Cost of Living in Baker, MT

With a cost of living index of 72, Baker, MT is one of the most affordable cities in the country. Living here is 28% cheaper than the national average and 16% below the Montana state average of 89. Baker is a small community of 1,535 residents.

Housing costs are the biggest factor in Baker's cost of living. The median monthly rent is $772 (41% below the US median of $1,319), and the median home value sits at $198,800 (35% below the national median of $304,900). At current prices, the median home costs roughly 2.5x the median household income — well within traditional affordability guidelines.

The median household income in Baker is $78,971, which is 5% higher than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.