Location: Lewis and Clark County, MT | Metro: Lewis and Clark County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,320 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
The ZIP code 59620, located in Montana, presents a unique challenge for landlords and small-portfolio investors due to limited available demographic data. The population, percentage of renters, and median household income are all listed as 'N/A', indicating a lack of comprehensive statistics. However, we can still draw some insights based on the information that is accessible.
The Fair Market Rent (FMR) for the metro area, which includes ZIP 59620, is set at $1,650 for fiscal year 2026. This figure serves as a benchmark for understanding the rental market dynamics. Without specific local income data, it's difficult to calculate the exact percentage of income that goes towards rent. Nonetheless, landlords can infer that the demand for Section 8 vouchers will likely be high, given the typical trend in rural areas where rental options are fewer and incomes tend to be lower compared to urban centers.
While the exact percentage of residents who rely on rental housing cannot be determined, it is reasonable to assume that this ZIP code could be renter-heavy. In such areas, there is often a higher concentration of individuals and families who qualify for assistance programs like Section 8, due to lower overall income levels and fewer opportunities for homeownership. The scarcity of detailed data suggests that landlords should prepare for a tenant pool that heavily relies on voucher programs to afford housing.
Given the FMR of $1,650, landlords should anticipate tenants whose total income aligns with or falls below the threshold required for eligibility in the Section 8 program. This means targeting those who can demonstrate financial need and qualify for subsidies that help cover their rent. Landlords in ZIP 59620 must be prepared to navigate the requirements of the Section 8 program, including regular inspections and rent subsidies, to attract and retain tenants in this area.
In conclusion, while precise figures are unavailable, the analysis suggests a potential environment where Section 8 vouchers play a significant role in the rental market. Landlords should expect a tenant base that includes many who depend on these subsidies to find affordable housing. Preparing for a high demand for affordable units and understanding the intricacies of the Section 8 program will be crucial for success in this ZIP code.
Data Sources: FMR data from HUD (2027).
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.