HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Silver Bow County, Montana (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Silver Bow County is $1,414 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,414
FY 2026, utilities included
Payment standard range
$1,273 to $1,555
90% to 110% of FMR
Income to afford 2BR
$56,560
per year, at 30% of income
Rank in Montana
19th of 56
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Silver Bow moves to $1,417. 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 Silver Bow actually rent for?
Search any address in Silver Bow 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 | $1,028 | $925 to $1,131 | $41,120 | $19.77/hr | +8.8% |
| 1 bedroom | $1,149 | $1,034 to $1,264 | $45,960 | $22.10/hr | +6.7% |
| 2 bedroom | $1,414 | $1,273 to $1,555 | $56,560 | $27.19/hr | +3.2% |
| 3 bedroom | $1,967 | $1,770 to $2,164 | $78,680 | $37.83/hr | +2.4% |
| 4 bedroom | $2,180 | $1,962 to $2,398 | $87,200 | $41.92/hr | -0.5% |
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 | $2,507 | $2,256 to $2,758 |
| 6 bedroom Estimate | $2,834 | $2,551 to $3,117 |
| 7 bedroom Estimate | $3,161 | $2,845 to $3,477 |
| 8 bedroom Estimate | $3,488 | $3,139 to $3,837 |
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 Silver Bow, that runs from $1,028 for a studio up to $2,180 for four bedrooms, all five rates in the table above.
Because Silver Bow 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, Butte included.
Among Montana's 56 counties, Silver Bow ranks 19th for two-bedroom FMR. That's about 8% above the state median of $1,307 and about 39% above the national median county at $1,018. About 35,306 people live here, 8th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,260 in 59748 (Ramsay) and $1,420 in 59701 (Butte), with the 7 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 Silver Bow somewhere between $1,273 and $1,555. 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.
$1,414 a month is affordable, by HUD's 30% rule, on an income of roughly $56,560 a year. Put another way, $27 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% ($1,273) | HAP at 100% ($1,414) | HAP at 110% ($1,555) |
|---|---|---|---|---|
| $2,500 | $750 | $523 | $664 | $805 |
| $4,000 | $1,200 | $73 | $214 | $355 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($1,370) to FY 2026 ($1,414). Since FY 2020 it's up 67% in total, about 8.9% 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 | $623 | $690 | $849 | $1,058 | $1,150 | — |
| FY 2021 | $625 | $696 | $860 | $1,070 | $1,189 | +1.3% |
| FY 2022 | $581 | $663 | $829 | $1,025 | $1,240 | -3.6% |
| FY 2023 | $606 | $699 | $902 | $1,098 | $1,457 | +8.8% |
| FY 2024 | $632 | $723 | $932 | $1,240 | $1,538 | +3.3% |
| FY 2025 | $945 | $1,077 | $1,370 | $1,920 | $2,191 | +47.0% |
| FY 2026 | $1,028 | $1,149 | $1,414 | $1,967 | $2,180 | +3.2% |
| FY 2027 | $1,076 | $1,176 | $1,417 | $1,962 | $2,325 | +0.2% |
Nearby counties
Deer Lodge County
$1,08020 mi · pop 9,435
Jefferson County
$1,40436 mi · pop 12,273
Beaverhead County
$1,07246 mi · pop 9,469
Madison County
$1,54047 mi · pop 8,742
Granite County
$1,05351 mi · pop 3,368
Powell County
$1,13351 mi · pop 6,998
Broadwater County
$1,74858 mi · pop 6,977
Lewis and Clark County
$1,64763 mi · pop 71,487
Questions people ask
$1,414 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,028 for a studio, $1,149 for one bedroom, $1,967 for three and $2,180 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 Silver Bow actually go for?
HUD's number is one input. Search any address in Silver Bow for a rent estimate built from nearby comps. 3 free searches, no card.
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