Location: Phillips County, MT | Metro: Blaine County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 59524 presents a unique set of conditions that both landlords and small-portfolio investors should consider when evaluating their strategies for the coming years. The median home value is currently not available, which suggests limited data points for making precise comparisons. However, the percentage of listings that have been reduced and the median days on market (DOM) are also not specified, indicating potential stability or a lack of significant activity in the residential sales market.
On the rental side, the forward market rate (FMR) for ZIP 59524 is projected at $1,040 for fiscal year 2026, while the current market rate based on Census ACS data stands at $527. This substantial gap between the FMR and the current market rate signals a strong potential for upward pressure on rents in the near future. As the rental market adjusts to align with the projected FMR, landlords can expect to see increased demand for properties that are priced closer to the FMR level, especially if they offer quality living conditions and amenities.
For long-term hold investors, the setup implied by the data suggests a cautious approach. While the potential for rental income growth exists due to the disparity between the FMR and current rates, the lack of definitive data on home values and listing reductions means there's less clarity around the appreciation thesis. Investors should focus on areas where property improvements can justify higher rents and where there is a demonstrable trend towards increasing rental demand.
In summary, the current state of the real estate market in ZIP 59524 indicates a mixed picture with limited information on home value trends but a clear opportunity for rental income growth. Landlords and investors should leverage the expected rise in rental rates while being mindful of the uncertain trajectory of property values. Strategic investments in property maintenance and upgrades can position assets to capitalize on future market conditions.
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.