Location: Toole County, MT | Metro: Liberty County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 59545, which is set at $1,170 for the metro area fiscal year 2026, represents the maximum amount that a landlord can receive through the Section 8 program for a unit in this area. This is not the rent you will charge your tenant directly; it's the benchmark used by the Housing Choice Voucher program to determine the subsidy level.
To put this into perspective, the FMR does not reflect the typical rent paid by renters in the area. The local average rent and the percentage of renters in ZIP 59545 who might use Section 8 vouchers are currently unavailable. However, the 0.0% renter share suggests there is little to no existing demand for Section 8 vouchers among the current renters in the area. This could mean that if you decide to participate in the Section 8 program, you might face a smaller pool of potential tenants compared to areas with higher voucher usage rates.
Regarding the acquisition cost of a property in ZIP 59545, there is no available data to provide a specific figure. This makes it difficult to assess how the FMR compares to the overall value of the property. Landlords and small-portfolio investors should research the typical property values in the area to understand the investment they are making relative to the income they will receive from the Section 8 program.
A crucial step before committing to a Section 8 rental is verifying the local housing authority's administrative requirements and procedures. These can vary significantly by location and impact the management of your property. It’s essential to know exactly what is expected of you as a landlord and whether you can meet those obligations effectively.
In summary, while the FMR provides a clear guideline for the subsidy amount you can expect, the lack of local rent averages and acquisition costs means you must do additional research to make an informed decision. The low demand for Section 8 vouchers in the area suggests you should prepare for a potentially smaller pool of tenants. Ensure you understand the local housing authority's rules to manage your rental successfully.
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.