Cost of Living in Shelby, MT

With a cost of living index of 73, Shelby, MT is one of the most affordable cities in the country. Living here is 27% cheaper than the national average and 16% below the Montana state average of 89. Shelby is a small community of 3,129 residents.

Housing costs are the biggest factor in Shelby's cost of living. The median monthly rent is $769 (42% below the US median of $1,319), and the median home value sits at $206,000 (32% below the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Shelby is $53,357, which is 29% lower than the national median of $75,149. Residents spend roughly 17% 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 Shelby. The area sees an average annual temperature of 41.8°F, with summers averaging 62°F and winters around 23°F. Annual rainfall totals 10.8 inches spread over roughly 77 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.