Cost of Living in Colstrip, MT

With a cost of living index of 68, Colstrip, MT is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 21% below the Montana state average of 89. Colstrip is a small community of 2,156 residents.

Housing costs are the biggest factor in Colstrip's cost of living. The median monthly rent is $632 (52% below the US median of $1,319), and the median home value sits at $193,700 (36% below the national median of $304,900). At current prices, the median home costs roughly 2.3x the median household income — well within traditional affordability guidelines.

The median household income in Colstrip is $86,000, which is 14% higher than the national median of $75,149. Residents spend roughly 9% 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.