Location: Phillips County, MT | Metro: Phillips County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 59537, set at $980 for the metro area fiscal year 2026, is the payment standard used by the Section 8 program. This means that if you choose to participate in Section 8 as a landlord in this ZIP code, the maximum monthly rent you can charge under the program will be $980. It's important to note that this figure does not represent the actual rent your tenant will pay; it's the limit on the subsidy provided by the government.
In ZIP 59537, the local market rent is currently unavailable, which makes the FMR of $980 the primary reference point for setting your rental price. However, since there is no local market data available, you cannot directly compare the FMR to local rents. Instead, you should consider the FMR as an indicator of the rental value that the government deems appropriate for the area.
The 0.0% renter share figure suggests that there is no additional rent required from the tenant beyond the government subsidy. In other words, the entire rent amount would come from the housing assistance payment made by the government. This could indicate low demand from tenants who can afford to pay extra, meaning that the majority of renters in this area might rely solely on the Section 8 subsidy. However, without specific local market data, it's difficult to make a definitive statement about the demand for rental properties.
Regarding the acquisition cost of properties in this ZIP code, there is no data available to provide a clear comparison. Therefore, you'll need to research the local real estate market independently to determine if the cost of acquiring a property aligns with your investment goals and the potential income from a Section 8 rental.
Before deciding to enter into a Section 8 rental agreement in ZIP 59537, verify the condition of the property against the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD). These standards ensure that the property meets basic safety and habitability requirements, which is necessary for approval in the Section 8 program.
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.