Fair Market Rents: Madison County, MT (FY2026)
HUD's FY2026 Fair Market Rents for Madison County set the ceiling for what Housing Choice Vouchers pay locally. FMR equals the estimated 40th-percentile gross rent — shelter plus utilities — for modest, non-luxury units.
| Unit size | FY2026 FMR | MT median* |
|---|---|---|
| Studio (0-BR) | $1,154/mo | $976 (+18%) |
| 1 Bedroom | $1,202/mo | $1,070 (+12%) |
| 2 Bedrooms | $1,540/mo | $1,307 (+18%) |
| 3 Bedrooms | $2,073/mo | $1,724 (+20%) |
| 4+ Bedrooms | $2,583/mo | $1,990 (+30%) |
*Median across all FMR-publishing counties in MT. Source: HUD FY2026 FMR schedule.
Using FMR as a voucher holder in Madison County
- Your housing authority sets payment standards per bedroom, typically 90–110% of these figures. How payment standards work →
- You may rent above the standard by paying the difference, subject to a 40%-of-income cap at lease-up.
- In high-cost pockets, ask about exception standards or Small Area FMRs by ZIP code.
Subsidized housing in Madison County
We track 2 assisted properties countywide:
| City | Properties | Assisted units |
|---|---|---|
| Big Sky | 3 | 61 |