FY2027 Small Area FMR · Red Lodge, MT

ZIP 59068 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 59068 (Red Lodge, MT) is $1,280 a month, up 3.2% from FY2026. That is 11% below the Billings, MT area-wide FMR of $1,432.

2-bedroom SAFMR$1,280per month ▲ 3.2%

Area-wide 2 BR FMR$1,432Billings, MT

Rank in the area22ndof 31 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,152

2 BR Small Area FMR$1,280

110% of SAFMR$1,408

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$920■ 0.0%

1 BR$1,000▲ 4.2%

2 BR$1,280▲ 3.2%

3 BR$1,760▲ 3.5%

4 BR$2,000▲ 4.2%

FY2027 FY2026

Where 59068 sits in the Billings, MT area

Of the 31 ZIP codes HUD lists for the area, 59068 has the 22nd highest two-bedroom Small Area FMR. Billings, MT is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,432 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,280 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$920	$828 – $1,012	$1,003	$920
1 bedroom	$1,000	$900 – $1,100	$1,132	$960
2 bedrooms	$1,280	$1,152 – $1,408	$1,432	$1,240
3 bedrooms	$1,760	$1,584 – $1,936	$1,983	$1,700
4 bedrooms	$2,000	$1,800 – $2,200	$2,261	$1,920

A household renting a two-bedroom home at the Small Area FMR of $1,280 needs about $51,200 a year to keep housing costs at 30% of income. The area median family income is $113,000 and the 80% low-income limit for four people is $85,450. ZIP code 59068 lies mainly in Carbon County. See the Billings, MT metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
59071	Roscoe	11.5 mi	$1,280
59028	Fishtail	16.7 mi	$1,480
59061	Nye	20.3 mi	$1,550
59081	Silver Gate	21.0 mi	$1,770
59007	Bearcreek	21.8 mi	$1,280
59008	Belfry	23.0 mi	$1,350

Questions

What is the Fair Market Rent for ZIP code 59068?

HUD's FY2027 Small Area Fair Market Rents for 59068 are $920 (studio), $1,000 (1 BR), $1,280 (2 BR), $1,760 (3 BR) and $2,000 (4 BR) a month.

What is the Section 8 payment standard in 59068?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 59068 that range is $1,152 to $1,408 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 59068?

The FY2026 income limits of the Billings, MT area apply: median family income $113,000, low-income (80%) limit $85,450 for a family of four.