Location: Lewis and Clark County, MT | Metro: Lewis and Clark County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The rent math in ZIP 59633, located within the Lewis and Clark County, MT HUD Metro FMR Area, does not work due to lack of market rent data. The Fair Market Rent (FMR) for the area is set at $1,510 for fiscal year 2026, but without comparative market rent figures, it's impossible to assess whether this aligns with what tenants are willing to pay.
Acquisition in this ZIP code is moderately affordable, with a median home value of $505,811. However, the absence of days on market (DOM) and percentage of homes that require price cuts before selling makes it challenging to gauge the true affordability of acquiring properties here. Landlords and investors should seek additional local real estate market insights to make informed decisions.
Tenant demand in ZIP 59633 is relatively low. With a total population of 272, only 28.5% of residents are renters. This translates to approximately 77 potential rental tenants. Given the small number of potential renters, competition among landlords could be fierce, leading to lower rents and longer vacancy periods.
Verdict: In ZIP 59633, the lack of detailed market rent data hinders the ability to determine if the rent math works. Acquisition appears moderately priced, but the incomplete DOM and price-cut data mean that the true cost and ease of acquiring properties remain uncertain. Tenant demand is limited, which could result in reduced rental income and extended vacancy times. For landlords and small-portfolio investors, this area presents challenges that must be carefully considered against the available opportunities.
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.