Location: Bozeman, MT | Metro: Bozeman, MT MSA
| 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 |
U.S. Census Bureau data (2024)
ZIP code 59760 is primarily a homeowner-dominated area, with only 5.6% of the population renting. This suggests that the demand for rental properties using Section 8 vouchers is likely to be lower compared to areas with higher percentages of renters. The median household income in this ZIP code is $63,571, which provides a benchmark for assessing affordability.
The Fair Market Rent (FMR) for the area, as determined by HUD for fiscal year 2026, is set at $1,880. This figure represents the maximum amount that a Section 8 voucher holder can pay towards their rent in the metro area. To put this into perspective, if we consider a typical household in ZIP 59760 earning the median income, the monthly rent would consume approximately 36% of their gross monthly income, assuming a standard rent-to-income ratio.
However, since the specific market rent for ZIP 59760 is not provided, it's important to note that the actual percentage of income spent on rent could vary. In a homeowner-dominated area, landlords should anticipate a smaller pool of potential Section 8 tenants. The FMR of $1,880 is a key figure for understanding the financial capacity of voucher holders in the area.
A landlord in ZIP 59760 should expect tenants who are financially constrained but seeking affordable housing options. These tenants will rely heavily on their Section 8 vouchers to cover the majority of their rent, up to the $1,880 limit. Given the low percentage of renters, competition for Section 8 tenants might be less intense, allowing landlords to maintain higher standards for property management and maintenance.
In summary, while ZIP 59760 has a relatively low concentration of renters, the presence of Section 8 vouchers can still provide a stable source of tenancy for those willing to participate in the program. Landlords should be prepared to accept a certain level of government oversight in exchange for a steady stream of rental income that aligns with the FMR guidelines.
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.