The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Billings, MT 59108's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 59108 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $756 to a high of $924, with an average of $840.
One-bedroom: One-bedroom rental prices vary, with a minimum of $792, a maximum of $968, and an average of $880.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,035, peaking at a maximum of $1,265, and averaging at $1,150.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $1,431, a maximum of $1,749, and an average of $1,590.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $1,602 to a maximum of $1,958, with an average of $1,780.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Billings, MT 59108 Low Rent (90%) $756 $792 $1,035 $1,431 $1,602
Average Rent $840 $880 $1,150 $1,590 $1,780
High Rent(110%) $924 $968 $1,265 $1,749 $1,958
2023 Billings, MT 59108 Low Rent (90%) $675 $729 $954 $1,314 $1,485
Average Rent $750 $810 $1,060 $1,460 $1,650
High Rent (110%) $825 $891 $1,166 $1,606 $1,815
2022 Billings, MT 59108 Low Rent (90%) $585 $657 $864 $1,179 $1,386
Average Rent $650 $730 $960 $1,310 $1,540
High Rent(110%) $715 $803 $1,056 $1,441 $1,694
2021 Billings, MT 59108 Low Rent (90%) $567 $657 $864 $1,197 $1,422
Average Rent $630 $730 $960 $1,330 $1,580
High Rent (110%) $693 $803 $1,056 $1,463 $1,738
2020 Billings, MT 59108 Low Rent (90%) $522 $612 $801 $1,125 $1,368
Average Rent $580 $680 $890 $1,250 $1,520
High Rent(110%) $638 $748 $979 $1,375 $1,672
2019 Billings, MT 59108 Low Rent (90%) $522 $612 $810 $1,134 $1,395
Average Rent $580 $680 $900 $1,260 $1,550
High Rent (110%) $638 $748 $990 $1,386 $1,705


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