Location: Madison County, MT | Metro: Madison County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
A decision to invest in ZIP 59720 (Cameron, MT) for Section 8 properties hinges on several key factors:
1) Does the Fair Market Rent (FMR) of $1,440 clear debt service on a $801,329 property?
If your target is a single-family home, the FMR of $1,440 would need to cover the mortgage payment, property taxes, insurance, and maintenance costs. Given the median home price of $801,329, a typical mortgage payment could be around $3,500-$4,000 per month, depending on interest rates and loan terms. This amount does not include other expenses, which means that the FMR of $1,440 alone would not clear the debt service. No.
If you're considering multi-unit properties, the FMR might better align with the combined rental income from multiple units. However, the individual unit price would still need to be assessed against the total property cost. The answer here depends on the specific property and its financing structure. It depends.
2) Is the market rent above, at, or below the FMR?
The market rent data for ZIP 59720 is currently unavailable (N/A). Without this information, it's impossible to compare the market rent to the FMR. It depends.
3) Are 12.0% renters and the days on the market (DOM) sufficient to meet demand?
In ZIP 59720, 12.0% of residents are renters. This percentage suggests a relatively low demand for rental properties compared to owner-occupied homes. Additionally, the DOM data is also unavailable (N/A), which makes it difficult to gauge how quickly rental units turn over. With limited rental demand, securing tenants solely based on Section 8 vouchers may prove challenging. No.
Based on the available data, ZIP 59720 presents challenges for Section 8 investments due to high property costs relative to the FMR and a low percentage of renters. Market rent and DOM data are crucial for a complete analysis but are currently missing. Landlords should carefully consider these factors before making investment decisions.
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.