Cost of Living in Drummond, MT

With a cost of living index of 68, Drummond, MT is one of the most affordable cities in the country. Living here is 32% cheaper than the national average and 20% below the Montana state average of 89. Drummond is a small community of 255 residents.

Housing costs are the biggest factor in Drummond's cost of living. The median monthly rent is $608 (54% below the US median of $1,319), and the median home value sits at $210,000 (31% below the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Drummond is $44,375, which is 41% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Drummond. The area sees an average annual temperature of 43°F, with summers averaging 62°F and winters around 24°F. Annual rainfall totals 12.1 inches spread over roughly 103 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.