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Cost of living in Montana

Everyday prices in Montana run 5.4% below the US average, the 22nd lowest of 51 states and DC.

By Sol Lakein. Updated November 2026.

Montana next to New York and the US

Longer bar = costs more.1,4,2,3
MontanaUnited StatesNew York metro

How affordable is Montana?

Rent and home prices next to what households earn.6
$86,770
Typical household incomeA year · 25th highest of 51
18%
Of income goes to rentA year of 2-bed rent ($1,281/mo) against median income ($86,770). 13th lowest of 51.
7.3
Years of income to buy a home$635,000 median listing against $86,770 income. 50th lowest of 50.

Are people moving to Montana?

6,348 more people moved to Montana from other states than left between July 2024 and July 2025 (Census Bureau estimates).

Where Americans are moving5

Montana next to its neighbors

The states that border Montana, on the same measures. The number is each state's national rank on everyday prices.1,4,2
  1. 6South Dakota11% cheaper than average
    2-bed rent
    $1,148
    Typical home
    $375,000
    Net moves
    +2,169
  2. 8North Dakota11% cheaper than average
    2-bed rent
    $1,076
    Typical home
    $370,700
    Net moves
    +512
  3. 16Wyoming7% cheaper than average
    2-bed rent
    $1,035
    Typical home
    $496,500
    Net moves
    +1,474
  4. 22MontanaThis state5% cheaper than average
    2-bed rent
    $1,281
    Typical home
    $635,000
    Net moves
    +6,348
  5. 23Idaho5% cheaper than average
    2-bed rent
    $1,438
    Typical home
    $593,000
    Net moves
    +19,915

Montana by the numbers

Every figure on this page, as tables

Montana next to New York and the US

PlacePrice levelHousingTypical homeMonthly payment2-bedroom rent
Montana94.684.6$635,000$3,490$1,281
United States100.0100.0$419,250$2,304$1,563
New York metro112.6148.6$742,000$4,078$1,997

Montana next to its neighbors

StatePrice level2-bedroom rentTypical homeNet moves from other states
Montana94.6$1,281$635,000+6,348
Idaho95.5$1,438$593,000+19,915
North Dakota89.0$1,076$370,700+512
South Dakota88.6$1,148$375,000+2,169
Wyoming92.7$1,035$496,500+1,474

Net moves from other states

Year (July to July)Net moves from other states
2019-20+8,960
2020-21+20,693
2021-22+15,474
2022-23+9,017
2023-24+5,263
2024-25+6,348

States with a similar cost of living to Montana

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Montana cost of living: questions people ask

What is the cost of living in Montana?

Everyday prices in Montana run 5.4% below the US average, the 22nd lowest of 51 states and DC (BEA, 2024). Housing costs, rent included, index at 84.6 against a US average of 100. The median listed home is $635,000 (Realtor.com, September 2026), about $3,490 a month in principal and interest. The median 2-bedroom rent is $1,281 a month, utilities included (Census, 2025). A $150,000 salary in New York buys the same as $126,123 in Montana.

Is Montana cheap or expensive to live in?

Cheaper than average. Montana's regional price parity is 94.6, so the same basket of goods, services and rent costs 5.4% less than the US average (BEA, 2024).

How much does a house cost in Montana?

The median listed home in Montana is $635,000 as of September 2026 (Realtor.com via FRED), against $419,250 nationally. That ranks 46th lowest of 50. With 20% down at 7.32%, principal and interest run about $3,490 a month.

How much is rent in Montana?

The median gross rent for a 2-bedroom in Montana is $1,281 a month, including utilities the renter pays, against $1,563 for the US (Census American Community Survey, 2025).

What salary in Montana equals $150,000 in New York?

About $126,123, using BEA regional price parities for Montana (94.6) and the New York metro (112.6), 2024.

Are people moving to Montana?

6,348 more people moved to Montana from other states than left between July 2024 and July 2025 (Census Bureau estimates).

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Notes on the numbers
  1. 1Everyday prices, housing costs and price levels: BEA regional price parities via FRED, 2024, where the US average is 100. In ranked lists, 1 is the cheapest.
  2. 2Homes: the typical home is the median listing price, Realtor.com via FRED, September 2026.
  3. 3Mortgage: Principal and interest on the median listed home with 20% down, 30-year fixed at 7.32% (Freddie Mac 30-year fixed average, week of October 22, 2026). Excludes taxes, insurance and HOA.
  4. 4Rent: Census ACS 2025 1-year, median gross rent for 2-bedroom units, including utilities.
  5. 5Net moves: US Census Bureau population estimates, net domestic migration, July to July.
  6. 6Affordability: our arithmetic on Census median gross rent (2025), Census median household income (2025) and Realtor.com median listing price (September 2026). Rank 1 is the most affordable.
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