The Montana Department of Commerce is reaching out to renters across the state, urging them to participate in an online survey. This initiative aims to persuade the federal government to revise fair market rent rates, potentially aiding low-income renters. Rising rent prices have become a pressing issue, with the state seeking to ensure these rates more accurately reflect Montana’s rental market conditions.
Data collected from the survey will be sent to the U.S. Department of Housing and Urban Development. The goal is to achieve a better representation of the rental landscape in Montana, especially after rents skyrocketed over the last four years. “We are asking for your help with an important study to better understand how inflation, the limited supply of rental housing, increased demand, high cost of labor, increases in property insurance rates and other facts have driven up the cost of housing and impacted rental housing throughout Montana,” stated Cheryl Cohen, Department of Commerce Housing Division Administrator.
The department will utilize survey insights to advocate for improved rental subsidies targeting lower-income households, particularly those with disabilities and seniors on fixed incomes. Depending on the findings, federal rental assistance programs could see adjustments in the maximum rent amounts paid to landlords.
Between 2017 and 2022, Montana’s median house value surged from $209,100 to $305,700, while housing units only increased by about 16,000. By 2022, nearly 30% of homes were valued between $300,000 and $500,000, with 31% of homes being rented, according to Department of Commerce data. Rising residential property taxes have led some renters to shoulder increased costs due to landlords passing these expenses on.
The survey is funded by the Behavioral Health System for Future Generations Commission. Renters will receive a letter with a code to access the survey online, expected to take 10 minutes to complete. All responses are confidential, and the survey will not generate a mailing list. Econometrica, Inc. and M. Davis and Company, Inc. will conduct the survey. For inquiries, contact the Department of Commerce at (406) 841-2840.
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