Most Expensive Places to Live in Montana

6. BILLINGS, MONTANA

As of August 2025, the reported median home price in Billings, MT is at $397,089, up 7% since 2024. While Billings is generally considered more affordable as compared to other cities across the U.S., it stands out as being one of the more expensive places to live in Montana. As the largest city in the state, Billings has experienced significant population growth in recent years, resulting in higher home and rental prices. Additionally, wages in Billings fall below the national average in various fields, further contributing to the high cost of living. 

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5. KALISPELL, MONTANA 

Located just 15 minutes from Whitefish, MT, Kalispell has been seen rising living costs, largely due to its proximity to Whitefish. According to Zillow, in 2025 the median home cost carries a pretty price tag of $552,211, making Kalispell a more affordable alternative to Whitefish. As a result, many individuals priced out of Whitefish have relocated to Kalispell, contributing to the same supply and demand challenges seen across the state.

Located just 15 minutes from Whitefish, MT, Kalispell has been seeing rising living costs, largly due to its proximity to Whitefish. According to Zillow, in 2025 the median home cost carries a pretty price tag of $552,211, making Kalispell a more affordable alternative to Whitefish. As a result, many individuals priced out of Whitefish have relocated to Kalispell, contributing to the same supply and demand challenges seen across the state.
 

4. MISSOULA, MONTANA

According to Zillow, the average value of a home in Missoula, MT for 2025 is at $568,708, a 13% increase from 2024’s average of $504,900. Like other popular towns in Montana, Missoula’s market has grown more expensive due to population growth, local wages not keeping up with inflation, and low housing supply as compared to other towns. 

While wages have risen in Missoula in the past year, finding affordable housing remains a struggle, especially in neighborhoods near the University of Montana and downtown Missoula. 

3. BOZEMAN, MONTANA

Bozeman, Montana remains the state’s most expensive city outside of luxury mountain resort towns such as Big Sky and Whitefish. During the pandemic in 2020, housing demand from out-of-state buyers skyrocketed, with individuals and buyers seeking more expensive homes and neighborhoods, which was already at limited supply. As a result, home prices saw a significant increase and although they have leveled off since, they have not seen any significant declines.

In recent years, there has been an uptick in tech companies relocating to Bozeman, along with more remote workers, driving up wages in the area. Affordable housing remains scarce, making it difficult for service workers, recent college graduates, and locals to find somewhere to live within their means. Bozeman’s tourism-driven economy also contributes higher prices for dining and entertainment, adding to the overall cost of living. 

As of 2025, the average home price in Bozeman is approximately $730,000. Much of city’s appeal lies in its mountain scenery, abundant outdoor recreation, Montana State University, and its proximity to Big Sky, Yellowstone, and Glacier National Park.
 

2. WHITEFISH, MONTANA

Like Big Sky, Whitefish is one of Montana’s luxury ski resort towns, located near Glacier National Park. The area is attractive to affluent buyers driving up housing costs, due to Whitefish Mountain Resort and Whitefish Lake providing residents with year-round access to recreational activities. As of 2025, the reported median home price is $858,051.

Whitefish’s proximity to Glacier attracts tourists from across the U.S., resulting in the development of more vacation homes and short-term rentals. These developments have contributed to high pricing and limited supply, and continued demand for luxury properties from out-of-staters from California and Colorado all factor into Whitefish’s high cost of living. 

1. BIG SKY, MONTANA

The reported median home price in Big Sky, Montana for 2025 is now a little under $2 million at $1,851,233. Like the rest of Montana, high demand and very low supply are the main contributors to its high cost of living. 

Big Sky offers residents and visitors world-class skiing, proximity to Yellowstone National Park, and stunning scenery, making it a highly desirable destination. The exclusive Yellowstone Club, home to celebrities and millionaires, features properties ranging from $4 to $30 million. 

Because affordable housing is extremely limited, most individuals who work in Big Sky commute from Bozeman. Rental properties are also scarce and expensive, which has encouraged Big Sky employers to provide workforce housing, and the town continues to try and find solutions for more affordable housing for locals.