The Montana Department of Commerce is conducting a statewide Fair Market Rent Reevaluation Survey to help us understand the actual amount of housing assistance low-income Montanans need to afford housing.
The FMR Survey will be used to update estimated rental costs for a specific area — in this case, the entire state of Montana. It will accurately reflect current local market conditions and allow housing assistance programs like those here at Commerce to provide appropriate rental subsidies to low-income individuals. This could potentially adjust the maximum rent amount that can be paid based on the latest housing market data here in Montana.
Essentially, the FMR aims to strike a balance between affordability for recipients and reasonable compensation for landlords participating in housing assistance programs.
Since housing costs have increased over the last few years, this reevaluation will ensure that the FMR aligns with current rent prices in any given area, preventing outdated information from impacting our housing assistance programs.
We hired Econometrica, Inc. and M. Davis and Company, Inc., to conduct this survey. If you have any questions, please call us at 406-841-2840 or contact Econometrica, Inc. by email at mmcgilvray@econometricainc.com.
If you received a survey, we urge you to complete it no later than Dec. 15, 2024.
Wolf Point
