Cost of Living in Park City, MT

With a cost of living index of 83, Park City, MT is a very affordable place to live. Living here is 17% cheaper than the national average and 5% below the Montana state average of 89. Park City is a small community of 934 residents.

Housing costs are the biggest factor in Park City's cost of living. The median monthly rent is $1,091 (17% below the US median of $1,319), and the median home value sits at $228,700 (25% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Park City is $73,750, which is 2% lower than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Park City. The area sees an average annual temperature of 48.2°F, with summers averaging 70°F and winters around 28°F. Annual rainfall totals 14.3 inches spread over roughly 97 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Billings, 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.