Location: Park County, MT | Metro: Bozeman, MT MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,340 |
| 1 Bedroom | $1,480 |
| 2 Bedrooms | $1,940 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,480 | $505,970 | 0.29% | F |
| 2BR | $1,940 | $644,531 | 0.3% | F |
| 3BR | $2,700 | $855,064 | 0.32% | F |
| 4BR | $3,190 | $1,062,295 | 0.3% | F |
| 5BR | $3,700 | $1,214,904 | 0.3% | F |
U.S. Census Bureau data (2024)
To integrate ZIP 59715, located in Bozeman, MT, and part of the Park County, MT metro area, into a Section 8 portfolio strategy, one must consider several key factors that define its potential role: cash-flow anchor, appreciation play, or diversifier. Given the data at hand, Bozeman stands out most as an appreciation play.
The Fair Market Rent (FMR) for ZIP 59715 in fiscal year 2026 is set at $1,920, while the current market rent is slightly higher at $2,024. This indicates a modest spread, suggesting that rental properties in this area will maintain steady demand without significant cash flow risks. However, the primary driver for categorizing Bozeman as an appreciation play lies in its market dynamics and property values.
The median home value in ZIP 59715 is $865,804, which is considerably high. This reflects a robust housing market where property appreciation is likely. The low price-cut share of 0.2% and a days on market (DOM) of 55 further support this view. These metrics indicate a strong seller's market where homes sell quickly without needing to be discounted, signaling a positive trend in property values.
While Bozeman offers a 44.2% renter share, indicating a diverse tenant base, and has a median income of $88,407, these factors do not outweigh the potential for capital appreciation. The high median home value combined with the quick sales and minimal price adjustments suggest that over time, property values in this area will rise, making it an attractive investment for those looking to build long-term wealth through real estate.
In conclusion, ZIP 59715 should be viewed primarily as an appreciation play within a Section 8 portfolio strategy. Landlords and small-portfolio investors can expect steady rental income with a slight premium over the FMR, coupled with the potential for significant property value growth, making it a valuable addition to any investment portfolio focused on long-term capital gains.
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.