Montana · FIPS 30111 · HUD FY 2027
Yellowstone County, Montana Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Yellowstone County is $1,432 a month (rent plus utilities), 6% below the Montana average of $1,529 and 19% below the U.S. average of $1,761. That is up $15 (1.1%) from FY 2026. At 30% of income, a household needs about $57,280 a year to afford it.
- $1,4322-bedroom FMR+$15 (+1.1%) vs FY 2026
- $1,1321-bedroom FMRMontana: $1,223 · U.S.: $1,478
- $57,280Income for a 2-bedroom$28/hour full-time
- 16 of 562BR rank in Montana1 = highest rent
| Unit | Yellowstone County FY 2027 | FY 2026 | Change | Montana avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $1,003 | $1,016 | −$13 (−1.3%) | $1,114 | $1,379 | $40,120 |
| 1 bedroom | $1,132 | $1,109 | +$23 (+2.1%) | $1,223 | $1,478 | $45,280 |
| 2 bedrooms | $1,432 | $1,417 | +$15 (+1.1%) | $1,529 | $1,761 | $57,280 |
| 3 bedrooms | $1,983 | $1,951 | +$32 (+1.6%) | $2,086 | $2,266 | $79,320 |
| 4 bedrooms | $2,261 | $2,216 | +$45 (+2.0%) | $2,430 | $2,607 | $90,440 |
How Yellowstone County compares
- HUD sets this rent for the Billings, MT metro FMR area, which covers 180,073 residents in 2 counties.
- Across Montana, 2-bedroom FMRs run from $1,014 (Phillips County) to $2,109 (Gallatin County).
- Studio to 4-bedroom: $1,003, $1,132, $1,432, $1,983, $2,261. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 12 ZIP codes mostly in Yellowstone County (by land area), the 2-bedroom figure ranges from $1,280 to $2,060.
Small Area FMRs by ZIP code in Yellowstone County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 59002 | $1,040 | $1,180 | $1,490 | $2,060 | $2,350 | +$20 (+1.4%) | 4% above |
| 59006 | $920 | $1,000 | $1,280 | $1,760 | $2,000 | +$40 (+3.2%) | 11% below |
| 59015 | $1,020 | $1,120 | $1,380 | $1,900 | $2,230 | −$80 (−5.5%) | 4% below |
| 59024 | $1,010 | $1,140 | $1,440 | $1,990 | $2,270 | +$10 (+0.7%) | 1% above |
| 59037 | $960 | $1,070 | $1,370 | $1,890 | $2,170 | no change | 4% below |
| 59044 | $920 | $1,040 | $1,310 | $1,810 | $2,070 | −$50 (−3.7%) | 9% below |
| 59079 | $1,440 | $1,630 | $2,060 | $2,850 | $3,250 | +$80 (+4.0%) | 44% above |
| 59088 | $920 | $1,000 | $1,280 | $1,760 | $2,000 | −$110 (−7.9%) | 11% below |
| 59101 | $950 | $1,070 | $1,360 | $1,880 | $2,150 | +$10 (+0.7%) | 5% below |
| 59102 | $1,030 | $1,160 | $1,470 | $2,040 | $2,320 | −$10 (−0.7%) | 3% above |
| 59105 | $1,140 | $1,290 | $1,630 | $2,260 | $2,570 | +$30 (+1.9%) | 14% above |
| 59106 | $1,250 | $1,410 | $1,780 | $2,460 | $2,810 | +$50 (+2.9%) | 24% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.