What HUD offices serve Big Timber, Montana?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Montana Public Housing and Low-Income Apartments Waiting Lists page for openings near Big Timber.
How many renters live in Big Timber, Montana?
The City of Big Timber has 1,702 people living in 675 households.
There are 526 renters living in 198 renter households in this City. Renters make up 30.9 percent of the population living in Big Timber.
What is the rental market like in Big Timber, Montana?
There are an estimated 728 housing units in the Big Timber area. Of these, 207 units are rental homes, making up 28 percent of the housing market. For every renter household in Big Timber, Montana, there are 1 rental units.
What is the vacancy rate for rentals in Big Timber?
The rental vacancy rate in Big Timber is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Big Timber for each bedroom size?
Occupied Rental Units by Size in Big Timber
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 15 | 19 | 116 | 34 | 8 |
Occupied Rental Units by Size in Big Timber
A large number of apartments in Big Timber have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Big Timber are overburdened by housing costs?
Among renter households in this market, 28 percent have housing cost burden. Further, 15 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Big Timber
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $658 to $1,425. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $658 |
| One BR | $721 |
| Two BR | $905 |
| Three BR | $1,275 |
| Four BR | $1,425 |
2024 Fair Market Rents in Big Timber, Montana
How many units are rented at Fair Market Rent (FMR) in Big Timber?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 10 | 67 percent |
| One BR | 19 | 100 percent |
| Two BR | 89 | 77 percent |
Rental Units Below FMR in Big Timber, Montana
How many affordable rental units are in Big Timber?
There are a variety of federal affordable housing programs serving households in Big Timber, Montana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| USDA Section 515 Rural Rental Housing | 8 |
Tracked Units by Federal Program in Big Timber, Montana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Big Timber, Montana
Big Timber features 8 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Big Timber, Montana
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Big Timber.
Housing Choice Vouchers in Big Timber, Montana
On average, Section 8 Housing Choice vouchers pay Big Timber landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Big Timber.
The maximum amount a voucher would pay on behalf of a low-income tenant in Big Timber, Montana for a two-bedroom apartment is between $815 and $996.
Sourced from federal housing data and AffordableHousingOnline.com research.
