Location: Great Falls, MT | Metro: Great Falls, MT MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
U.S. Census Bureau data (2024)
The ZIP code 59477 stands out in its county with a relatively small population of 334 residents, where 21.5% of the households rent their homes. The median income in this area is $42,292, indicating a modest economic profile. Despite the small number of residents, the median home value is quite high at $360,091, which suggests a significant investment in property values within the ZIP.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 59477 in fiscal year 2024 is set at $980. This figure is critical for landlords and small-portfolio investors as it represents the maximum rental amount that can be charged for a Section 8 unit. However, the lack of available market rent data means that the FMR serves as the primary benchmark for assessing the financial viability of accepting Section 8 tenants. Given the high median home value, it's worth noting that the rental market might be less active, making Section 8 vouchers an important tool for securing tenants.
Based on the data signature of ZIP 59477, the environment appears stable rather than transitional. The established median home value and the defined FMR provide a solid framework for investment decisions. Landlords should consider these factors carefully when evaluating the potential returns on properties in this ZIP code, ensuring they align with their long-term investment strategies.
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.