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Musselshell County/Melstone/59054

59054

ZIPSAFMR
Musselshell County, MT
Zillow

ZIP Investment Score

127Above average

095130300
BRFMR
Eff. Rent
0 BR$1,020$1,020
1 BR$1,210$1,210
2 BR$1,330$1,330
3 BR$1,850$1,850
4 BR$2,190$2,190
5 BR$2,519Not available
6 BR$2,896Not available
7 BR$3,331Not available
8 BR$3,830Not available

Purchase Price Calculator

Maximum purchase price
$135,721

Cost breakdown

+Likely effective rent$1,330
HUD FMRUsed$1,330
Market rentN/A
Est. payment standardN/A
-Principal and interest-$686
Loan amount$108,577
Down payment$27,144
Rate6.50%
Term30 years
-Operating costs-$444
Property taxes-$136
Insurance-$175
Utilities$0
HOA$0
Management-$133
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,526(79.3% ROI)
Projected value
$146,157
Return breakdown
Property appreciation+$10,436
Loan principal paid down+$3,890
Rental cash flow+$7,200
5-year hold
+$36,772(135.5% ROI)
Projected value
$153,556
Return breakdown
Property appreciation+$17,835
Loan principal paid down+$6,937
Rental cash flow+$12,000
10-year hold
+$78,543(289.4% ROI)
Projected value
$173,734
Return breakdown
Property appreciation+$38,013
Loan principal paid down+$16,530
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 59054 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59054 (Melstone, MT) is $1,330 a month. That is up 0.8% from $1,320 in FY 2026. Melstone is in the Musselshell County, MT non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,348. Among 5 ZIP codes in Musselshell County, 59054 has the 4th-highest two-bedroom rent (county range $1,300–$1,400). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59054 is 2% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59054
BedroomsFY 2027Change90–110% range
Studio$1,020+3.0%$918–$1,122
1BR$1,210+0.8%$1,089–$1,331
2BR$1,330+0.8%$1,197–$1,463
3BR$1,850+0.5%$1,665–$2,035
4BR$2,190−1.4%$1,971–$2,409

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59054
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,020$1,210$1,330$1,850$2,190
FY 2026$990$1,200$1,320$1,840$2,220
FY 2025$790$840$1,070$1,490$1,800
FY 2024area FMR$675$707$929$1,309$1,485
FY 2023area FMR$661$697$917$1,257$1,426

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Musselshell County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 59054
59015$1,380+3.8%
59046$1,300−2.3%
59054Current$1,330—
59059$1,350+1.5%
59072$1,400+5.3%

Questions about ZIP 59054 rents

How much will Section 8 pay for a two-bedroom in ZIP 59054?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,348, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,213 to $1,483 a month; under the ZIP-level Small Area FMR of $1,330 it would be $1,197 to $1,463. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 59054 in?

ZIP 59054 is in the Musselshell County, MT non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,348.

How much did fair market rent change in ZIP 59054 for FY 2027?

The two-bedroom FMR rose 0.8%, from $1,320 in FY 2026 to $1,330 in FY 2027. Since FY 2025 it has risen 24.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMelstone, MT fair market rentMT statewide rentsWhat is SAFMR?Data sources