Gallatin County, MT: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$2,1092-bedroom FMR, FY2027

$1,6121-bedroom FMR, FY2027

$104,15080% income limit, family of 4 (FY2026)

$130,200Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Gallatin County is $2,109 a month, down 2.1% from $2,154 in FY2026. Gallatin County belongs to the Bozeman, MT MSA FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Gallatin County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,469	$1,485	−1.1%	$1,323 – $1,615
1 bedroom	$1,612	$1,642	−1.8%	$1,451 – $1,773
2 bedrooms	$2,109	$2,154	−2.1%	$1,899 – $2,319
3 bedrooms	$2,920	$2,996	−2.5%	$2,628 – $3,212
4 bedrooms	$3,487	$3,537	−1.4%	$3,139 – $3,835

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Gallatin County that is typically $1,899 to $2,319 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$68,740median income of renter households

$1,694Median gross rent, all units

30%Rent-to-income ratio (median rent ÷ median renter income)

48%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $68,740 can afford about $1,719 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $2,109 is $391 (22.7%) more than that. To rent a two-bedroom at the FMR, a household needs $84,360 a year under the 30% rule, or $75,924 under the common landlord rule that income must be three times the rent.

Gallatin County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,694 ±$60
Median income of renter households	$68,740 ±$4,174
Renters paying 30% or more of income (cost-burdened)	47.8% ±4.0
Renters paying 50% or more (severely cost-burdened)	24.0% ±2.6
Renter households (where the share can be computed)	18,865

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$1,074	$1,694	+57.7%
Median renter household income	$41,866	$68,740	+64.2%
Renters paying 30%+ of income	50.0%	47.8%	−2.2 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $1,940 to $2,380 depending on the ZIP code.

All 14 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
59086	$1,340	$1,480	$1,940	$2,700	$3,190
59714	$1,430	$1,570	$2,050	$2,840	$3,390
59715	$1,340	$1,480	$1,940	$2,700	$3,190
59716	$1,580	$1,710	$2,230	$3,080	$3,690
59718	$1,660	$1,820	$2,380	$3,300	$3,940
59719	$1,470	$1,610	$2,110	$2,920	$3,490
59729	$1,410	$1,520	$1,980	$2,740	$3,280
59730	$1,570	$1,720	$2,250	$3,120	$3,720
59741	$1,490	$1,640	$2,140	$2,960	$3,540
59752	$1,340	$1,510	$1,940	$2,700	$3,190
59758	$1,340	$1,480	$1,940	$2,700	$3,190
59760	$1,340	$1,480	$1,940	$2,700	$3,190
59771	$1,470	$1,610	$2,110	$2,920	$3,490
59772	$1,470	$1,610	$2,110	$2,920	$3,490

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Gallatin County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $130,200 (FY2025: $120,700, +7.9%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$27,350 +9.4%	$31,250 +9.3%	$35,150 +9.3%	$39,050 +9.4%	$42,200 +9.3%	$45,300 +5.0%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$45,600 +9.5%	$52,100 +9.5%	$58,600 +9.4%	$65,100 +9.4%	$70,350 +9.4%	$75,550 +9.4%	$80,750 +9.4%	$85,950 +9.4%
Low income (80%)	$72,950 +9.5%	$83,350 +9.4%	$93,750 +9.4%	$104,150 +9.4%	$112,500 +9.4%	$120,850 +9.4%	$129,150 +9.4%	$137,500 +9.4%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.