Location: Madison County, MT | Metro: Madison County, MT
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 | $1,360 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,980 |
| 5 Bedrooms | $3,457 |
| 6 Bedrooms | $3,872 |
| 7 Bedrooms | $4,182 |
| 8 Bedrooms | $4,391 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,450 | $821,531 | 0.3% | F |
U.S. Census Bureau data (2024)
The ZIP code 59740 presents a unique snapshot of the housing market, characterized by a strong foundation in homeownership and a clear absence of rental activity. With a Fair Market Rent (FMR) of $1,350 for fiscal year 2026, it's evident that the rental sector is not a significant player in this area. This is further underscored by the reported 0.0% renter share, which indicates an almost entirely owner-occupied community.
The median home value stands at $793,980, suggesting a robust real estate landscape where property ownership is both prevalent and valuable. However, the lack of data on market rent, price-cut share, and days on market (DOM) complicates a straightforward analysis of the supply-demand balance. Despite these missing pieces, the high median home value implies a market where demand could be outpacing supply, driving up the cost of homeownership.
In a market with such a high median home value and a complete absence of renters, there is likely a long-term trend of housing pressure favoring owners. This dynamic can create challenges for potential renters who might find the area less affordable due to the low rental stock and the premium placed on homeownership. The trajectory of the market appears to be moving towards higher values, supported by the strong FMR and median home value figures, although without historical context, it's difficult to predict the exact pace of this movement.
Landlords and small-portfolio investors should take note of the limited rental opportunities in this ZIP code. While the rental market may not offer immediate prospects, the underlying strength in homeownership could indicate a stable and potentially growing market for those willing to invest in residential properties aimed at owner-occupiers.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.