Location: Lincoln County, MT | Metro: Lincoln County, MT
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The Section 8 real estate thesis for ZIP 59933 focuses on the significant gap between the Fair Market Rent (FMR) of $1,490 (metro FY 2026) and the lack of reported market rent data. This discrepancy highlights the importance of understanding local rental dynamics.
The FMR is higher than the typical market rent in ZIP 59933, suggesting that voucher tenants can be a yield play for landlords. Specifically, the FMR is $1,490, while the market rent remains unreported. Given the context of 100.0% renters, this indicates a strong reliance on rental properties. The median home value in the area is approximately $145,300, which is notably lower than the national average of around $200,000. Additionally, the median household income in ZIP 59933 is slightly more than $46,000 per year, reflecting a community where many residents may require housing assistance.
Despite the high FMR, landlords should be aware of the cost implications of accepting housing voucher tenants. Voucher payments typically cover the entire rent amount, but they may also come with administrative burdens and regulatory compliance requirements. However, given the high FMR relative to the likely lower market rents, landlords can potentially achieve higher yields compared to the open market.
In summary, ZIP 59933 presents a unique opportunity for landlords and small-portfolio investors due to the high FMR and the predominance of renters. While there is no specific market rent data, the reliance on rental properties and the lower median home value suggest that voucher tenants can provide a stable and potentially higher-yielding source of income. Landlords should weigh the benefits of higher FMR against any additional costs associated with housing voucher programs.
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.