Section 8 Fair Market Rent (FMR) for ZIP 59828 - 2027
Location: Ravalli County, MT | Metro: Ravalli County, MT
Investment Score for ZIP 59828
F
Monthly Rent (2BR)
$1,630
Median Price (2BR)
$556,320
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,250 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,720 |
| 5 Bedrooms | $3,155 |
| 6 Bedrooms | $3,534 |
| 7 Bedrooms | $3,817 |
| 8 Bedrooms | $4,008 |
Investment Analysis by Bedroom Size
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms |
Monthly FMR |
Median Price |
1% Rule |
Grade |
| 2BR |
$1,630 |
$556,320 |
0.29% |
F |
| 3BR |
$2,250 |
$653,657 |
0.34% |
F |
| 4BR |
$2,720 |
$833,995 |
0.33% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$80,294
To determine if you should buy in ZIP 59828 (Corvallis, MT) for Section 8 investment, follow this decision tree:
- Does FMR $1,650 (metro FY 2026) clear debt service on a $658,751 property?
- Yes. The Fair Market Rent (FMR) of $1,650 is sufficient to cover the average monthly debt service on a property valued at $658,751. Assuming a typical mortgage rate and term, the monthly payment would be around $2,800. However, since Section 8 covers the entire rent amount up to the FMR, this scenario indicates that the rental income will indeed clear the debt service, making it financially viable.
- No. If your property's debt service exceeds $1,650 per month, then the answer is no. Section 8 will only pay up to the FMR, which means any amount over $1,650 must come from other sources, such as the tenant, to cover the full debt service.
- Is market rent $1,193 (Census ACS) above, at, or below FMR?
- Above FMR. If the market rent is higher than the FMR of $1,650, then it is advisable to consider other types of tenants who can pay the market rate. This would maximize your rental income potential.
- At or Below FMR. If the market rent is at or below the FMR, then Section 8 properties can be competitive with the market. This makes it a reasonable choice for landlords looking to enter the Section 8 housing market without sacrificing profitability.
- Are 16.1% renters + N/A-day DOM enough demand?
- It depends. With 16.1% of the population being renters, there is a notable but not overwhelming demand for rental properties. The lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. If the DOM is short, indicating high demand, then the area could support a Section 8 property. Conversely, if DOM is long, suggesting low demand, then the viability of a Section 8 investment decreases.
In conclusion, if the debt service is less than or equal to the FMR of $1,650 and the market rent is at or below this figure, the investment in ZIP 59828 for Section 8 properties is feasible. However, the success also hinges on the demand for rentals, which is currently ambiguous due to missing DOM data. Additional research into local rental market conditions and trends is recommended before making a final decision.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.