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Custer County/Miles City/59301

59301

ZIPSAFMR
Custer County, MT
Zillow

ZIP Investment Score

35Below average

095130300
BRFMR
Eff. Rent
0 BR$1,160$830
1 BR$1,230$800
2 BR$1,610$850
3 BR$2,190$890
4 BR$2,470$1,110
5 BR$2,841Not available
6 BR$3,267Not available
7 BR$3,757Not available
8 BR$4,320Not available

Purchase Price Calculator

Maximum purchase price
$64,393

Cost breakdown

+Likely effective rent$850
HUD FMR$1,610
Market rentUsed$850
Est. payment standard (90%)$1,450
-Principal and interest-$326
Loan amount$51,515
Down payment$12,879
Rate6.50%
Term30 years
-Operating costs-$324
Property taxes-$64
Insurance-$175
Utilities$0
HOA$0
Management-$85
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$13,997(108.7% ROI)
Projected value
$69,344
Return breakdown
Property appreciation+$4,951
Loan principal paid down+$1,846
Rental cash flow+$7,200
5-year hold
+$23,753(184.4% ROI)
Projected value
$72,855
Return breakdown
Property appreciation+$8,462
Loan principal paid down+$3,291
Rental cash flow+$12,000
10-year hold
+$49,878(387.3% ROI)
Projected value
$82,429
Return breakdown
Property appreciation+$18,036
Loan principal paid down+$7,843
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.40
1 BR
1.54
2 BR
1.89
3 BR
2.46
4 BR
2.23
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 59301 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59301 (Miles City, MT) is $1,610 a month. That is unchanged from FY 2026. Miles City is in the Custer 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 $1,612. Among 6 ZIP codes in Custer County, 59301 is tied for the highest two-bedroom rent (county range $1,470–$1,610). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59301 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59301
BedroomsFY 2027Change90–110% range
Studio$1,160+4.5%$1,044–$1,276
1BR$1,2300.0%$1,107–$1,353
2BR$1,6100.0%$1,449–$1,771
3BR$2,190+1.4%$1,971–$2,409
4BR$2,470+6.0%$2,223–$2,717

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59301
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,230$1,610$2,190$2,470
FY 2026$1,110$1,230$1,610$2,160$2,330
FY 2025$1,070$1,190$1,560$2,140$2,150
FY 2024area FMR$708$795$1,044$1,453$1,458
FY 2023area FMR$702$739$973$1,371$1,376

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

Two-bedroom rent in nearby Custer County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 59301
59301Current$1,610—
59336$1,470−8.7%
59338$1,6100.0%
59347$1,480−8.1%
59349$1,550−3.7%
59351$1,470−8.7%

Questions about ZIP 59301 rents

How much will Section 8 pay for a two-bedroom in ZIP 59301?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,612, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,451 to $1,773 a month; under the ZIP-level Small Area FMR of $1,610 it would be $1,449 to $1,771. 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 59301 in?

ZIP 59301 is in the Custer County, MT non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,612.

How much did fair market rent change in ZIP 59301 for FY 2027?

The two-bedroom FMR was unchanged at $1,610 in FY 2027. Since FY 2025 it has risen 3.2%.

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 rentMiles City, MT fair market rentMT statewide rentsWhat is SAFMR?Data sources