Cost of Living in Three Forks, MT

With a cost of living index of 104, Three Forks, MT is somewhat more expensive than average. Living here is 4% more expensive than the national average and 16% above the Montana state average of 89. Three Forks is a small community of 2,034 residents.

Housing costs are the biggest factor in Three Forks's cost of living. The median monthly rent is $1,263 (4% below the US median of $1,319), and the median home value sits at $382,400 (25% above the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Three Forks is $80,394, which is 7% higher than the national median of $75,149. Residents spend roughly 19% 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 Three Forks. 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.