HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Teton County, Montana (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Teton County is $1,360 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,360
FY 2026, utilities included
Payment standard range
$1,224 to $1,496
90% to 110% of FMR
Income to afford 2BR
$54,400
per year, at 30% of income
Rank in Montana
24th of 56
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Teton moves to $1,363. 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 Teton actually rent for?
Search any address in Teton 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 | $1,019 | $917 to $1,121 | $40,760 | $19.60/hr | +5.4% |
| 1 bedroom | $1,241 | $1,117 to $1,365 | $49,640 | $23.87/hr | +4.3% |
| 2 bedroom | $1,360 | $1,224 to $1,496 | $54,400 | $26.15/hr | +3.2% |
| 3 bedroom | $1,891 | $1,702 to $2,080 | $75,640 | $36.37/hr | +8.3% |
| 4 bedroom | $2,171 | $1,954 to $2,388 | $86,840 | $41.75/hr | +9.9% |
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 | $2,497 | $2,247 to $2,747 |
| 6 bedroom Estimate | $2,822 | $2,540 to $3,104 |
| 7 bedroom Estimate | $3,148 | $2,833 to $3,463 |
| 8 bedroom Estimate | $3,474 | $3,127 to $3,821 |
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 Teton, that runs from $1,019 for a studio up to $2,171 for four bedrooms, all five rates in the table above.
Because Teton 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, Bynum included.
Among Montana's 56 counties, Teton ranks 24th for two-bedroom FMR. That's about 4% above the state median of $1,307 and about 34% above the national median county at $1,018. About 6,238 people live here, 32nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,300 in 59419 (Bynum) and $1,500 in 59436 (Fairfield), with the 6 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 Teton somewhere between $1,224 and $1,496. 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.
$1,360 a month is affordable, by HUD's 30% rule, on an income of roughly $54,400 a year. Put another way, $26 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% ($1,224) | HAP at 100% ($1,360) | HAP at 110% ($1,496) |
|---|---|---|---|---|
| $2,500 | $750 | $474 | $610 | $746 |
| $4,000 | $1,200 | $24 | $160 | $296 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($1,318) to FY 2026 ($1,360). Since FY 2020 it's up 72% in total, about 9.4% 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 | $517 | $602 | $793 | $988 | $1,392 | — |
| FY 2021 | $543 | $598 | $775 | $1,001 | $1,342 | -2.3% |
| FY 2022 | $535 | $592 | $757 | $1,053 | $1,296 | -2.3% |
| FY 2023 | $596 | $694 | $826 | $1,140 | $1,390 | +9.1% |
| FY 2024 | $658 | $806 | $905 | $1,221 | $1,367 | +9.6% |
| FY 2025 | $967 | $1,190 | $1,318 | $1,746 | $1,975 | +45.6% |
| FY 2026 | $1,019 | $1,241 | $1,360 | $1,891 | $2,171 | +3.2% |
| FY 2027 | $1,042 | $1,205 | $1,363 | $1,887 | $2,278 | +0.2% |
Nearby counties
Pondera County
$1,25425 mi · pop 5,987
Cascade County
$1,28444 mi · pop 84,423
Toole County
$1,23061 mi · pop 5,018
Chouteau County
$1,30766 mi · pop 5,897
Glacier County
$1,27570 mi · pop 13,781
Liberty County
$1,03475 mi · pop 1,993
Lewis and Clark County
$1,64776 mi · pop 71,487
Powell County
$1,13390 mi · pop 6,998
Questions people ask
$1,360 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,019 for a studio, $1,241 for one bedroom, $1,891 for three and $2,171 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 Teton actually go for?
HUD's number is one input. Search any address in Teton for a rent estimate built from nearby comps. 3 free searches, no card.
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