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These days, finding an affordable place to live in the Montana area can be challenging. Home prices in Montana are now at a median cost of $409,886, lower than the the United States average of $419,293.
The average cost of rent is $1,189/mo in Montana, primarily driven by the current value of real estate in the Montana area. In Montana, 30.83% of households rent, and 45.57% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Montana is $6,494 per month. Households that rent pay about 18.31% of their income on rent here. Montana’s most expensive areas are in the southern regions, while the cheapest areas are in the northeastern parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- Connecticut: equally priced homes
- California: higher priced homes
- Illinois: less expensive homes
- Hawaii: higher priced homes
- Georgia: less expensive homes
- Florida: equally priced homes
- District of Columbia: higher priced homes
- New Hampshire: equally priced homes
- New York: higher priced homes
- North Carolina: less expensive homes
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