Location: Toole County, MT | Metro: Toole County, MT
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 | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,590 | $196,043 | 0.81% | C |
| 4BR | $1,720 | $229,926 | 0.75% | D |
U.S. Census Bureau data (2024)
Investing in Section 8 properties in ZIP code 59474 presents several challenges that landlords must be prepared to face. Tenant turnover is a significant concern, as the market rent stands at $892 compared to the Federal Market Rent (FMR) of $1,190 for fiscal year 2026 in the metropolitan area. This discrepancy suggests that tenants might seek higher-quality housing options outside of Section 8, leading to frequent turnover.
Vacancy exposure is another critical risk factor. The average number of days on the market (DOM) is not available, which makes it difficult to predict how long it will take to fill vacancies. Given the typical home value of $177,449 and a median income of $57,846, there's also a risk of deferred maintenance. Landlords should budget for potential repairs and upgrades to keep homes in compliance with Section 8 standards, as lower incomes may limit the ability of residents to cover such costs.
Despite these risks, the high renter share of 36.9% in ZIP 59474 indicates strong demand for rental properties, including those eligible for Section 8 vouchers. High renter density often translates into a larger pool of voucher holders seeking affordable housing, potentially stabilizing occupancy rates.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.