Location: Ravalli County, MT | Metro: Missoula, MT HUD Metro FMR Area
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 | $1,150 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $555,318 | 0.28% | F |
| 3BR | $2,110 | $641,109 | 0.33% | F |
| 4BR | $2,550 | $741,452 | 0.34% | F |
| 5BR | $2,958 | $881,218 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 59833, located in Florence, MT, stands out within Ravalli County due to its unique demographic and economic characteristics. With a population of 6,316 residents, only 10.1% rent their homes, indicating a strong preference for homeownership in the area. The median household income is $94,097, which is relatively high compared to the national average, suggesting a prosperous community. Additionally, the median home value in ZIP 59833 is $649,619, reflecting a robust real estate market and significant investment in property.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 59833 in fiscal year 2024 is set at $1,270. This figure is notably higher than the Census-reported market rent of $1,112, indicating that landlords participating in the Section 8 program can expect slightly higher rental income than the typical market rate. This difference is advantageous for landlords who are considering joining the Section 8 program, as it provides an incentive to accept vouchers despite potential administrative complexities.
The data signature for ZIP 59833 reads as stable. The high median income and home values suggest a steady economic environment where residents are likely to maintain their financial stability. Furthermore, the low percentage of renters indicates that the housing market is primarily driven by homeowners, which often contributes to long-term stability. While the slight increase in FMR over market rates is beneficial for voucher holders and landlords alike, it does not signal any major transitional shifts in the local economy or housing trends.
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.