Madison 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).

$1,5432-bedroom FMR, FY2027

$1,2111-bedroom FMR, FY2027

$75,30080% income limit, family of 4 (FY2026)

$94,100Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Madison County is $1,543 a month, up 0.2% from $1,540 in FY2026. Madison County belongs to the Madison County, MT FMR area (non-metro county), 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 Madison County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,179	$1,154	+2.2%	$1,062 – $1,296
1 bedroom	$1,211	$1,202	+0.7%	$1,090 – $1,332
2 bedrooms	$1,543	$1,540	+0.2%	$1,389 – $1,697
3 bedrooms	$2,115	$2,073	+2.0%	$1,904 – $2,326
4 bedrooms	$2,579	$2,583	−0.2%	$2,322 – $2,836

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 Madison County that is typically $1,389 to $1,697 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?

$67,941median income of renter households

$1,000Median gross rent, all units

18%Rent-to-income ratio (median rent ÷ median renter income)

41%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $67,941 can afford about $1,699 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,543 is $156 (9.2%) less than that. To rent a two-bedroom at the FMR, a household needs $61,720 a year under the 30% rule, or $55,548 under the common landlord rule that income must be three times the rent.

Madison County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,000 ±$277
Median income of renter households	$67,941 ±$12,472
Renters paying 30% or more of income (cost-burdened)	40.8% ±7.3
Renters paying 50% or more (severely cost-burdened)	22.8% ±8.8
Renter households (where the share can be computed)	478

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$834	$1,000	+19.9%
Median renter household income	$46,848	$67,941	+45.0%
Renters paying 30%+ of income	35.3%	40.8%	+5.5 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.

HUD income limits for Madison County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $94,100 (FY2025: $86,400, +8.9%). 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%)	$19,800 +7.9%	$22,600 +6.9%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$32,950 +7.7%	$37,650 +7.7%	$42,350 +7.8%	$47,050 +7.8%	$50,850 +7.8%	$54,600 +7.8%	$58,350 +7.8%	$62,150 +7.8%
Low income (80%)	$52,750 +7.9%	$60,250 +7.8%	$67,800 +7.8%	$75,300 +7.8%	$81,350 +7.8%	$87,350 +7.8%	$93,400 +7.8%	$99,400 +7.8%

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.