Section 8 Fair Market Rent (FMR) for ZIP 59472 - 2027

Name: Section 8 Fair Market Rent Data for 59472
Creator: U.S. Department of Housing and Urban Development (HUD)
License: https://creativecommons.org/publicdomain/zero/1.0/

Location: Great Falls, MT | Metro: Great Falls, MT MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,020
1 Bedroom	$1,020
2 Bedrooms	$1,340
3 Bedrooms	$1,860
4 Bedrooms	$2,040
5 Bedrooms	$2,366
6 Bedrooms	$2,650
7 Bedrooms	$2,862
8 Bedrooms	$3,005

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

507

Median Household Income

$68,036

Housing Units

251

Renter Percentage

8.8%

Occupancy Rate

86.5%

Renter Occupied

The Fair Market Rent (FMR) for ZIP code 59472 in fiscal year 2024 is set at $980. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount that can be charged for rent under the Section 8 program. It's important to note that this is not the amount you will charge your tenants as rent; rather, it's the benchmark HUD uses to ensure rents are reasonable.

While the local median rent for ZIP 59472 is currently N/A, the 8.8% renter share indicates that a significant portion of the population relies on rental assistance programs such as Section 8. This suggests a steady demand for affordable housing units that meet Section 8 requirements.

The acquisition cost for a property in this area is approximately $287,578. This means that if you're looking to purchase a property specifically for Section 8 tenants, this is the average price point you should expect. However, the actual value and condition of the property will play a crucial role in determining its suitability for the program.

To understand the potential profitability of a Section 8 rental in ZIP 59472, consider the following:

Rental Income: The $980 payment standard is the cap for what HUD will reimburse landlords. If your property’s market rent exceeds this amount, you will need to cover the difference.
Maintenance Standards: Properties must meet certain quality standards known as “Housing Quality Standards” (HQS), which include safety and health criteria.
Tenant Screening: Tenants must qualify for the program based on income and other factors, so you won't have control over who moves in.

Before committing to a Section 8 rental, verify that the property meets all HQS requirements. This is essential because failing to comply can result in reduced payments or even termination of the contract with HUD.

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.