Missoula, MT

Average · 101

Montana · Population 75,600 · Updated March 2026

$1,120
Median Rent / Month
$65,329
Median Income
$427,400
Median Home Value
$1,245
Owner Costs / Month

Affordability

How far your income goes in Missoula

20.6%
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

$13,440
Annual Rent
$4,410
State Income Tax
$3,163
Property Tax (est.)

Cost of Living Overview

Missoula has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 101 (where 100 equals the national median), Missoula residents can expect to pay median rent of $1,120/month while earning a median household income of $65,329/year.

The median home value in Missoula, MT is $427,400, with typical monthly owner costs around $1,245 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.6% 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 Missoula.

Frequently Asked Questions

Common questions about living costs in Missoula

What is the cost of living in Missoula, MT?
The cost of living index in Missoula, MT is 101 (US average = 100). Median monthly rent is $1,120, median household income is $65,329/year, and the median home value is $427,400.
Is Missoula, MT affordable?
No, Missoula is more expensive than the national average with a cost index of 101. The rent-to-income ratio is 20.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Missoula, MT?
The median gross rent in Missoula, MT is $1,120 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,440.
What is the median household income in Missoula?
The median household income in Missoula, MT is $65,329 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%.