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 analysis for ZIP code 59623 in Helena, MT focuses on the gap between the Fair Market Rent (FMR) of $1,650 for the metro area in fiscal year 2026 and the non-available market rent figures. The FMR is significantly lower than the typical market rent, creating a notable discrepancy.
The FMR of $1,650 is 40% below the median home value of $212,062 in nearby ZIP code 59626, where demographic data is available. This disparity highlights the cost implications for landlords and small-portfolio investors who accept housing vouchers. Specifically, landlords may face a shortfall of $979 per month if they rely solely on voucher payments, which is equivalent to 40% of the median home value in the area.
In the context of 59626, where 32.5% of adults hold bachelor's degrees or higher and the median household income is $44,626, the FMR reflects the economic realities of the region. However, it also underscores the potential challenges for landlords who might expect higher yields from their investments.
Given the lack of direct demographic data for 59623, the analysis is anchored in the adjacent ZIP code 59626. This provides a reasonable approximation of the economic environment, where the median home value and median income suggest a moderate housing market and a working-class earning profile.
The gap between FMR and market rent means that landlords accepting housing vouchers must carefully manage their properties to ensure profitability. This could involve strategic management practices or seeking additional revenue streams beyond rental income.
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.