Cost of Living in Philipsburg, MT

With a cost of living index of 84, Philipsburg, MT is a very affordable place to live. Living here is 16% cheaper than the national average and 5% below the Montana state average of 89. Philipsburg is a small community of 1,012 residents.

Housing costs are the biggest factor in Philipsburg's cost of living. The median monthly rent is $871 (34% below the US median of $1,319), and the median home value sits at $304,200 (0% below the national median of $304,900). At current prices, the median home costs roughly 7.6x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Philipsburg is $40,096, which is 47% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Philipsburg. 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.