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

Discover affordable housing in Yellowstone County where there are 40+ 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.

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 Yellowstone County, Montana
$21.74/hour
$17.74 (+444%) more than Montana minimum wage and $14.49 (+200%) more than the Federal minimum wage.
Learn More About Yellowstone County, Montana Affordable Housing ↓

What HUD offices serve Yellowstone 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 Yellowstone County, Montana.

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

How many renters live in Yellowstone County, Montana?

The County of Yellowstone County has 169,852 people living in 70,060 households.

There are 38,211 renters living in 20,291 renter households in this County. Renters make up 22.5 percent of the population living in Yellowstone County.

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

There are an estimated 72,252 housing units in the Yellowstone County area. Of these, 22,182 units are rental homes, making up 31 percent of the housing market. For every renter household in Yellowstone County, Montana, there are 1 rental units.

What is the vacancy rate for rentals in Yellowstone County?

The rental vacancy rate in Yellowstone County is 6 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 Yellowstone County for each bedroom size?

Occupied Rental Units by Size in Yellowstone County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
904 5,136 8,402 4,435 1,347
Occupied Rental Units by Size in Yellowstone County

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

Among renter households in this market, 38 percent have housing cost burden. Further, 19 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 Yellowstone County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $837 to $1,778. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $837
One BR $874
Two BR $1,148
Three BR $1,583
Four BR $1,778
2024 Fair Market Rents in Yellowstone County, Montana

How many units are rented at Fair Market Rent (FMR) in Yellowstone 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 435 48 percent
One BR 2,647 52 percent
Two BR 4,911 58 percent
Rental Units Below FMR in Yellowstone County, Montana

How many affordable rental units are in Yellowstone County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 1,107
Public Housing 216
Section 8 Project-Based Rental Assistance 853
Mod Rehab Project-Based Rental Assistance 11
Section 202 Supportive Housing for the Elderly 158
Section 811 Supportive Housing for Persons with Disabilities 24
USDA Section 515 Rural Rental Housing 124
Tracked Units by Federal Program in Yellowstone County, Montana

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

Income Based Apartments in Yellowstone County, Montana

Yellowstone County features 2,325 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 Yellowstone County, Montana

There are 548 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Yellowstone County.

Housing Choice Vouchers in Yellowstone County, Montana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Yellowstone County, Montana for a two-bedroom apartment is between $1,033 and $1,263.

Sourced from federal housing data and AffordableHousingOnline.com research.