Rent in Montana
The median 2-bedroom Fair Market Rent in Montana is $1,417/mo, ranking #22 out of 51 states for highest rent. This is $167 above the national median of $1,250/mo. Montana has a population of 1.1M. About 30.6% of households rent their homes. Fair Market Rent data covers 9 areas across the state.
Highlights
All 9 Areas in Montana
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| Bozeman Pop. 122K | $1,485 | $1,642 | $2,154 | $2,996 | 29.6% | - |
| Broadwater County Pop. 7.3K | $1,240 | $1,595 | $1,748 | $2,096 | 33% | - |
| Missoula Pop. 124K | $1,143 | $1,400 | $1,655 | $2,302 | 28% | +37.6% |
| Lewis and Clark County Pop. 73K | $1,136 | $1,319 | $1,647 | $2,250 | 26.5% | - |
| Billings Pop. 187K | $1,016 | $1,109 | $1,417 | $1,951 | 22.8% | +23.4% |
| Jefferson County Pop. 13K | $968 | $1,070 | $1,404 | $1,946 | 22% | - |
| Mineral County Pop. 4.8K | $941 | $1,083 | $1,361 | $1,632 | 26.7% | - |
| Great Falls Pop. 85K | $960 | $979 | $1,284 | $1,786 | 23.3% | +31.2% |
| Stillwater County Pop. 9.1K | $884 | $958 | $1,257 | $1,748 | 18.5% | +22.9% |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across Montana is $1,417 per month. Rents range from $1,257/mo in Stillwater County to $2,154/mo in Bozeman. The actual median gross rent statewide is $1,031/mo according to Census data.
Montana ranks #22 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,417/mo is $167 above the national median of $1,250/mo.
The average rent burden across Montana is 25.6%, meaning a typical household would spend 25.6% of income on a 2-bedroom at Fair Market Rent. 1 of 9 areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $69,922.
The most affordable area in Montana is Stillwater County with a 2-bedroom Fair Market Rent of $1,257/mo. The median household income there is $81,503.
The most expensive area in Montana is Bozeman with a 2-bedroom Fair Market Rent of $2,154/mo. The median household income there is $87,454.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.