Cost of Living in Manhattan, MT

With a cost of living index of 124, Manhattan, MT is a notably expensive place to live. Living here is 24% more expensive than the national average and 35% above the Montana state average of 89. Manhattan is a small community of 2,149 residents.

Housing costs are the biggest factor in Manhattan's cost of living. The median monthly rent is $1,700 (29% above the US median of $1,319), and the median home value sits at $460,400 (51% above the national median of $304,900). At current prices, the median home costs roughly 6.6x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Manhattan is $69,671, which is 7% lower than the national median of $75,149. Residents spend roughly 29% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Manhattan. The area sees an average annual temperature of 43°F, with summers averaging 64°F and winters around 22°F. Annual rainfall totals 13.4 inches spread over roughly 107 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Bozeman, MT (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.