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Metro FMR · CBSA 24500 · HUD FY2026
Great Falls, MT MSA Fair Market Rent
HUD's FY2026 Fair Market Rent for the Great Falls, MT MSA metro area - 2% above the US average.
- $979
- 1-bedroom FMR
- $1,284
- 2-bedroom FMR
- +14.6%
- YoY change
- +2%
- vs US avg
The verdict
A 2-bedroom in the Great Falls, MT MSA area rents at $1,284 under HUD's FY2026 Fair Market Rent - 9% above the US average, lower than 52% of the 387 metro areas HUD tracks.
- #187
- most affordable of 387 US metros (2BR)
- +9%
- vs the US 2-bedroom average
- $51,360
- income to afford it (30% rule)
- +14.6%
- 1BR change, FY2025→2026
Great Falls is the 1st cheapest of 5 HUD-tracked metro areas in MT by 1-bedroom FMR, a state where metro rents vary widely - the priciest metro runs 68% above the cheapest.
FY 2026 HUD Fair Market Rents for the Great Falls, MT MSA metro area. Population: 84,423. Verify with HUD →
What these rents mean for the Great Falls, MT MSA metro
HUD's FY 2026 Fair Market Rent schedule sets the Great Falls, MT MSA Metro Area (CBSA 24500) 1-bedroom at $979, with a studio at $960, 2-bedroom at $1,284, 3-bedroom at $1,786, and 4-bedroom at $2,035. These are the 40th percentile of gross rents, utilities included, excluding telephone, meaning roughly 60% of standard-quality rentals in the metro cost more. Because HUD treats a metropolitan statistical area as a single rent market, every county inside the Great Falls, MT MSA CBSA shares these FMR figures, and local housing authorities use them to set Section 8 Housing Choice Voucher payment standards (typically between 90% and 110% of FMR).
Against the national benchmark, a 1-bedroom in Great Falls, MT MSA is 2% above the US 1-bedroom FMR of $959. Year-over-year the 1-bedroom FMR shifted from $854 in FY 2025 to $979 in FY 2026 - a change of +14.6%, which outpaces typical consumer inflation and signals continued demand pressure. Metro-level FMRs often diverge from the rents listed for any single suburb, so renters should view this as the HUD ceiling, not a street-level market rate.
For affordability, the 30% rule says rent should not exceed 30% of gross household income. At the FY 2026 1-bedroom FMR of $979, that implies a household income of $39,160 per year (about $3,263/month) - a 2-bedroom at $1,284 raises that income floor further. With a metro population of 84,423 and a median household income of $66,203, the gap between FMR and local wages determines how many households qualify as rent-burdened (paying more than 30% of income) or severely burdened (above 50%). Metro FMR also anchors the Small Area FMR program, which sets ZIP-level payment standards in designated metros to expand voucher choice into higher-opportunity neighborhoods.
Where Great Falls sits among every US metro
2-bedroom Fair Market Rent vs. all 387 HUD metro areas
$1,284 higher than 48% of 387 metro areas
Each bar is a $0.2K-wide band; taller bars hold more metro areas. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Department of Housing and Urban Development, Fair Market Rents · FY2026
Fair Market Rents by bedroom (2026)
HUD's FY2026 ceiling for each unit size, with the year-over-year change and how it compares to the US average.
Studio
$960
US avg $893
↑17.9% YoY
+8% vs US
1 Bedroom
$979
US avg $959
↑14.6% YoY
+2% vs US
2 Bedroom
$1,284
US avg $1,175
↑14.5% YoY
+9% vs US
3 Bedroom
$1,786
US avg $1,525
↑13.7% YoY
+17% vs US
4 Bedroom
$2,035
US avg $1,756
↑14.3% YoY
+16% vs US
Year over year, the 1-bedroom moved from $854 in FY2025 to $979 in FY2026 - a change of +14.6%, outpacing typical consumer inflation.
Affordability Snapshot
Based on the standard that rent should not exceed 30% of gross income:
Required annual income for 1 BR
$39,160
$3,263/month gross
Required annual income for 2 BR
$51,360
$4,280/month gross
The local median household income is $66,203 - comfortably above the $51,360 needed to afford a 2-bedroom at FMR, leaving the median household with room under the 30% line.
How Great Falls compares on 1-bedroom rent
1-bedroom FMR vs other MT metro areas
- Bozeman
Bozeman, MT MSA
$1,642 1BR FMR / mo
- Broadwater County
Broadwater County, MT HUD Metro FMR Area
$1,595 1BR FMR / mo
- Billings
Billings, MT HUD Metro FMR Area
$1,109 1BR FMR / mo
- Mineral County
Mineral County, MT HUD Metro FMR Area
$1,083 1BR FMR / mo
- Great Falls
Great Falls, MT MSA
$979 1BR FMR / mo
What this shows Great Falls is highlighted. Bars are FY2026 HUD 1-bedroom Fair Market Rents.
Nearby & Similar Metro Areas
How Great Falls stacks up against other metro areas in the same state, by 1-bedroom Fair Market Rent.
Frequently Asked Questions
What is the average rent in the Great Falls, MT MSA metro area? ▼
The FY 2026 Fair Market Rent for a 1-bedroom in Great Falls, MT MSA is $979 per month. A 2-bedroom is $1,284 and a studio is $960.
How does Great Falls, MT MSA rent compare to the national average? ▼
Rent in the Great Falls, MT MSA metro area is 2% above the national average. A 1-bedroom costs $979 compared to $959 nationally.
What income do I need to afford rent in Great Falls, MT MSA? ▼
Based on the 30% affordability rule, you need an annual income of at least $39,160 ($3,263/month) to afford a 1-bedroom at Fair Market Rent in the Great Falls, MT MSA area.
Is rent going up or down in Great Falls, MT MSA? ▼
The 1-bedroom Fair Market Rent in Great Falls, MT MSA increased by 14.6% from FY 2025 to FY 2026, going from $854 to $979.
How does Fair Market Rent affect Section 8 vouchers in Great Falls, MT MSA? ▼
HUD uses Fair Market Rents to set maximum payment standards for Housing Choice Vouchers (Section 8) in the Great Falls, MT MSA area. The FY 2026 FMR of $979/mo for a 1-bedroom sets the baseline, local housing authorities can set their payment standard between 90% and 110% of FMR.
What does Fair Market Rent mean for the Great Falls, MT MSA area? ▼
Fair Market Rent (FMR) is the 40th percentile rent estimate set by HUD for the Great Falls, MT MSA metro area. It includes rent plus the cost of utilities (except telephone). FMR is used to determine housing assistance payment amounts, set rent ceilings for certain HUD programs, and evaluate housing affordability.
Rental Guides
How Fair Market Rent Works
What FMR means, how HUD calculates it, and why it matters for renters
Section 8 Housing Guide
How Housing Choice Vouchers work, eligibility, and applying
Understanding Rent Burden
The 30% rule, what cost-burdened means, and how to evaluate affordability
Rent vs. Buy Decision
When renting makes more financial sense than buying a home
Explore Great Falls, MT MSA rent data
What this means for renters
Treat the Great Falls area's FY2026 Fair Market Rent as HUD's affordability benchmark, not a street-level market rate.
- Budget to roughly 30% of income: the FY2026 1-bedroom FMR of $979 implies about $39,160/yr to rent without being cost-burdened. Run your numbers
- Compare this metro against others before you commit to an area. Compare metros
- See where it ranks among the metros HUD tracks. View rankings
Metro FMRs are HUD's 40th-percentile benchmark used to set voucher payment standards and often diverge from the rents listed in any single suburb. HUD updates FMRs once a year.
Data as of FY 2026. Source: U.S. Department of Housing and Urban Development (HUD) Fair Market Rents. Population and demographic data from U.S. Census Bureau American Community Survey (ACS).
Fair Market Rents represent the 40th percentile of gross rents for standard quality units in each area. HUD publishes updated FMRs annually.
Read our methodology - how this data is sourced, computed, and verified.
FY 2026 HUD FMR $979/mo · 1BR MT
Update cadence
Annual (FY)
Refreshed within 30 days of HUD release
Source
HUD User
huduser.gov/portal/datasets/fmr.html
Every figure on PlainRent is rendered directly from HUD's published Fair Market Rent records, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of FY 2026.