FMR is below market; voucher rent may lag private rents.
0.83
1 BR
1 BR
0.78ratio
FMR$1,000
Market$1,280
vs market-$280
FMR is below market; voucher rent may lag private rents.
0.78
2 BR
2 BR
0.91ratio
FMR$1,308
Market$1,430
vs market-$122
FMR is near market; voucher and private rents are aligned.
0.91
3 BR
3 BR
0.94ratio
FMR$1,811
Market$1,920
vs market-$109
FMR is near market; voucher and private rents are aligned.
0.94
4 BR
4 BR
0.89ratio
FMR$1,988
Market$2,230
vs market-$242
FMR is below market; voucher rent may lag private rents.
0.89
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 59402 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 59402 (Malmstrom Afb, MT) is $1,308 a month. That is up 1.9% from $1,284 in FY 2026. Malmstrom Afb is in the Great Falls, MT MSA.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 59402
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$960
$993
+3.4%
$894–$1,092
1BR
$979
$1,000
+2.1%
$900–$1,100
2BR
$1,284
$1,308
+1.9%
$1,177–$1,439
3BR
$1,786
$1,811
+1.4%
$1,630–$1,992
4BR
$2,035
$1,988
−2.3%
$1,789–$2,187
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 59402
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$993
$1,000
$1,308
$1,811
$1,988
FY 2026
$960
$979
$1,284
$1,786
$2,035
FY 2025
$903
$948
$1,244
$1,743
$1,977
FY 2024
$708
$745
$979
$1,380
$1,560
FY 2023
$666
$701
$914
$1,292
$1,446
Questions about ZIP 59402 rents
How much will Section 8 pay for a two-bedroom in ZIP 59402?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,308, that basic range is $1,177 to $1,439 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is ZIP 59402 in?
ZIP 59402 is in the Great Falls, MT MSA. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 59402 for FY 2027?
The two-bedroom FMR rose 1.9%, from $1,284 in FY 2026 to $1,308 in FY 2027. Since FY 2023 it has risen 43.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Fair Market Rents. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set