Madison County/Big Sky/59716

59716

ZIPSAFMR

Madison County, MT

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ZIP Investment Score

28Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,580	$1,740	26.7%
1 BR	$1,710	$1,710	29.1%
2 BR	$2,230	$2,450	29.7%
3 BR	$3,080	$3,390	35.5%
4 BR	$3,690	$3,550	31.8%
5 BR	$4,244	Not available	31.8%
6 BR	$4,880	Not available	31.8%
7 BR	$5,612	Not available	31.8%
8 BR	$6,454	Not available	31.8%

Purchase Price Calculator

Maximum purchase price

$302,153

Cost breakdown

+Likely effective rent$2,450

HUD FMR$2,230

Market rent$3,230

Est. payment standard (110%)Used$2,450

-Principal and interest-$1,528

Loan amount$241,722

Down payment$60,431

Rate6.50%

Term30 years

-Operating costs-$722

Property taxes-$302

Insurance-$175

Utilities$0

HOA$0

Management-$245

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$39,093(64.7% ROI)

Projected value

$325,385

Return breakdown

Property appreciation+$23,233

Loan principal paid down+$8,660

Rental cash flow+$7,200

5-year hold

+$67,149(111.1% ROI)

Projected value

$341,858

Return breakdown

Property appreciation+$39,705

Loan principal paid down+$15,444

Rental cash flow+$12,000

10-year hold

+$145,428(240.7% ROI)

Projected value

$386,781

Return breakdown

Property appreciation+$84,628

Loan principal paid down+$36,799

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.59ratio

FMR$1,580

Market$2,690

vs market-$1,110

FMR is below market; voucher rent may lag private rents.

0.59

2 BR

0.69ratio

FMR$2,230

Market$3,230

vs market-$1,000

FMR is below market; voucher rent may lag private rents.

0.69

3 BR

0.79ratio

FMR$3,080

Market$3,900

vs market-$820

FMR is below market; voucher rent may lag private rents.

0.79

4 BR

1.04ratio

FMR$3,690

Market$3,550

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.04

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 59716 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 59716 (Big Sky, MT) is $2,230 a month. That is down 3.5% from $2,310 in FY 2026. Big Sky is in the Madison 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 $1,543. Among 16 ZIP codes in Madison County, 59716 has the 2nd-highest two-bedroom rent (county range $1,390–$2,380). The median county two-bedroom FMR in Montana is $1,310, so ZIP 59716 is 70% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 59716
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,620	$1,580	−2.5%	$1,422–$1,738
1BR	$1,770	$1,710	−3.4%	$1,539–$1,881
2BR	$2,310	$2,230	−3.5%	$2,007–$2,453
3BR	$3,200	$3,080	−3.7%	$2,772–$3,388
4BR	$3,810	$3,690	−3.1%	$3,321–$4,059

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 59716
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,580	$1,710	$2,230	$3,080	$3,690
FY 2026	$1,620	$1,770	$2,310	$3,200	$3,810
FY 2025	$1,640	$1,810	$2,330	$3,190	$3,860
FY 2024area FMR	$777	$795	$1,023	$1,237	$1,611
FY 2023area FMR	$863	$883	$997	$1,213	$1,561

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

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 59716
59710	$1,390	−37.7%
59716Current	$2,230	—
59718	$2,380	+6.7%
59720	$1,530	−31.4%
59721	$1,390	−37.7%
59729	$1,980	−11.2%
59735	$2,130	−4.5%
59740	$1,780	−20.2%
59741	$2,140	−4.0%
59745	$2,010	−9.9%
59747	$1,800	−19.3%
59749	$1,430	−35.9%

Questions about ZIP 59716 rents

How much will Section 8 pay for a two-bedroom in ZIP 59716?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,543, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,389 to $1,697 a month; under the ZIP-level Small Area FMR of $2,230 it would be $2,007 to $2,453. 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 59716 in?

ZIP 59716 is in the Madison County, MT non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,543.

How much did fair market rent change in ZIP 59716 for FY 2027?

The two-bedroom FMR fell 3.5%, from $2,310 in FY 2026 to $2,230 in FY 2027. Since FY 2025 it has fallen 4.3%.

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 rent Big Sky, MT fair market rent MT statewide rents What is SAFMR?Data sources