Section 8 Fair Market Rent (FMR) for ZIP 59853 - 2027

Location: Sanders County, MT | Metro: Sanders County, MT

Investment Score for ZIP 59853

Monthly Rent (2BR)

$1,510

Median Price (2BR)

$500,873

1% Rule

0.3%

Annual Yield

3.62%

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	$1,040
1 Bedroom	$1,190
2 Bedrooms	$1,510
3 Bedrooms	$1,800
4 Bedrooms	$2,430
5 Bedrooms	$2,819
6 Bedrooms	$3,157
7 Bedrooms	$3,410
8 Bedrooms	$3,581

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,510	$500,873	0.3%	F
3BR	$1,800	$563,731	0.32%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,030

Median Household Income

$60,417

Housing Units

515

Renter Percentage

21.8%

Occupancy Rate

76.7%

Renter Occupied

The ZIP code 59853, encompassing Trout Creek, MT, offers a unique blend of rural charm and accessibility to larger metropolitan areas, making it an intriguing market for real estate investors. Nestled in the heart of Montana, this area provides a tranquil setting with ample outdoor recreational opportunities, yet it remains close enough to urban centers to attract a diverse tenant pool.

Fair Market Rent (FMR): $1,670 (metro FY 2026): This figure indicates the average rent for a two-bedroom apartment in the broader metro area, which can serve as a benchmark for rental pricing in Trout Creek.
Market Rent: $832 (Census ACS): The actual market rent for properties in Trout Creek is significantly lower than the FMR, suggesting that there is potential for price increases as the market evolves.
Median Home Value: $490,078: Properties in Trout Creek are priced at a median value that is relatively high compared to the state average, reflecting the desirability and quality of homes in this area.
Renter Share: 21.8%: With nearly a quarter of households being renters, there is a notable demand for rental properties, although it is not overwhelming.
Median Income: $60,417: The median household income in Trout Creek is indicative of a middle-class community, capable of supporting modest rental rates but not luxury accommodations.

The combination of a lower-than-average market rent and a higher-than-average median home value suggests that Trout Creek presents an opportunity for investors to acquire properties at a reasonable cost while potentially increasing rents over time. However, the relatively low renter share indicates that the demand for rentals is moderate, and investors should consider the local economy's ability to support rental prices. Given the median income, properties should be priced to attract middle-income tenants, ensuring steady occupancy and returns. Overall, Trout Creek offers a balanced investment opportunity with room for growth in rental markets, suitable for cautious, long-term investors.

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.