Location: Judith Basin County, MT | Metro: Judith Basin County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
U.S. Census Bureau data (2024)
To understand the economics of Section 8 in ZIP code 59469, it's essential to break down the components involved in rental assistance. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for FY 2026 is set at $1,160. This figure represents the maximum amount that the housing authority will pay on behalf of eligible tenants.
The SAFMR is determined based on local rental market conditions, ensuring that it reflects the true cost of renting in ZIP 59469. However, the local market rent data is currently unavailable, which makes it challenging to directly compare the SAFMR with actual market rates. Landlords should note that the SAFMR is subject to annual adjustments based on changes in the local rental market.
A Section 8 voucher holder is typically responsible for paying 30% of their adjusted income towards rent. This amount is known as the tenant portion. Additionally, there are utility allowances that vary depending on the location and the type of unit. For ZIP 59469, these allowances are not specified in the data provided, but they generally cover a portion of the tenant's utility expenses.
The reimbursement process works as follows: the housing authority pays the difference between the tenant's contribution and the SAFMR up to $1,160 per month for a two-bedroom unit. If the tenant's portion plus the utility allowance exceeds $1,160, the tenant must make up the difference. Conversely, if the total is less than $1,160, the landlord receives the full SAFMR amount.
To illustrate, assume a tenant's portion is $300 and the utility allowance is $100. In this case, the landlord would receive $760 from the housing authority ($1,160 - $300 - $100), making the total monthly rent collected $1,160. If the tenant's portion plus utilities is $400, the housing authority would still only pay up to $1,160, meaning the landlord collects the full $1,160.
In ZIP 59469, the typical reimbursement gap or surplus for a two-bedroom voucher can be calculated by subtracting the tenant's portion and utility allowance from the SAFMR. Given the lack of specific local market rent data, landlords should use the SAFMR as a benchmark to ensure their rental pricing aligns with the available financial support. This alignment helps in maintaining a steady stream of rental income while participating in the Section 8 program.
Note that the SAFMR of $1,160 applies specifically to this ZIP code, which means it is tailored to reflect the economic conditions unique to ZIP 59469. Landlords should also consider the administrative aspects of managing a Section 8 property, including the requirement to undergo an inspection and comply with housing quality standards.
In conclusion, for ZIP 59469, the SAFMR for a two-bedroom apartment is $1,160, and this figure serves as the maximum reimbursement a landlord can expect from the housing authority. The exact reimbursement gap or surplus depends on the tenant's portion and utility allowances, which together must not exceed the SAFMR limit.
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.