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Lewis and Clark County/Helena/59602

59602

ZIPSAFMR
Lewis and Clark County, MT
Zillow

ZIP Investment Score

51Below average

095130300
BRFMR
Eff. Rent
0 BR$1,420$1,560
1 BR$1,630$1,660
2 BR$2,040$1,900
3 BR$2,820$2,150
4 BR$2,950$2,340
5 BR$3,392Not available
6 BR$3,901Not available
7 BR$4,487Not available
8 BR$5,160Not available

Purchase Price Calculator

Maximum purchase price
$220,423

Cost breakdown

+Likely effective rent$1,900
HUD FMR$2,040
Market rentUsed$1,900
Est. payment standard (96%)$1,950
-Principal and interest-$1,115
Loan amount$176,338
Down payment$44,085
Rate6.50%
Term30 years
-Operating costs-$585
Property taxes-$220
Insurance-$175
Utilities$0
HOA$0
Management-$190
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$30,466(69.1% ROI)
Projected value
$237,371
Return breakdown
Property appreciation+$16,948
Loan principal paid down+$6,318
Rental cash flow+$7,200
5-year hold
+$52,232(118.5% ROI)
Projected value
$249,388
Return breakdown
Property appreciation+$28,965
Loan principal paid down+$11,266
Rental cash flow+$12,000
10-year hold
+$112,583(255.4% ROI)
Projected value
$282,160
Return breakdown
Property appreciation+$61,737
Loan principal paid down+$26,846
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.79
1 BR
0.97
2 BR
1.07
3 BR
1.31
4 BR
1.26
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 59602 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59602 (Helena, MT) is $2,040 a month. That is unchanged from FY 2026. Helena is in the Lewis and Clark County, MT HUD Metro 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 metro-wide two-bedroom FMR of $1,653. Among 17 ZIP codes in Lewis and Clark County, 59602 is tied for the highest two-bedroom rent (county range $1,120–$2,040). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59602 is 56% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59602
BedroomsFY 2027Change90–110% range
Studio$1,420+0.7%$1,278–$1,562
1BR$1,6300.0%$1,467–$1,793
2BR$2,0400.0%$1,836–$2,244
3BR$2,820+1.1%$2,538–$3,102
4BR$2,950−4.5%$2,655–$3,245

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59602
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,420$1,630$2,040$2,820$2,950
FY 2026$1,410$1,630$2,040$2,790$3,090
FY 2025$1,370$1,580$2,000$2,640$3,000
FY 2024area FMR$729$837$1,057$1,370$1,575
FY 2023area FMR$683$791$1,003$1,292$1,498

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

Two-bedroom rent in nearby Lewis and Clark County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 59602
59601$1,650−19.1%
59602Current$2,040—
59604$1,650−19.1%
59620$1,650−19.1%
59623$1,650−19.1%
59624$1,650−19.1%
59625$1,650−19.1%
59626$1,650−19.1%
59633$1,480−27.5%
59634$1,610−21.1%
59635$1,520−25.5%
59636$1,910−6.4%

Questions about ZIP 59602 rents

How much will Section 8 pay for a two-bedroom in ZIP 59602?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,653, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,488 to $1,818 a month; under the ZIP-level Small Area FMR of $2,040 it would be $1,836 to $2,244. 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 59602 in?

ZIP 59602 is in the Lewis and Clark County, MT HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,653.

How much did fair market rent change in ZIP 59602 for FY 2027?

The two-bedroom FMR was unchanged at $2,040 in FY 2027. Since FY 2025 it has risen 2.0%.

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