Cost of Living in Montana

Montana has a cost of living index of 89, making it 11% less expensive than the national average. The statewide median household income is $65,734 (13% below the US median of $75,149). Across 342 cities tracked in Montana, costs vary widely depending on location, proximity to metro areas, and local housing markets.

Housing drives most of the variation. The average median rent across Montana cities is $867/mo (34% below the national median of $1,319), and the average median home value is $285,135 (6% below the national figure of $304,900). There is a 64-point spread between the most affordable city, Anaconda-Deer Lodge County (index 69), and the most expensive, Bozeman (index 134) — a large gap that shows significant regional cost differences.

When evaluating Montana, it helps to look beyond the state average. Individual city costs can deviate significantly — use the map and rankings below to compare specific locations.

The largest cities in Montana by population are Billings (index 90, pop. 118,321), Missoula (index 102, pop. 75,600), Great Falls (index 78, pop. 60,412), Bozeman (index 134, pop. 55,042), and Butte-Silver Bow (balance) (index 75, pop. 34,929). Cost of living varies considerably even among these major population centers, highlighting the importance of comparing individual cities rather than relying on the state average alone.

Data: US Census Bureau (ACS 2023), Zillow, HUD, BEA Regional Price Parities. Updated monthly.