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One of the least densely-populated states in the country, Montana attracts residents who really thrive in an outdoor environment. With plenty of outside recreation, activity is never at a minimum, even if you’re living in a more rural area of the state.
Views are spectacular here and varied. Without leaving Montana, you can see mountains, valleys, plains, hills, lakes, rivers and so much more. This landscape remains in pristine condition thanks to fewer cities, as well.
All that Montana offers definitely caters to those looking for an activity-based, laid-back lifestyle that isn’t without modern amenities and professional opportunities.
Will Montana and your budget come together without issue? Let’s find out by looking at the key costs of living in Montana.
Montana housing prices
Montana is a state of extremes. Some cities are retaining their small-town charm, growing on the slower side and keeping average housing costs more affordable. Other cities are doing the complete opposite, attracting so many people housing prices are skyrocketing. Both are some of the best places to live in Montana, these two cities perfectly represent these opposing price points of the cost of living in Montana.
Great Falls
Sitting on both banks of the Missouri River, Great Falls holds plenty of American history within it. Lewis and Clark passed through Great Falls during their famous expedition, and you’ll find a museum dedicated to cowboy art here.
All of this history comes at an affordable price when looking at housing. Prices are 22.3 percent below the national average. This keeps the average home price in Great Falls down to $322,450, and that means rents are pretty reasonable.
The average monthly rent for a one-bedroom apartment will cost $1,745. This is only an increase of 23 percent over last year. Two-bedroom apartments are seeing much more growth when it comes to price, rising by 51 percent over last year to an average of $1,895 per month.
Bozeman
Unlike Great Falls, Bozeman is experiencing a lot of growth right now. This is due to the state’s classification as a technological and cultural center. This fast-moving boost to the city has driven up housing to 54.8 percent above the national average.
Housing all around in Bozeman is more expensive and prices have jumped up a lot over last year. Home prices aren’t left out of this growth, and the average home in Bozeman costs $620,000.
Food prices
Montana as a state is known for its variety of meat and fruit. You can sample bison burgers (well, anything with bison meat, really,) elk, flathead cherries and huckleberries, just to name a few. With a potentially unique shopping list, Montana residents spend between $267 and $300 per month on groceries. Similar to housing prices, this puts one city over the national average and one under.
- Great Falls is 8.4 percent below the national average
- Bozeman is 7.1 percent above the national average
This means certain grocery items will vary greatly between the two cities. For example, steak in Bozeman is almost a dollar more than in Great Falls. Coffee is over $1.50 more in Bozeman, as well. Other food items, though, are the same price. Lettuce is $1.78 no matter where you live.
Food prices also impact the average cost of a night out to dinner. A three-course meal for two is $77.50 in Bozeman. That’s 27 percent more than the same meal will cost in Great Falls.
Utility prices
The cost of living in Montana for utilities is the one area in Montana where most cities fall below the national average in cost.
- Great Falls is 15.6 percent below the national average
- Bozeman is 13.7 percent below the national average
This is in spite of the cold and the potential for those big heating bills, which are highly likely considering the amount of snow in Montana every year. Great Falls gets an average of 58 inches of snow per year, and Bozeman gets an average of 65 inches.
Transportation prices
Throughout Montana, most cities have pretty average accessibility when it comes to walking and biking. Many supplement with public transportation, but car ownership is important.
What’s interesting here is which city is above and which is below the national average regarding transportation prices.
- Bozeman is 0.4 percent below the national average
- Great Falls is 6.4 percent above the national average
Bozeman is likely less expensive than Great Falls in this case because its public transportation system is actually free.
GFT in Great Falls
For public transportation in Great Falls, it’s all about the GFT, or Great Falls Transit. It consists of seven bus routes that go in every direction throughout the city, but what’s unique is the system’s hours of operation.
While most cities have late-night transportation, the GFT service ends Monday-Friday at 6:30 p.m. and at 5:30 p.m. on Saturdays. The buses don’t run at all on Sundays.
Another unique feature of the GFT is that buses stop at any street corner along its route as long as it’s safe and they’re not blocking an intersection. When you need the bus to stop to pick you up, you simply wave as the driver approaches to notify them you wish to board.
An adult, one-way fare on the GFT is $1.00, but you can get a punch pass for $10, which gives you 11 rides. You can also buy a monthly pass for $30.
Streamline in Bozeman
Also consisting of buses, the Streamline system of public transportation in Bozeman is a zero-fare transit system. Every line is color-coded for easy navigation with both weekday and weekend routes. You have your choice between the blue, purple, brown, pink or gold lines.
Scheduling here is also unique, with buses taking a break on the weekends. On Saturday and Sunday specifically, daytime service ends at 6:15 p.m., picking back up again at 8 p.m. and running until 2:30 a.m. This late-night bus also runs on Thursday and Friday, but overlaps with the daytime schedule.
Healthcare prices
When it comes to healthcare, Montana cities primarily hit right at the national average for costs.
- Bozeman is 0.5 percent below the national average
- Great Falls is 0.1 percent above the national average
You’d think this would create some consistency across the average cost of a doctor’s visit, but unfortunately, it does not. In Bozeman, the average doctor’s visit is $113.50, but you’ll pay over $26 more in Great Falls. The average for a doctor’s visit there is $139.50.
Goods and services
Goods and services are all those non-essential items you like to have in your monthly budget. They’re not necessary to survive, but sure make living more comfortable. Like so many components that go into the total cost of living in Montana, prices here hit above and below the national average.
- Great Falls is 12.9 percent below the national average
- Bozeman is 17.7 percent above the national average
Numbers here are potentially influenced by the high levels of growth in Bozeman. The rapid influx of people could create most businesses and increase the competition for goods and services, driving prices up.
The best way to see how these average differences really impact your monthly budget is to look at a few goods and services that could make it onto your list.
- To get a hamburger out with friends in Great Falls, you’ll pay an average price of $5.35, but in Bozeman, that same burger is 31 percent more, costing $7.75
- To get a haircut in Great Falls, the average cost is $14, but in Bozeman, that cut is 58 percent more at $33.33
- To go see a movie in Great Falls, the average ticket cost is $10.99, but going to that same movie in Bozeman ups the price by 19 percent to $13.50
You can even see differences like this when looking at goods and services that have a significant expense, like childcare. The cost of a full-day, private preschool in Great Falls is $675 per month, but in Bozeman, the cost rises to $725 per month, a 7 percent differential.
Just about any service or item for purchase will be higher in a more developed city like Bozeman when compared to a slower-growing city like Great Falls.
Taxes in Montana
Montana taxes are a bit different than many states. It doesn’t have a state sales tax and also doesn’t have any local sales taxes. Instead, the focus is on a graduated individual income tax. Rates for this tax range from a single percent up to 6.75 percent.
What this means is that when you spend $1,000 to begin furnishing your newly-rented apartment, none of that total gets taken away by taxes.
How much do I need to earn to live in Montana?
Living in Montana most likely means paying less rent than you would in the more urban areas of the country. Since rent makes up the largest chunk of your cost of living, making sure you can afford it first really is key.
The majority of experts say you need to put 30 percent of your annual income toward rent. The average rent in Montana for a one-bedroom apartment is $1,954. This means you need an annual salary of $78,160 to live comfortably in a single bedroom.
This can make apartment hunting in certain areas harder given that the annual mean salary in Montana is $49,340. You’ll most likely have more options living away from larger urban areas, so opt for smaller cities or suburban communities when you want more housing options.
To get the numbers exact, though, it’s best to work up your own budget when it comes to the cost of living expenses. You can get started figuring out rent as part of your cost of living in Montana by using our rent calculator.
Living in Montana
Montana is easily one of the most picturesque states in the country. Not only that, its less-dense population means there’s more open space to simply enjoy. If an outdoorsy lifestyle is what you crave, in a state that won’t cost you an arm and a leg, Montana is the perfect place for you. The cost of living in Montana makes it very doable.
The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of July 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.
Source: rent.com