Apply to Billings Apartment Waiting Lists
Acme Hotel Apartments
Fraser Towers
Sage Tower Apartments
Prairie Towers Apartments
South Forty Apartments
There are 516 low-income apartments in Billings that offer reduced rents to eligible households. Low-income rents in Billings, Montana can range from $25 to $835 depending on the number of bedrooms.
Rental assistance programs support 2,220 low-income homes in Billings where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $319 towards rent each month.
Affordable rent data for some communities last confirmed on June 25th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Billings, 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.
| Housing Authority | Programs |
|---|---|
| Housing Authority of Billings | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Montana Department of Commerce | Section 8 Housing Choice Voucher (HCV) |
Billings, Montana Affordable Housing Data
Income Based Apartments in Billings, Montana
Billings features 2,220 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 Billings, Montana
There are 516 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Billings.
Housing Choice Vouchers in Billings, Montana
On average, Section 8 Housing Choice vouchers pay Billings landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Billings.
The maximum amount a voucher would pay on behalf of a low-income tenant in Billings, Montana for a two-bedroom apartment is between $1,033 and $1,263.
2024 Billings, Montana Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Billings, Montana Fair Market Rent | $837 | $874 | $1,148 | $1,583 | $1,778 |
| Billings, Montana Payment Standard Range | $753 to $921 | $787 to $961 | $1,033 to $1,263 | $1,425 to $1,741 | $1,600 to $1,956 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Billings, MT Affordable Housing Snapshot
| Total Affordable Apartment Properties | 65 |
|---|---|
| Total Low Income Apartments | 2,768 |
| Total Housing Units with Rental Assistance | 2,220 |
| Percentage of Housing Units Occupied By Renters | 37.12% |
| Average Renter Household Size | 2.26 |
| Average Household Size | 2.38 |
| Median Household Income | $51,012 ±$1,342 |
| Median Rent | $762 ±$22 |
| Percentage Of Renters Overburdened | 45.46% ± 3.4pp |
| Total Population | 108,134 |
Population and Household Demographics
Billings is a city in Yellowstone County, Montana with a population of 108,134. There are 44,092 households in the city with an average household size of 2.38 persons. 37.12% of households in Billings are renters.
Income and Rent Overburden in Billings
The median gross income for households in Billings is $51,012 a year, or $4,251 a month. The median rent for the city is $762 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Billings, a household making less than $2,540 a month would be considered overburdened when renting an apartment at or above the median rent. 45.46% of households who rent are overburdened in Billings.
Area Median Income In Billings
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Billings, the AMI is calculated from all households within Yellowstone County.
In Billings, HUD calculates the Area Median Income for a family of four as $95,000
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Billings
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Billings
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Billings AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,850 | $21,550 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Billings AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,400 | $35,850 | $40,350 | $44,800 | $48,400 | $52,000 | $55,600 | $59,150 |
| 80% AMI Income Limits Renters earning up to 80% of the Billings AMI may qualify for rental assistance programs that target Low Income households. |
$50,200 | $57,400 | $64,550 | $71,700 | $77,450 | $83,200 | $88,950 | $94,650 |
© 2002-2024 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.