Montana Has Gained Another 'Million Dollar City'

The price of homes and living in Montana has been a topic that has been popular with residents and with people who are contemplating moving here. The cost of purchasing a home has continued to rise. Recently Bankrate.com analyzed how much salary a person would need to be able to afford a home.

Montana Has Added a New "Million Dollar" City in 2024

Just when you think things might be leveling off or there may be a break in prices rising, there comes another report. According to a Zillow.com report on affordability, the U.S. now has a record 550 "Million Dollar" cities. A "Million Dollar" city is defined as "where the typical home is worth $1,000,000 or more". According to Zillow, Montana had three "Million Dollar" cities in 2023, now we have four.

The report doesn't list what Montana cities are described as "Million Dollar" cities, or which city has made the list in 2024. They do say that they are expecting mortgage rates to drop this year, which may mean a "second wave of demand that drives prices higher."

Get our free mobile app

Yes, there is a possibility that homes in Montana can get even more expensive this year. If that happens could that mean we would see even more Montana cities become "Million Dollar" cities? We will have to wait to see if the mortgage rates will fall later this year. Also, according to the report, California has 210 "Million Dollar" cities.