Mountainous Montana makes a beautiful place to call home. Known for its grassy plains, mineral-rich land, and national parks, Montana is a nature lover’s paradise. With both small towns and bustling cities, there’s a place that in Big Sky Country that will fit everyone’s lifestyle. NewHomeSource has compiled a list of the top seven most affordable cities to help inform your choice.
7 Most Affordable Cities
Home Price to Income Ratio: 4.00
Average Property Tax: 1.78%
Median Household Income: $37,654
The most affordable city in Montana is full of small-town charm with big-city energy. Located in the Rocky Mountains, Butte is your gateway to hiking trails and mountain views that span across the miles. If you’d rather stay in town while exploring the great outdoors, check out the Big Butte Open Space Recreation. Brush up on your local history at the World Museum of Mining, which demonstrates what life was like in an 1890’s mining town.
2. Great Falls
Home Price to Income Ratio: 3.76
Average Property Tax: 1.68%
Median Household Income: $46,965
Located east of the Rocky Mountains, Great Falls is known for being an economic and cultural hub of Montana. If you’re a fan of Western art, be sure to check out the paintings at C.M. Russell Museum and the Wrangler Gallery. The Missouri River zigzags through the middle of the city, and multiple riverside parks allow you to enjoy views of the water as you go for a morning jog.
Home Price to Income Ratio: 3.71
Average Property Tax: 2.00%
Median Household Income: $59,656
With more than 117,000 residents, Billings has the largest population in the state. Learn more about the Yellowstone area by visiting the Western Heritage Center, and check out regional art at the Yellowstone Art Museum. Billings is also home to ZooMontana and a variety of spacious parks and wildlife preserves. Stop by the Moss Mansion Museum and wander through the expansive home, packed with relics from a bygone era.
Home Price to Income Ratio: 4.64
Average Property Tax: 1.90%
Median Household Income: $50,294
Located in northwestern Montana, Kalispell acts as a gateway city to Glacier National Park. Expect to be lost in wonder as you gaze at famous mountain peaks such as Heaven’s Peak and Going-To-The-Sun Mountain. Further in town, enjoy museums, golf courses, and all the urban amenities you’ll need.
Home Price to Income Ratio: 3.98
Average Property Tax: 2.35%
Median Household Income: $61,324
Not many state capitals rank in an affordable cities list, but Montana’s Helena is an exception! Visit downtown Helena for exciting attractions and sights such as the Holter Museum of Art, Original Governor’s Mansion, and Cathedral of Saint Helena. If you need a break from the city, check out Mount Helena and Mount Ascension Park, both located along the southern boundaries of the city.
Home Price to Income Ratio: 5.90
Average Property Tax: 2.74%
Median Household Income: $47,426
Located in western Montana, Missoula is known as the “hub of five valleys” due to its close proximity to five mountain ranges. One of the most notable city landmarks is A Carousel for Missoula, which features a hand-crafted carousel and is the site for community events. Drop by the University of Montana to see the Montana Museum of Art and Culture, go for a swim at Splash Montana, or step back in time at The Historical Museum at Fort Missoula.
Home Price to Income Ratio: 6.58
Average Property Tax: 2.89%
Median Household Income: $55,569
Located in southern Montana amongst the Rocky Mountains, Bozeman is a hub of activity. Museum fans will enjoy the multiple museums in the city, including Gallatin History Museum, Museum of the Rockies, and American Computer & Robotics Museum. Visit Glen Lake Rotary Park for a spectacular view of the mountains, or Painted Trails Access to work up a sweat on the hiking trails.
Cities with the Best Home Price to Income Ratio
While the list above is sorted by the lowest overall cost of living index, the following cities have the lowest home price to income ratio, meaning you can get more home for your money.
- Great Falls
Other Montana Resources
Sarah graduated from Trinity University in 2012 with a degree in International Relations and Political Science. She writes blogs on new homes, decor, communities, and more for NewHomeSource. When she’s not writing, you can find her spending time with her three cats.