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Cost of Living in Montana

Is it better to rent or buy in Montana? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$75,152
$1,143/mo

Median in area: $1,143

$401,265

Median in area: $401,265

$80,253

If you Rent

🔑
$1,349 /mo
Base Rent$1,143
Est. Utilities$206
% of Income21.5%
Pre-tax Residual$4,914

If you Buy

🏠
$2,666 /mo
P&I (6.815%)$2,096
Taxes & Ins$364
Est. Utilities$206
% of Income42.6%
Pre-tax Residual$3,597

Cost of Living FAQs

Is it cheaper to rent or buy in Montana?›

Based on median housing data, renting is currently more affordable on a monthly basis in Montana. The estimated all-in monthly cost for renting is $1,349, while owning a median-priced home with a 20% down payment is roughly $2,666 per month (a difference of $1,317).

How much do utilities cost in Montana?›

The average monthly utility cost (electricity and natural gas) for a typical home in Montana is approximately $206. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Montana?›

To comfortably afford the median rent and utilities in Montana without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,960 per year.