Bozeman, MT

Very High · 143

Montana · Population 55,042 · Updated March 2026

$1,611
Median Rent / Month
$79,903
Median Income
$614,900
Median Home Value
$1,658
Owner Costs / Month

Affordability

How far your income goes in Bozeman

24.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Montana

State-level tax rates that affect your costs

6.75%
Income Tax (Top Rate)
0%
Sales Tax
0.74%
Property Tax Rate

Estimated Annual Costs

$19,332
Annual Rent
$5,393
State Income Tax
$4,550
Property Tax (est.)

Cost of Living Overview

Bozeman has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 143 (where 100 equals the national median), Bozeman residents can expect to pay median rent of $1,611/month while earning a median household income of $79,903/year.

The median home value in Bozeman, MT is $614,900, with typical monthly owner costs around $1,658 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Montana has a moderate income tax rate of 6.75%. Combined with a 0% sales tax rate and 0.74% effective property tax rate, the overall tax environment is a factor in the total cost of living in Bozeman.

Frequently Asked Questions

Common questions about living costs in Bozeman

What is the cost of living in Bozeman, MT?
The cost of living index in Bozeman, MT is 143 (US average = 100). Median monthly rent is $1,611, median household income is $79,903/year, and the median home value is $614,900.
Is Bozeman, MT affordable?
No, Bozeman is more expensive than the national average with a cost index of 143. The rent-to-income ratio is 24.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Bozeman, MT?
The median gross rent in Bozeman, MT is $1,611 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,332.
What is the median household income in Bozeman?
The median household income in Bozeman, MT is $79,903 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Montana?
Montana has a top income tax rate of 6.75%, a sales tax of 0%, and an effective property tax rate of 0.74%.