Montana, also known as Big Sky Country, has a well-deserved reputation as an outdoor adventurer’s dream. Because of it, the state is home to some must-see attractions like Glacier National Park, the Lewis and Clark Caverns, and a portion of Yellowstone National Park.
Montana has a lot to offer. There are many thriving cities, hip college towns, and historic landmarks dating back to the mid-1800s when gold was first discovered.
As housing prices continue to rise across Montana, it is becoming increasingly difficult to find an inexpensive home – in a city you love. It’s a good thing then that the Treasure State still has a lot of spots where you can live a wonderful life on a budget.
Take a look at our list of cheapest places to live in Montana and decide which option is the best for you!
Cheapest Places in Montana Guide
The cheapest places to live in Montana are in Colstrip and Wolf Point. These are two of the eight towns in Montana that offer low gasoline, grocery, and housing prices. Here’s a look at some of the state’s most affordable neighborhoods and what makes them the ideal economical places to call home.
1. Colstrip
First on the list is Colstrip, which is also famous for being among the safest and best places to live in Montana. Colstrip may not offer the most affordable houses or the cheapest rentals, but it does boast well paying-jobs and a low unemployment rate.
Colstrip residents make $90,263 per year on average, which is roughly 65% more than the state average. Hence, a property in Colstrip priced at under $118,200 is a wonderful deal.
People in Colstrip invest the least portion of their income on housing as compared to any other community in the state. At $440 a month for a studio apartment, Colstrip has Montana’s second-best rental cost-to-income ratio.
Colstrip’s gas prices are also lower than the national average, at $3.86 per gallon. Similarly, low-cost auto insurance prices range from $316 to $969, with higher charges for young drivers and the elderly.
If you’re looking for some affordable fun in Colstrip, the fishing at Castle Rock Lake is world-class for walleye, pike, and bass.
2. Wolf Point
Wolf Point, a small town in north-eastern Montana’s Fort Peck Indian Reservation, is one of the cheapest places to live in the state. It is home to the Wild Horse Stampede, dubbed “the Granddaddy of Montana Rodeos,” so cowboy culture buffs, rejoice!
Wolf Point has some of the lowest housing prices in Montana if you chose to settle down. It also has the state’s fourth-best price-to-income ratio. If you’re unsure whether you want to have a mortgage, a one-bedroom apartment costs around $687 each month.
However, visitors or those looking to move to Montana may also want to be aware that Wolfpoint is one of the most dangerous cities in Montana.
3. Billings
