Where Montana Rent Prices Rank Across the U.S.

There have been a lot of stories over the past few years about the current and future cost of homeownership in Montana. Most of the reports list Montana as one of the most expensive places to purchase a home, and it looks like that is going to continue for the next few years.

Not everyone can afford to buy a house. A lot of Montanans rent. The cost of rent has increased across the country, as the cost of purchasing a home has increased.

Montana Rent Prices Compared Nationwide

As a state, Montana isn’t the most expensive place to rent, nor is it the cheapest, but we do rank higher than all of our neighbors. According to Construction Coverage, Montana is ranked right in the middle at No. 25 with a median rent of $1,713 a month. The numbers are also broken down by type of rental.

Studio - $1,170
One Bedroom - $1,285
Two Bedrooms - $1,618
Three Bedrooms - $2,200
Four Bedrooms - $2,588

Most and Least Expensive States for Rent

The most expensive states for median rent are California ($2,895), Hawaii ($2,869), and Massachusetts ($2,595). The least expensive are West Virginia ($1,126), South Dakota ($1,185), and North Dakota ($1,201). Montana's other neighbors rank lower with Idaho ranked at No. 26 ($1,644) and Wyoming ranked 44th ($1,236).

Montana has one city on the list with the most expensive median rent for a small metro market, with populations under 350,000. It probably won’t come as a surprise to most people that Bozeman is ranked number 5 on the most expensive list, with a median rent of $2,593.