Location: Powell County, MT | Metro: Powell County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 59854, as set by the Department of Housing and Urban Development for metro fiscal year 2026, is $1,350. This figure represents the payment standard for Section 8 housing vouchers in the area. It does not mean that you will receive $1,350 as rent; rather, it is the maximum amount that the voucher program will pay towards rent.
To put this into perspective, the average rent for the same ZIP code, according to the Census Bureau's American Community Survey, is $758. This suggests that the FMR is significantly higher than the typical market rent, which can be advantageous for landlords participating in the Section 8 program.
In ZIP code 59854, 17.0% of the population are renters. This indicates a moderate level of rental demand in the area, suggesting that there is a reasonable pool of potential tenants who could benefit from Section 8 vouchers. However, the demand alone does not guarantee occupancy, so it's important to consider other factors such as the condition and location of your property.
The median home value in ZIP code 59854 is $589,907. If you're looking to acquire a property for your first Section 8 rental, this figure provides a baseline for the acquisition cost. Keep in mind that the actual price of a rental property could be lower, but it's essential to ensure that the property meets the required standards for the program.
Before you decide to enroll your property in the Section 8 program, one critical step is to verify that your property complies with HUD’s Housing Quality Standards (HQS). These standards cover various aspects of the property, including safety, structural integrity, and general living conditions. Ensuring HQS compliance will prevent delays and ensure that you can start receiving payments promptly once your tenant moves in.
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.