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 Fair Market Rent (FMR) for ZIP code 59626 in Unknown, MT, is set at $1,650 for metro fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program. It's important to note that this is not the amount tenants will pay in rent; rather, it's the maximum amount the housing authority will reimburse landlords for rent.
In ZIP 59626, the local market rent is currently listed as N/A. However, the FMR serves as a benchmark to ensure that rents are reasonable and competitive with the local market. The N/A% of renters in the area indicates the share of residents who might be eligible for Section 8 assistance, suggesting a potential demand for subsidized rentals.
The median home value in ZIP 59626 is also listed as N/A, which can help you understand the typical costs associated with acquiring property in this area. This information is crucial when calculating your investment's return on investment (ROI).
To participate in the Section 8 program, you must ensure your rental property meets certain criteria. One critical step is verifying that your property passes the Housing Quality Standards (HQS) inspection. This ensures that the unit is safe, decent, and sanitary for tenants. It's a mandatory requirement and a clear thing to check off before proceeding with your first Section 8 rental.
While the FMR is set at $1,650, the actual rent paid by tenants will typically be lower, with the tenant responsible for paying a portion of the rent based on their income. Landlords receive the difference between the tenant's contribution and the FMR, up to the limit of $1,650. This structure helps maintain affordability for low-income tenants while providing landlords with a stable source of income.
Given the limited data available, such as the N/A values for local market rent and median home value, it's advisable to conduct further research into local real estate trends and speak with local housing authorities for more detailed guidance.
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.