Location: Lake County, MT | Metro: Lake County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,550 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,530 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 59914 for Section 8 landlords presents several challenges that must be carefully considered before proceeding. Tenant turnover is a significant concern, especially when comparing the market rent of $1,375 against the Federal Market Rent (FMR) of $1,900 for fiscal year 2026. This gap suggests that tenants may struggle to afford market rents, leading to higher turnover rates and increased costs for landlords.
Vacancy exposure is another critical risk factor. The average days on market (DOM) for properties in this area is currently unknown, which makes it difficult to predict how long a property might remain vacant. Given the uncertainty, landlords should prepare for potential extended periods without rental income, which can impact cash flow and profitability.
Deferred maintenance poses a threat due to the relatively high typical home value of $846,065 compared to the median income of $83,750. This disparity indicates that residents may not have the financial capacity to maintain homes at optimal levels, potentially resulting in higher repair and maintenance expenses for landlords.
Despite these risks, there are factors that mitigate some of the concerns. The renter share in ZIP 59914 stands at 28.5%, a figure that is notably high. High renter density generally correlates with higher demand for housing vouchers, which can stabilize occupancy and provide a steady stream of income through the Section 8 program.
In conclusion, based on the data available, the risk for a first-time Section 8 landlord in ZIP 59914 is moderate. While there are significant risks associated with tenant turnover, vacancy exposure, and deferred maintenance, the high renter share offers a substantial counterbalance, making the investment feasible with careful management and preparation.
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.