Living in Montana: Income, Housing, Taxes & Cost of Living (2026)
By Wealthvieu
·
Updated
Table of Contents
Montana at a Glance
| Metric |
Value |
National Rank |
| Population (2024) |
1.1 million |
44th |
| Median household income |
$66,341 |
Below average |
| Median home price |
$430,000 |
Above average |
| Cost of living index |
103 |
Average |
| State income tax |
5.9% flat (new 2024) |
Average |
| Sales tax |
None (1 of 5 states) |
N/A |
| Property tax (effective rate) |
0.74% |
Below average |
Income and Housing
| City/Area |
Median Income |
Median Home Price |
Median Rent (2BR) |
| Bozeman |
$68,000 |
$620,000 |
$1,800 |
| Missoula |
$60,000 |
$510,000 |
$1,500 |
| Billings |
$62,000 |
$340,000 |
$1,200 |
| Great Falls |
$55,000 |
$270,000 |
$1,000 |
| Helena |
$62,000 |
$380,000 |
$1,200 |
| Kalispell (Flathead) |
$58,000 |
$500,000 |
$1,400 |
| Butte |
$50,000 |
$250,000 |
$900 |
Key issue: Bozeman and Missoula home prices are 8-9x local median income — among the worst affordability ratios for small cities in the country.
Affordability Contrast
| Location |
Home Price ÷ Income |
Affordable? |
| Bozeman |
9.1x |
No |
| Missoula |
8.5x |
No |
| Billings |
5.5x |
Borderline |
| Great Falls |
4.9x |
Yes |
| Butte |
5.0x |
Yes |
Montana Pros and Cons
| Financial Pros |
Financial Cons |
| No state sales tax |
Bozeman/Missoula housing wildly unaffordable |
| Low property taxes (0.74%) |
Below-average income |
| Simplified flat income tax (5.9%) |
Limited job market outside energy/ag |
| Low population, outdoor recreation |
Cold winters (heating costs $2K-$4K) |
| Growing remote-work destination |
Grocery prices above average (shipping) |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
