HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Gallatin County, Montana (FY 2026)
A two-bedroom in Gallatin County carries a FY 2026 Fair Market Rent of $2,154 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Gallatin keys off that figure.
2 bedroom FMR
$2,154
FY 2026, utilities included
Payment standard range
$1,939 to $2,369
90% to 110% of FMR
Income to afford 2BR
$86,160
per year, at 30% of income
Rank in Montana
1st of 56
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Gallatin moves to $2,109. That's down 2%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Gallatin actually rent for?
Search any address in Gallatin 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 | $1,485 | $1,337 to $1,634 | $59,400 | $28.56/hr | +2.6% |
| 1 bedroom | $1,642 | $1,478 to $1,806 | $65,680 | $31.58/hr | +1.0% |
| 2 bedroom | $2,154 | $1,939 to $2,369 | $86,160 | $41.42/hr | +3.2% |
| 3 bedroom | $2,996 | $2,696 to $3,296 | $119,840 | $57.62/hr | +2.5% |
| 4 bedroom | $3,537 | $3,183 to $3,891 | $141,480 | $68.02/hr | +2.4% |
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 | $4,068 | $3,661 to $4,475 |
| 6 bedroom Estimate | $4,598 | $4,138 to $5,058 |
| 7 bedroom Estimate | $5,129 | $4,616 to $5,642 |
| 8 bedroom Estimate | $5,659 | $5,093 to $6,225 |
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 Gallatin, that runs from $1,485 for a studio up to $3,537 for four bedrooms, all five rates in the table above.
Gallatin is its own HUD metro area (Bozeman, MT), so the rate here is set from rents inside the county rather than a wider region.
Among Montana's 56 counties, Gallatin ranks 1st for two-bedroom FMR. That's about 65% above the state median of $1,307 and about 112% above the national median county at $1,018. About 119,685 people live here, 2nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,880 in 59758 (West Yellowstone) and $2,420 in 59718 (Bozeman), with the 12 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.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 59714 | Belgrade | $2,030 | -5.8% |
| 59715 | Bozeman | $1,920 | -10.9% |
| 59716 | Big Sky | $2,310 | +7.2% |
| 59717 | Bozeman | $2,154County rate | — |
| 59718 | Bozeman | $2,420 | +12.3% |
| 59719 | Bozeman | $2,150 | -0.2% |
| 59730 | Gallatin Gateway | $2,290 | +6.3% |
| 59741 | Manhattan | $2,210 | +2.6% |
| 59752 | Three Forks | $1,920 | -10.9% |
| 59758 | West Yellowstone | $1,880 | -12.7% |
| 59760 | Willow Creek | $1,880 | -12.7% |
| 59771 | Bozeman | $2,150 | -0.2% |
| 59772 | Bozeman | $2,150 | -0.2% |
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 Gallatin somewhere between $1,939 and $2,369. 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.
$2,154 a month is affordable, by HUD's 30% rule, on an income of roughly $86,160 a year. Put another way, $41 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% ($1,939) | HAP at 100% ($2,154) | HAP at 110% ($2,369) |
|---|---|---|---|---|
| $2,500 | $750 | $1,189 | $1,404 | $1,619 |
| $4,000 | $1,200 | $739 | $954 | $1,169 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($2,087) to FY 2026 ($2,154). Since FY 2020 it's up 117% in total, about 13.8% 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 | $698 | $760 | $991 | $1,430 | $1,740 | — |
| FY 2021 | $783 | $845 | $1,100 | $1,574 | $1,905 | +11.0% |
| FY 2022 | $754 | $825 | $1,078 | $1,531 | $1,845 | -2.0% |
| FY 2023 | $819 | $894 | $1,164 | $1,654 | $1,983 | +8.0% |
| FY 2024 | $901 | $999 | $1,275 | $1,797 | $2,164 | +9.5% |
| FY 2025 | $1,448 | $1,626 | $2,087 | $2,924 | $3,453 | +63.7% |
| FY 2026 | $1,485 | $1,642 | $2,154 | $2,996 | $3,537 | +3.2% |
| FY 2027 | $1,469 | $1,612 | $2,109 | $2,920 | $3,487 | -2.1% |
Nearby counties
Madison County
$1,54037 mi · pop 8,742
Park County
$1,60538 mi · pop 17,320
Broadwater County
$1,74853 mi · pop 6,977
Jefferson County
$1,40459 mi · pop 12,273
Meagher County
$1,39364 mi · pop 1,948
Sweet Grass County
$1,17667 mi · pop 3,697
Silver Bow County
$1,41474 mi · pop 35,306
Beaverhead County
$1,07287 mi · pop 9,469
Questions people ask
$2,154 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,485 for a studio, $1,642 for one bedroom, $2,996 for three and $3,537 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 Gallatin actually go for?
HUD's number is one input. Search any address in Gallatin for a rent estimate built from nearby comps. 3 free searches, no card.
Free tier. No credit card.