HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Carter County, Montana (FY 2026)
$1,244 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Carter County, and it's the baseline every voucher in Carter is measured against.
2 bedroom FMR
$1,244
FY 2026, utilities included
Payment standard range
$1,120 to $1,368
90% to 110% of FMR
Income to afford 2BR
$49,760
per year, at 30% of income
Rank in Montana
36th of 56
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Carter moves to $1,247. That's unchanged. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Carter actually rent for?
Search any address in Carter for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $932 | $839 to $1,025 | $37,280 | $17.92/hr | +5.4% |
| 1 bedroom | $1,002 | $902 to $1,102 | $40,080 | $19.27/hr | +1.1% |
| 2 bedroom | $1,244 | $1,120 to $1,368 | $49,760 | $23.92/hr | +3.2% |
| 3 bedroom | $1,492 | $1,343 to $1,641 | $59,680 | $28.69/hr | +2.8% |
| 4 bedroom | $2,011 | $1,810 to $2,212 | $80,440 | $38.67/hr | +4.6% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,313 | $2,082 to $2,544 |
| 6 bedroom Estimate | $2,614 | $2,353 to $2,875 |
| 7 bedroom Estimate | $2,916 | $2,624 to $3,208 |
| 8 bedroom Estimate | $3,218 | $2,896 to $3,540 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Carter, that runs from $932 for a studio up to $2,011 for four bedrooms, all five rates in the table above.
Because Carter sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Alzada included.
Among Montana's 56 counties, Carter ranks 36th for two-bedroom FMR. That's about 5% below the state median of $1,307 and about 22% above the national median county at $1,018. About 1,332 people live here, 50th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,090 in 59311 (Alzada) and $1,240 in 59332 (Hammond), with the 5 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Carter somewhere between $1,120 and $1,368. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,244 a month is affordable, by HUD's 30% rule, on an income of roughly $49,760 a year. Put another way, $24 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,120) | HAP at 100% ($1,244) | HAP at 110% ($1,368) |
|---|---|---|---|---|
| $2,500 | $750 | $370 | $494 | $618 |
| $4,000 | $1,200 | $0 | $44 | $168 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($1,205) to FY 2026 ($1,244). Since FY 2020 it's up 74% in total, about 9.7% a year. The Montana median moved up 3% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $492 | $551 | $714 | $1,030 | $1,141 | — |
| FY 2021 | $514 | $644 | $734 | $1,050 | $1,150 | +2.8% |
| FY 2022 | $535 | $664 | $757 | $1,075 | $1,183 | +3.1% |
| FY 2023 | $596 | $731 | $826 | $1,174 | $1,293 | +9.1% |
| FY 2024 | $658 | $806 | $905 | $1,275 | $1,425 | +9.6% |
| FY 2025 | $884 | $991 | $1,205 | $1,452 | $1,922 | +33.1% |
| FY 2026 | $932 | $1,002 | $1,244 | $1,492 | $2,011 | +3.2% |
| FY 2027 | $953 | $953 | $1,247 | $1,486 | $2,048 | +0.2% |
Nearby counties
Powder River County
$1,02549 mi · pop 1,773
Fallon County
$1,40159 mi · pop 2,941
Custer County
$1,60879 mi · pop 11,957
Prairie County
$1,54895 mi · pop 1,283
Wibaux County
$1,548105 mi · pop 1,119
Rosebud County
$1,186111 mi · pop 8,310
Dawson County
$1,254131 mi · pop 8,915
Treasure County
$1,548142 mi · pop 680
Questions people ask
$1,244 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $932 for a studio, $1,002 for one bedroom, $1,492 for three and $2,011 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Carter actually go for?
HUD's number is one input. Search any address in Carter for a rent estimate built from nearby comps. 3 free searches, no card.
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