Montana Cities Rank Among Cheapest Rentals—But There’s a Catch

If you’ve spent any time talking to people trying to find a place in Missoula, you already know the reality. Affordable rentals are hard to come by, and the competition is real. It’s a college town, so a lot of what’s out there isn’t your traditional apartment setup. Instead, you’re seeing houses split into multiple rentals, rooms for rent, and a whole lot of roommate situations. People are getting creative to make it work. 

Missoula’s Competitive Rental Market

That’s why a new report from WalletHub is turning some heads. They ranked rental affordability across more than 180 markets nationwide, and two Montana cities landed fairly high on the “cheapest places to rent” list. 

Affordability Rankings: Montana's Standouts

Billings came in at number 14, which is a pretty strong showing. Out of all the markets analyzed, that puts Billings solidly in the top 15 for affordability. 

READ MORE: The Cities Where Missoulians Are Moving, and #1 Is a Shocker

Then there’s Missoula, which landed at number 34. That might sound decent at first glance, but here’s where things get interesting and maybe a little frustrating. According to the data, it’s actually cheaper, on average, to rent in Seattle than it is in Missoula. Let that sink in for a second. 

Top Affordable Rental Markets in the U.S.

For some perspective, the most affordable rental markets in the country right now include Bismarck at number one, followed by Sioux Falls, Cedar Rapids, Charleston, and Fargo. Notably, North Dakota shows up twice in the top five. 

The rankings factor in things like rent prices compared to local income levels, which helps paint a clearer picture of what people are actually dealing with, not just raw rent numbers. 

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Bozeman didn’t make the list at all, which probably won’t surprise anyone who’s looked at housing there lately. 

READ MORE: Top Cities Where People Are Looking to Buy Homes in Missoula, Montana

Bottom line, even if Missoula technically ranks as more affordable than some places like Spokane, it doesn’t necessarily feel that way on the ground. When renters are doubling up, splitting homes, and scrambling for limited inventory, those rankings only tell part of the story. 

Good luck out there. It’s a tough market.