Location: Ravalli County, MT | Metro: Ravalli County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
U.S. Census Bureau data (2024)
The median income in ZIP code 59871 stands at $32,163, indicating a community where financial resources are relatively constrained. Given the market rate is currently unavailable, we must rely on the Fair Market Rent (FMR) standard set for the area, which is $1,250 for the metro region in fiscal year 2026. This figure represents the voucher payment landlords can expect from participating in the Section 8 program.
To put this into context, consider that the median income equates to approximately $2,680 per month before taxes. If we apply a common rule of thumb that suggests housing costs should not exceed 30% of a household's income, then the maximum affordable rent for a household in ZIP 59871 would be around $804 per month. Clearly, the $1,250 voucher payment exceeds this affordability threshold, suggesting that many residents might struggle to cover their rent even with a voucher.
With only 12.2% of the 289-person population being renters, the rental market in ZIP 59871 is quite limited. This means landlords face less competition compared to areas with higher percentages of renters. However, the limited number of potential tenants also means that landlords must carefully consider their pricing strategies to attract and retain renters.
The disparity between what households can afford and the voucher payment presents an opportunity for landlords. By setting rents close to the voucher amount of $1,250, landlords can ensure they receive a steady and reliable income stream. While some may prefer cash-paying tenants, the reality is that the number of households capable of affording market rates without assistance is likely small. Therefore, focusing on accepting vouchers can help landlords secure tenants in a competitive but niche market.
For landlords and small-portfolio investors considering their strategy in ZIP 59871, the takeaway is clear: aligning with the voucher payment standards will likely increase the chances of successfully leasing properties. The limited rental market and the affordability gap suggest that those who adapt their approach to meet the needs of voucher recipients will find themselves better positioned to succeed in this challenging environment.
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.