Cost of Living in Medicine Lake, MT

With a cost of living index of 55, Medicine Lake, MT is one of the most affordable cities in the country. Living here is 45% cheaper than the national average and 33% below the Montana state average of 89. Medicine Lake is a small community of 190 residents.

Housing costs are the biggest factor in Medicine Lake's cost of living. The median monthly rent is $492 (63% below the US median of $1,319), and the median home value sits at $95,000 (69% 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 Medicine Lake is $41,000, which is 45% lower than the national median of $75,149. Residents spend roughly 14% 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 Medicine Lake. The area sees an average annual temperature of 40.5°F, with summers averaging 66°F and winters around 14°F. Annual rainfall totals 14.2 inches spread over roughly 105 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.