Location: Madison County, MT | Metro: Madison County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 59747 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $1,350 per month for fiscal year 2026. This figure is specifically tailored for this ZIP code, reflecting local rental conditions.
A landlord might wonder how much they will actually receive when a tenant uses a Section 8 voucher. The process involves calculating the tenant's portion and adding utility allowances. Typically, the tenant contributes 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500 for a tenant in this area, the contribution would be $450. The remaining amount is covered by the housing authority, up to the SAFMR limit.
In addition to the base rent, utility allowances must be considered. These vary but can be estimated at around $300 per month for a two-bedroom unit. Thus, the total reimbursement a landlord could expect from a Section 8 voucher is $1,350 (SAFMR) minus the tenant's $450 contribution plus the utility allowance of $300. This equates to a maximum reimbursement of $1,200 per month.
Note that the SAFMR sets the ceiling on what the housing authority will pay. If the local market rent is higher than $1,350, landlords will face a reimbursement gap. Conversely, if the market rent is lower, landlords might benefit from a surplus. However, since the local market rent data for ZIP 59747 is currently unavailable, it's impossible to determine whether there will be a surplus or a shortfall.
To conclude, landlords in ZIP 59747 should expect a reimbursement of $1,200 per month for a two-bedroom apartment using a Section 8 voucher, assuming the SAFMR and typical tenant contributions. Without specific market rent data, the exact gap or surplus cannot be calculated, but it's clear that the economics are tightly bound by the SAFMR cap.
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.