicants using Section 8, necessitating a focus on other forms of rental assistance programs or a willingness to accept tenants with higher incomes who do not require vouchers. Landlords should prepare for a mix of tenants, possibly including families with children, seniors, and individuals with disabilities, all of whom are eligible for Section 8 vouchers and are seeking affordable housing solutions.
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.