Low Income Apartments and Affordable Housing For Rent in Madison County, MT

Discover affordable housing in Madison County where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Shermont Manor

220 Ruby Rd, Sheridan, Montana 59749

Valley Housing and the Meadows

400 Hugel St, Ennis, Montana 59729

calendar_today Opened: Apr 6
Open Until Further Notice

Reported On February 23rd, 2024 by Madison Shannahan

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison County, Montana
$19.38/hour
$15.38 (+384%) more than Montana minimum wage and $12.13 (+167%) more than the Federal minimum wage.
Learn More About Madison County, Montana Affordable Housing ↓

What HUD offices serve Madison County, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Madison County, Montana.

Go to the Montana Public Housing and Low-Income Apartments Waiting Lists page for openings near Madison County.

How many renters live in Madison County, Montana?

The County of Madison County has 8,742 people living in 3,559 households.

There are 1,921 renters living in 797 renter households in this County. Renters make up 21.97 percent of the population living in Madison County.

What is the rental market like in Madison County, Montana?

There are an estimated 6,424 housing units in the Madison County area. Of these, 965 units are rental homes, making up 15 percent of the housing market. For every renter household in Madison County, Montana, there are 1 rental units.

What is the vacancy rate for rentals in Madison County?

The rental vacancy rate in Madison County is 17 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Madison County for each bedroom size?

Occupied Rental Units by Size in Madison County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
22 111 260 250 119
Occupied Rental Units by Size in Madison County

A large number of apartments in Madison County 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 Madison County are overburdened by housing costs?

Among renter households in this market, 25 percent have housing cost burden. Further, 9 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 Madison County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $777 to $1,611. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $777
One BR $795
Two BR $1,023
Three BR $1,237
Four BR $1,611
2024 Fair Market Rents in Madison County, Montana

How many units are rented at Fair Market Rent (FMR) in Madison County?

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 0 100 percent
One BR 24 22 percent
Two BR 102 39 percent
Rental Units Below FMR in Madison County, Montana

How many affordable rental units are in Madison County?

There are a variety of federal affordable housing programs serving households in Madison County, Montana including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 36
USDA Section 515 Rural Rental Housing 33
Tracked Units by Federal Program in Madison County, Montana

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Madison County, Montana

Madison County features 33 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 Madison County, Montana

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison County.

Housing Choice Vouchers in Madison County, Montana

On average, Section 8 Housing Choice vouchers pay Madison County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Madison County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison County, Montana for a two-bedroom apartment is between $921 and $1,125.

Sourced from federal housing data and AffordableHousingOnline.com research.