Logo Billings Fair Market Rent FY 2024 Billings, MT HUD Metro FMR Area Rental Data

Fair Market Rent Prices in Billings, MT :
$837 $874 $1,148 $1,583 $1,778
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Billings are high compared to the national average. This FMR area is more expensive than 82% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Billings is $1,148 per month.

The previous year, rent for a two-bedroom home was $1,054 per month. This is a 8.92% increase year-over-year.

This FMR rate applies to Bearcreek, MT, Belfry, MT, Boyd, MT, Roscoe, MT, Edgar, MT, Fromberg, MT, Roberts, MT, Bridger, MT, Absarokee, MT, Joliet, MT and other cities within the region. The Metro Code or CBSA code for this region is METRO13740M13740.

Additionally, This Fair Market Rent (FMR) area Billings, MT HUD Metro FMR Area spans one county or city in Montana which is listed in the table below. Estimated population of Billings, MT HUD Metro FMR Area FMR area is 10,689 people based on latest Census data.

Compared to the rest of Montana, the Billings FMR area is more expensive than 96% of the state.

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Billings. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Billings

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 891
1-BR 1-Bedroom $ 930
2-BR 2-Bedroom $ 1222
3-BR 3-Bedroom $ 1685
4-BR 4-Bedroom $ 1893
Change Year:

There is just one county (listed below) within the Billings, MT HUD Metro FMR Area FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Billings.

County / Region Est. Population
Billings, MT Metro 10,689
Zip Codes in Billings, MT HUD Metro FMR Area

There are 13 unique zip codes in this Fair Market Rent (FMR) area:

59001, 59007, 59008, 59013, 59014, 59019, 59026, 59029, 59041, 59044, 59068, 59070 and 59071

Lookup Fair Market Rent by Zip Code