Location: Granite County, MT | Metro: Granite County, MT
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 | $1,030 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,060 | $310,271 | 0.34% | F |
| 2BR | $1,350 | $405,053 | 0.33% | F |
| 3BR | $1,870 | $565,851 | 0.33% | F |
U.S. Census Bureau data (2024)
The rental market in ZIP code 59858, Philipsburg, MT, presents a unique challenge for both tenants and landlords. The median household income stands at $56,719, which is a solid figure for the area. However, without specific data on the market rate for rentals, it's challenging to provide a direct comparison to the median income.
When we look at the Section 8 voucher program, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,260. This amount represents the maximum payment that landlords can receive per month for renting units to families with Section 8 vouchers. To put this into perspective, if we assume a typical household spends around 30% of their income on housing, then the median income suggests a monthly housing budget of approximately $1,418 for a household in Philipsburg.
Given the FMR of $1,260, households receiving Section 8 vouchers would find it easier to afford housing compared to those relying solely on their income. This creates an affordability gap where landlords might face competition from those willing to accept voucher payments, especially if there are many properties listed at or below the FMR.
The takeaway for landlords considering whether to accept vouchers or only take cash-paying tenants is clear. Accepting vouchers can ensure a steady stream of rental income, albeit at a fixed rate. On the other hand, focusing on cash-paying tenants could potentially yield higher rents, but it also means competing against the stability offered by voucher-supported rents. Landlords should weigh the benefits of guaranteed payments against the possibility of higher rates from non-voucher tenants.
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.