Location: Lake County, MT | Metro: Lake County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
17.3% of residents in ZIP code 59915 are renters, indicating a modest demand for rental properties in the area. However, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,480, which provides a benchmark for affordable housing payments. Despite the N/A placeholder for market rent, it's clear that the median home value stands at $817,399, suggesting a higher-end residential market. The median income of $58,750 reflects the financial capability of the local population, which is important for assessing the viability of Section 8 tenants who must meet income eligibility requirements. With the lack of data on days on market (DOM) and the percentage of price-cut share, it's evident that the real estate transactions in this area may not be as frequent or competitive as in other regions. This could imply a stable market where properties maintain their value without significant fluctuations. In conclusion, while the median home value is high, the FMR and median income figures suggest that Section 8 can still be a viable option for landlords in ZIP 59915, as long as they align their rents with the affordable housing guidelines.
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.