Location: Teton County, MT | Metro: Great Falls, MT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,970 | $478,492 | 0.41% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 59468, located in Teton County, Montana, reveals key insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area is set at $1040 for fiscal year 2024, while the market rent based on Census ACS data stands at $700. This discrepancy indicates that landlords may struggle to justify higher rents to tenants, given the actual market conditions.
Regarding the affordability of acquisitions, the median home value in ZIP 59468 is $489,654. However, the lack of available data on days on market (DOM) and the percentage of homes needing price cuts suggests that there might be limited recent activity in the housing market, which could indicate stability but also a less liquid market for potential sales or purchases.
To assess tenant demand, we look at the demographics. With a population of 858 and only 8.8% of residents being renters, it's evident that the demand for rental properties is relatively low. This could pose challenges for landlords looking to maintain occupancy rates and ensure steady cash flow.
Based on these findings, investing in ZIP 59468 appears to be challenging. The market rent is significantly lower than the FMR, indicating difficulty in pricing properties competitively. Additionally, the limited number of renters in the area suggests that there is not enough tenant demand to support a robust rental market. These factors combined make the zip code less attractive for landlords and small-portfolio investors seeking profitable opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.