HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Valley County, Montana (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Valley County is $1,200 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,200
FY 2026, utilities included
Payment standard range
$1,080 to $1,320
90% to 110% of FMR
Income to afford 2BR
$48,000
per year, at 30% of income
Rank in Montana
40th of 56
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Valley moves to $1,202. 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 Valley actually rent for?
Search any address in Valley 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 | $899 | $809 to $989 | $35,960 | $17.29/hr | +5.4% |
| 1 bedroom | $915 | $824 to $1,007 | $36,600 | $17.60/hr | +3.3% |
| 2 bedroom | $1,200 | $1,080 to $1,320 | $48,000 | $23.08/hr | +3.2% |
| 3 bedroom | $1,566 | $1,409 to $1,723 | $62,640 | $30.12/hr | +5.9% |
| 4 bedroom | $1,753 | $1,578 to $1,928 | $70,120 | $33.71/hr | +0.3% |
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 | $2,016 | $1,814 to $2,218 |
| 6 bedroom Estimate | $2,279 | $2,051 to $2,507 |
| 7 bedroom Estimate | $2,542 | $2,288 to $2,796 |
| 8 bedroom Estimate | $2,805 | $2,525 to $3,086 |
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 Valley, that runs from $899 for a studio up to $1,753 for four bedrooms, all five rates in the table above.
Because Valley 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, Fort Peck included.
Among Montana's 56 counties, Valley ranks 40th for two-bedroom FMR. That's about 8% below the state median of $1,307 and about 18% above the national median county at $1,018. About 7,552 people live here, 28th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,050 in 59241 (Hinsdale) and $1,440 in 59248 (Nashua), with the 11 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 Valley somewhere between $1,080 and $1,320. 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.
$1,200 a month is affordable, by HUD's 30% rule, on an income of roughly $48,000 a year. Put another way, $23 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% ($1,080) | HAP at 100% ($1,200) | HAP at 110% ($1,320) |
|---|---|---|---|---|
| $2,500 | $750 | $330 | $450 | $570 |
| $4,000 | $1,200 | $0 | $0 | $120 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($1,163) to FY 2026 ($1,200). Since FY 2020 it's up 49% in total, about 6.9% 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 | $554 | $610 | $803 | $1,001 | $1,088 | — |
| FY 2021 | $561 | $608 | $801 | $996 | $1,086 | -0.2% |
| FY 2022 | $535 | $575 | $757 | $999 | $1,027 | -5.5% |
| FY 2023 | $596 | $628 | $826 | $1,120 | $1,203 | +9.1% |
| FY 2024 | $658 | $689 | $905 | $1,170 | $1,373 | +9.6% |
| FY 2025 | $853 | $886 | $1,163 | $1,479 | $1,747 | +28.5% |
| FY 2026 | $899 | $915 | $1,200 | $1,566 | $1,753 | +3.2% |
| FY 2027 | $919 | $1,023 | $1,202 | $1,664 | $1,844 | +0.2% |
Nearby counties
Questions people ask
$1,200 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $899 for a studio, $915 for one bedroom, $1,566 for three and $1,753 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 Valley actually go for?
HUD's number is one input. Search any address in Valley for a rent estimate built from nearby comps. 3 free searches, no card.
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