The median home price in Montana is $441,925, which has increased by 3.1% since the last year. The Montana housing market has witnessed a 5.9% year-over-year decline in the number of homes listed. However, with a 4-month supply left, the ample inventory is expected to create a better market for home buyers.
Near the Phoenix metropolitan area, the home prices are relatively higher in the Treasure State but as you move in the rural and suburban areas, you can find cheaper options to live in.
4 Reasons to live in Montana 🏙️
- Cheaper Houses: The median home sale price in Montana is ~$422K but you can get houses between $155K and $300K in cities like Havre, Butte, and Sidney.
- Tax Benefits: For the 2023 tax year, Montana’s standard deduction amounts are $13,850 for a single taxpayer.
- Affordable Healthcare: Healthcare in cities that are listed below is up to 8% lower than the state average. In some cities, the average healthcare is even cheaper than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than the state average and national average. You can save up to $1400 per month in rent.
Cheapest Places to Live in Montana in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Miles City | $41,220 | $255,237 | 8,441 | 4.3% | 14.2% |
| Anaconda | $44,809 | $256,430 | 9,380 | 4.1% | 22.7% |
| Butte | $50,661 | $257,981 | 34,368 | 4.9% | 15.7% |
| Great Falls | $53,126 | $299,934 | 60,381 | 4.2% | 14.5% |
| Havre | $58,513 | $244,728 | 9,417 | 3.7% | 12.9% |
| Sidney | $55,611 | $287,801 | 6,240 | 5.2% | 7.53% |
| Billings | $63,608 | $369,802 | 115,689 | 2.7% | 11.1% |
7 Cheapest Places to Live in MT
The annual population growth of 13.3% since 2010 is reflective of people’s intention to move to Montana. If you’re considering shifting to the Treasure State, here are some cities that offer affordable living options:
1. Miles City
| 🟢 Cost of Living Compared to National Average | 22%⬇️ |
| 🏡 Median Home Price | $253,028 |
| 💲 Median Rent | $600 |
| 🌅 Known For | Range Riders Museum |
Miles City is an affordable place to live in Montana. Its median house rent ranges between $475 – $1,300. A low cost of living and affordable housing has led to a population growth of 2.34% since 2020.
Miles City, situated in Eastern Montana, is renowned for its historical importance and welcoming ambiance. Its residents relish the quaint allure of the town, characterized by expansive landscapes, abundant prairies, local points of interest, and numerous outdoor pursuits.
Moreover, Miles City hosts various institutions like Miles Community College and the Osher Lifelong Learning Institute, enhancing the community’s quality of life.
» Homes for Sale in Sharon, MT: Find your dream home in this city.
2. Anaconda
| 🟢 Cost of Living Compared to National Average | 14%⬇️ |
| 🏡 Median Home Price | $256,430 |
| 💲 Median Rent | $1,200 |
| 🏞️ Known For | Joe Orduno Park |
Anaconda is one of the most budget-friendly rental destinations in Montana with an average home rent of $1,200. It also offers affordable transportation which is 2% lower than the national average.
San Luis is a great place for people looking to buy a home. It has good opportunities for businesses, and living here is not expensive. Despite being a small town, San Luis is recognized for its promise and growth, making it an appealing place to live.
» Homes for Sale in Anaconda, MT: Browse thousands of property listings in Anaconda.
3. Butte
| 🟢 Cost of Living Compared to National Average | 12%⬇️ |
| 🏡 Median Home Price | $257,981 |
| 💲 Median Rent | $1,200 |
| 🏖️ Known For | Skydiving |
With rental costs below the national average, Butte stands as one of the most affordable cities to live in Montana. The house rent price is between $550 – $2,750.
Butte is famed for its exciting recreational options, with skydiving taking center stage. For enthusiasts seeking breathtaking views of the Montana desert, Sawtooth Dropzone and Skydive Montana stand out as top choices.
» Homes for Sale in Butte, MT: View all the properties for sale in this city.
4. Great Falls
| 🟢 Cost of Living Compared to National Average | 12%⬇️ |
| 🏡 Median Home Price | $299,934 |
| 💲 Median Rent | $1,400 |
| 🏖️ Known For | Historic Route 66 Museum |
Great Falls offers budget-friendly living with a median rent of $1,400, which is $600 lower than the national median. With monthly utilities costs being 8.1% lower than the national average, the city stands out as one of the most inexpensive places to live in Montana.
Great Falls is renowned for its rich history and as a key location along the historic Route 66. The Montana Route 66 Museum offers insights into this iconic highway’s cultural and historical importance.
» Homes for Sale in Great Falls, MT: Browse through thousands of affordable properties.
5. Havre
| 🟢 Cost of Living Compared to National Average | 17.3%⬇️ |
| 🏡 Median Home Price | $244,728 |
| 💲 Median Rent | $1,500 |
| 🎨 Known For | State Historic Park |
Also known as the “Crown jewel of the Hi-Line,” Havre’s cost of living is 17.3% lower than the national average. The average transportation expenses are 38% lower than the national average.
Yuma’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in Montana. It offers local families a delightful experience with its diverse beaches, authentic cuisine, and engaging historical tours.
» Homes for Sale in Havre, MT: Browse through thousands of properties in Havre.
6. Sidney
| 🟢 Cost of Living Compared to National Average | 1.6%⬇️ |
| 🏡 Median Home Price | $287,801 |
| 💲 Median Rent | $1,021 |
| 🏫 Known For | Museum and Monument |
The house rent in Sidney is between $725 – $1,595. With an average household income of $56,696, you can comfortably live in this city.
Residing in Sidney, MT provides a serene and picturesque lifestyle. The town fosters a tranquil and uncomplicated way of life, allowing residents to engage in numerous outdoor pursuits such as fishing, hunting, hiking, and camping.
» Homes for Sale in Sidney, MT: Find a home in one of the cheapest places to live in Montana.
7. Billings
| 🟢 Cost of Living Compared to National Average | 5.4%⬇️ |
| 🏡 Median Home Price | $368,650 |
| 💲 Median Rent | $1,360 |
| 🖼️ Known For | Water Bodies |
Bullhead City is one of the best places to live in Montana. The median home price in Billings is $369,802. The monthly expenditure on food for an individual amounts to $544, making it one of the most budget-friendly options across the country.
Situated near the borders of Nevada and California, Billings City is renowned for its moderate climatic conditions. Residents enjoy picturesque mountain and lake views, along with delightful year-round sunshine.
» Homes for Sale in Billings, MT: Get yourself a home in Billings.
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The Bottom Line
Despite expensive home prices, you can find affordable housing in Montana. Apart from housing, some cities also offer affordable living. You must research the city’s home prices and living costs before relocating.
Find Homes for Sale in MT Under Your Specific Budget
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Montana, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
What is the cheapest place to live in Montana?
The cheapest place to live in Montana is Miles City.
» 7 Cheapest Places to Live in Montana: Find out the other cheapest places to live in Montana!
Is Montana the cheapest place to live in?
No, it is not. The median home value is $441,925. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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