Location: Broadwater County, MT | Metro: Broadwater County, MT HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,290 |
| 4 Bedrooms | $2,580 |
| 5 Bedrooms | $2,993 |
| 6 Bedrooms | $3,352 |
| 7 Bedrooms | $3,620 |
| 8 Bedrooms | $3,801 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 59647 presents a unique set of challenges and opportunities for both landlords and small-portfolio investors. Given the lack of specific data on median income and market rate, we must rely on the provided Fair Market Rent (FMR) figure to draw insights.
The FMR for ZIP 59647 is set at $1,740 per month for fiscal year 2026. This figure represents the maximum amount that a Section 8 voucher will cover for rent. However, without concrete data on the actual median income and market rate of the area, it is difficult to provide a precise analysis of affordability. What we do know is that the rental market is relatively small, with only 15.4% of the 358 residents being renters.
This low percentage of renters suggests that there might be less competition among landlords for tenants, allowing those who own properties to potentially charge closer to the market rate without fear of losing tenants to other landlords. Yet, the reliance on voucher payments indicates that many households may struggle to afford the market rate on their own, highlighting a significant affordability gap.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear. While the number of renters is limited, accepting vouchers ensures a steady stream of income, albeit capped at $1,740 per month. On the other hand, targeting cash-paying tenants could yield higher rents but requires a thorough understanding of the local economy and the ability to attract and retain tenants who have the means to pay above the voucher rate. In an area where the median income is unknown, landlords should prepare for a mix of both strategies, balancing the security of voucher-backed rent with the potential for higher revenue from cash-paying tenants.
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.