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Cascade County/Great Falls/59401

59401

ZIPSAFMR
Cascade County, MT
Zillow

ZIP Investment Score

74Below average

095130300
BRFMR
Eff. Rent
0 BR$870$880
1 BR$890$980
2 BR$1,160$1,280
3 BR$1,610$1,730
4 BR$1,840$2,020
5 BR$2,116Not available
6 BR$2,433Not available
7 BR$2,798Not available
8 BR$3,218Not available

Purchase Price Calculator

Maximum purchase price
$128,291

Cost breakdown

+Likely effective rent$1,280
HUD FMR$1,160
Market rent$1,390
Est. payment standard (110%)Used$1,280
-Principal and interest-$649
Loan amount$102,633
Down payment$25,658
Rate6.50%
Term30 years
-Operating costs-$431
Property taxes-$128
Insurance-$175
Utilities$0
HOA$0
Management-$128
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,741(80.8% ROI)
Projected value
$138,155
Return breakdown
Property appreciation+$9,864
Loan principal paid down+$3,677
Rental cash flow+$7,200
5-year hold
+$35,416(138.0% ROI)
Projected value
$145,149
Return breakdown
Property appreciation+$16,858
Loan principal paid down+$6,557
Rental cash flow+$12,000
10-year hold
+$75,557(294.5% ROI)
Projected value
$164,223
Return breakdown
Property appreciation+$35,932
Loan principal paid down+$15,625
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.98
1 BR
0.82
2 BR
0.83
3 BR
0.89
4 BR
0.81
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 59401 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59401 (Great Falls, MT) is $1,160 a month. That is up 2.7% from $1,130 in FY 2026. Great Falls is in the Great Falls, MT MSA. 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 metro-wide two-bedroom FMR of $1,308. Among 20 ZIP codes in Cascade County, 59401 has the 20th-highest two-bedroom rent (county range $1,160–$1,960). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59401 is 11% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59401
BedroomsFY 2027Change90–110% range
Studio$870+2.4%$783–$957
1BR$890+3.5%$801–$979
2BR$1,160+2.7%$1,044–$1,276
3BR$1,610+2.5%$1,449–$1,771
4BR$1,840+2.8%$1,656–$2,024

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59401
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$870$890$1,160$1,610$1,840
FY 2026$850$860$1,130$1,570$1,790
FY 2025$810$850$1,110$1,560$1,760
FY 2024$650$690$910$1,280$1,440
FY 2023$600$630$830$1,170$1,310

Two-bedroom rent in nearby Cascade County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 59401
59401Current$1,160—
59403$1,310+12.9%
59404$1,550+33.6%
59405$1,320+13.8%
59406$1,310+12.9%
59412$1,220+5.2%
59414$1,280+10.3%
59421$1,350+16.4%
59436$1,580+36.2%
59440$1,620+39.7%
59443$1,440+24.1%
59463$1,310+12.9%

Questions about ZIP 59401 rents

How much will Section 8 pay for a two-bedroom in ZIP 59401?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,308, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,177 to $1,439 a month; under the ZIP-level Small Area FMR of $1,160 it would be $1,044 to $1,276. 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 59401 in?

ZIP 59401 is in the Great Falls, MT MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,308.

How much did fair market rent change in ZIP 59401 for FY 2027?

The two-bedroom FMR rose 2.7%, from $1,130 in FY 2026 to $1,160 in FY 2027. Since FY 2023 it has risen 39.8%.

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 rentGreat Falls, MT fair market rentMT statewide rentsWhat is SAFMR?Data sources