5 affordable places to live in Montana
Known for its open spaces, Montana is a unique place to settle. Here are some lower-cost options to consider.
1. Billings
As Montana's largest city, Billings has a lot to offer young professionals and families alike. The median home value in Billings is $212,700, according to Niche, which is considerably below the median home value for Montana on a whole -- $288,867, according to Zillow. Meanwhile, Tax-rates.org reports the average property tax rate in Yellowstone County is 0.98% of a home's assessed value. The average property tax rate statewide is 0.83%.
2. Butte
About an hour south of Helena, Butte was once known as a major mining town. These days, its economy revolves around energy companies and health care. The median home value in Butte is $144,200, roughly half the median home value statewide. And the average property tax rate in Silver Bow County is 1.15% of a home's assessed value.
3. Great Falls
Known for its parks, well-rated schools, and proximity to waterfalls and hiking, Great Falls tends to draw families and young professionals. Though housing is relatively inexpensive in Great Falls, with a median home value of $168,900, the economy has been sluggish since the Great Recession. But in 2016, Great Falls won a grant to open a Food and Agricultural Development Center. The average property tax rate in Cascade County is 0.98% of a home's value.
4. Helena
Montana's capital is known for its restaurants, coffee shops, and parks, and young professionals tend to flock there. The median home value in Helena is $232,000, while the average property tax rate in Lewis and Clark County is 1% of a home's assessed value.
5. Kalispell
About 20 minutes from Montana's famed Whitefish Mountain Resort and less than an hour from Glacier National Park, Kalispell is an outdoor enthusiast's haven. The median home value in Kalispell is $214,100, while the average property tax rate in Flathead County is below Montana's average despite all of those nearby amenities -- just 0.77% of a home's assessed value.
Though it's possible to buy an affordable home in Montana, another good way to keep your housing costs reasonable is to snag a low mortgage rate. To that end, work on boosting your credit score and lowering your debt-to-income ratio before you apply for a home loan. Check out our mortgage calculator to help you estimate your monthly payment, including principal, interest, insurance, taxes, and PMI.
