Section 8 Fair Market Rent (FMR) for ZIP 59634 - 2027

Location: Lewis and Clark County, MT | Metro: Jefferson County, MT HUD Metro FMR Area

Investment Score for ZIP 59634

Monthly Rent (2BR)

$1,610

Median Price (2BR)

$510,399

1% Rule

0.32%

Annual Yield

3.79%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,120
1 Bedroom	$1,230
2 Bedrooms	$1,610
3 Bedrooms	$2,190
4 Bedrooms	$2,270
5 Bedrooms	$2,633
6 Bedrooms	$2,949
7 Bedrooms	$3,185
8 Bedrooms	$3,344

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,610	$510,399	0.32%	F
3BR	$2,190	$612,264	0.36%	F
4BR	$2,270	$721,622	0.31%	F
5BR	$2,633	$853,535	0.31%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,521

Median Household Income

$129,891

Housing Units

2,067

Renter Percentage

6.1%

Occupancy Rate

95.5%

Renter Occupied

120

The ZIP code 59634, encompassing Clancy, Montana, offers a unique blend of rural charm and proximity to urban amenities, primarily due to its adjacency to Helena, the state capital. This area is characterized by its natural beauty and outdoor recreational opportunities, which attract a diverse mix of residents, including retirees and young professionals.

Fair Market Rent (FMR) for a two-bedroom apartment is set at $1,750 in fiscal year 2026. This figure represents the government's benchmark for affordable housing, indicating a high demand for rental properties that can support higher rents.
The average market rent for properties in Clancy, as per the Census American Community Survey, stands at $994. This suggests that there is significant room for price increases, aligning closer to the FMR, especially for well-maintained units.
The median home value in the area is $648,226. This reflects a strong property market, where investments in residential real estate could yield substantial returns, particularly if targeting the growing number of higher-income renters.
Renters make up only 6.1% of the local population. This low percentage indicates a primarily owner-occupied market, but also highlights the potential for growth in the rental sector as more people seek to live in Clancy without the burden of homeownership.
The median household income in Clancy is $129,891. This above-average income level supports the possibility of attracting tenants willing to pay premium rents for quality accommodations.
The days on market (DOM) for rental listings is not applicable (N/A). This could imply that rental properties are either scarce or are leased quickly, underscoring the need for more rental units to meet the demand.

The data points clearly indicate that Clancy, MT, presents a favorable environment for real estate investment, particularly in rentals. The discrepancy between the FMR and current market rents suggests a potential for increasing rental rates, while the high median income supports the feasibility of such increases. With a relatively low renter share and quick leasing times, there is a strong opportunity for landlords and small-portfolio investors to capitalize on the growing interest in the area by developing or upgrading rental properties to meet the standards demanded by the local market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.