Location: Madison County, MT | Metro: Beaverhead County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
U.S. Census Bureau data (2024)
The ZIP code 59732 stands out due to its relatively small population of just 195 residents, which makes it a unique micro-market. With 29.3% of these residents renting their homes, the rental sector plays a significant role in the local housing economy. Despite the limited data available on the median home value, the median income for this area is reported at $73,125, indicating a moderate level of economic stability among its inhabitants.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,350. This figure contrasts sharply with the current market rent, which is estimated at $775 based on Census ACS data. The discrepancy between the FMR and the actual market rent suggests that landlords accepting Section 8 vouchers could potentially see an increase in rental income compared to the local market rate.
The data signature for ZIP 59732 reads as stable, given the moderate median income and the reliance on rental properties. However, the limited data on median home values indicates some gaps in understanding the overall property market, which could imply transitional dynamics within the housing sector. For landlords and small-portfolio investors, the opportunity to leverage higher FMRs through Section 8 vouchers presents a promising avenue to maximize returns in this niche market.
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.