Location: Flathead County, MT | Metro: Flathead 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 | $1,150 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,170 | $311,087 | 0.38% | F |
| 2BR | $1,530 | $461,714 | 0.33% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 59916 (Essex, MT) hinges on its yield and stability metrics. With a Fair Market Rent (FMR) of $1,480 for the metro area in fiscal year 2026, and a median home value of $416,826, Essex presents a unique opportunity for real estate investment.
The yield can be assessed by comparing the FMR to the median home value. Given that the FMR is significantly lower than the home value, it suggests that rental income would be a smaller percentage of the total asset value, indicating a moderate yield environment. This is further underscored by the low proportion of renters in the area, at only 7.1%. However, the lack of data on days on market (DOM) makes it challenging to gauge the speed at which properties might turn over, which could affect overall yield.
In terms of stability, the median income figure of $60,250 provides some insight into the economic health of the area. While this income level supports a modest rental market, the low percentage of renters implies limited demand for rental properties, which could lead to higher vacancy rates and less stable cash flows. The absence of DOM data also introduces an element of uncertainty regarding how quickly properties can be leased out.
Considering these factors, ZIP 59916 is best classified as a steady-cashflow zone, albeit with a relatively low yield due to the high home values and limited rental market. The moderate stability, driven by the median income figure, indicates that while there is demand for rentals, it is not robust enough to support high yields typical of flip-style markets. Investors should expect a conservative return profile with potential for steady, though not spectacular, cash flow.
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.