Average Rent in Madison County, MT↑ Rents rising 45.8% YoY
HUD FY2025 · Official government data · Updated annually · Metro pop. 8,975
Market Overview
Madison County, MT has rental prices ranging from $1,139/month to $2,505/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,147/month — 18% below the national average of $1,400/month. With a median household income of $67,420/year, spending $1,147/month on a 1-bedroom represents 20% of gross income — within the recommended 30% threshold.
How Madison County Compares
With an average 2-bedroom rent of $1,492/month, Madison County ranks #13 most expensive of the 57 cities tracked in Montana — pricier than 92% of all US cities in our data.
The Madison County Rental Market
The Madison County, MT area has a population of about 8,975 and 19% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.
Rent Trends
2-bedroom rents in Madison County, MT have risen by $469/month (45.8%) over the past year, from $1,023 to $1,492. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.
Affordability
To afford a 1-bedroom apartment in Madison County, MT without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $45,880. The local median household income of $67,420 exceeds that threshold by $21,540, making Madison County relatively accessible compared to local wages.
Economy & Jobs
Madison County, MT has an unemployment rate of 4.1%, 0.2 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.
Fair Market Rents
HUD FY2025Is Madison County, MT Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in MTlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| Stillwater County | $877 | $928 | $1,218 | $1,705 | — |
| Billings | $1,013 | $1,062 | $1,373 | $1,888 | — |
| Missoula | $1,121 | $1,339 | $1,604 | $2,248 | — |
| Gallatin County | $1,448 | $1,626 | $2,087 | $2,924 | — |
| Flathead County | $1,202 | $1,249 | $1,639 | $2,184 | — |
| Great Falls | $903 | $948 | $1,244 | $1,743 | — |
Rent or Buy in Madison County?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Madison County data
Buying breaks even after 1 year — worth it if you stay 1+ years.
Living in Madison County
Cost of living, job market, crime rates, and moving cost estimates.
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Frequently Asked Questions
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💵Rent Affordability in Madison CountySalary needed to afford rent here
🗺️All Cities in MTSee how Madison County ranks statewide
⚖️Compare Madison CountySide-by-side rent & cost of living with any city
📋MT Tenant RightsDeposit limits, eviction laws & renters protections