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Cascade County/Ulm/59485

59485

ZIPSAFMR
Cascade County, MT
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$1,490$1,490
1 BR$1,500$1,500
2 BR$1,960$1,960
3 BR$2,710$2,710
4 BR$2,980$2,980
5 BR$3,427Not available
6 BR$3,941Not available
7 BR$4,532Not available
8 BR$5,212Not available

Purchase Price Calculator

Maximum purchase price
$229,339

Cost breakdown

+Likely effective rent$1,960
HUD FMRUsed$1,960
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,160
Loan amount$183,471
Down payment$45,868
Rate6.50%
Term30 years
-Operating costs-$600
Property taxes-$229
Insurance-$175
Utilities$0
HOA$0
Management-$196
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,407(68.5% ROI)
Projected value
$246,973
Return breakdown
Property appreciation+$17,634
Loan principal paid down+$6,573
Rental cash flow+$7,200
5-year hold
+$53,859(117.4% ROI)
Projected value
$259,476
Return breakdown
Property appreciation+$30,137
Loan principal paid down+$11,722
Rental cash flow+$12,000
10-year hold
+$116,166(253.3% ROI)
Projected value
$293,573
Return breakdown
Property appreciation+$64,234
Loan principal paid down+$27,931
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
--
Tax rate
--
Mortgage rate
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ZIP 59485 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59485 (Ulm, MT) is $1,960 a month. That is up 42.0% from $1,380 in FY 2026. Ulm 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, 59485 has the highest two-bedroom rent (county range $1,160–$1,960). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59485 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59485
BedroomsFY 2027Change90–110% range
Studio$1,490+44.7%$1,341–$1,639
1BR$1,500+42.9%$1,350–$1,650
2BR$1,960+42.0%$1,764–$2,156
3BR$2,710+41.9%$2,439–$2,981
4BR$2,980+36.7%$2,682–$3,278

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59485
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,490$1,500$1,960$2,710$2,980
FY 2026$1,030$1,050$1,380$1,910$2,180
FY 2025$920$970$1,270$1,770$2,010
FY 2024$670$710$940$1,320$1,490
FY 2023$620$660$860$1,210$1,360

Two-bedroom rent in nearby Cascade County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 59485
59436$1,580−19.4%
59440$1,620−17.3%
59443$1,440−26.5%
59463$1,310−33.2%
59465$1,310−33.2%
59468$1,420−27.6%
59472$1,340−31.6%
59477$1,330−32.1%
59480$1,310−33.2%
59483$1,470−25.0%
59485Current$1,960—
59487$1,260−35.7%

Questions about ZIP 59485 rents

How much will Section 8 pay for a two-bedroom in ZIP 59485?

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 $1,960 it would be $1,764 to $2,156. 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 59485 in?

ZIP 59485 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 59485 for FY 2027?

The two-bedroom FMR rose 42.0%, from $1,380 in FY 2026 to $1,960 in FY 2027. Since FY 2023 it has risen 127.9%.

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