Cost of Living in Forsyth, MT

With a cost of living index of 70, Forsyth, MT is one of the most affordable cities in the country. Living here is 30% cheaper than the national average and 18% below the Montana state average of 89. Forsyth is a small community of 1,682 residents.

Housing costs are the biggest factor in Forsyth's cost of living. The median monthly rent is $743 (44% below the US median of $1,319), and the median home value sits at $185,100 (39% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Forsyth is $58,375, which is 22% lower than the national median of $75,149. Residents spend roughly 15% 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 Forsyth. The area sees an average annual temperature of 46.2°F, with summers averaging 71°F and winters around 22°F. Annual rainfall totals 12.9 inches spread over roughly 87 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.