Montana Housing Market & Affordability 2026
Median home prices, homeownership rates, affordability trends, and housing policy in Montana for 2026.
$455,000
Median Home Price
Low
Affordability Rating
68%
Homeownership Rate
+3.4%
Year-over-Year Change
Housing Market Overview
Montana experienced extreme price appreciation as remote workers moved in during the pandemic. Bozeman in particular saw prices that rivaled major coastal cities. The legislature passed significant zoning reform allowing more density statewide. Workforce housing is a crisis in resort areas and growing cities.
Key Housing Data
| Indicator | Value |
|---|---|
| Median Home Price | $455,000 |
| Year-over-Year Change | +3.4% |
| Affordability Rating | Low |
| Homeownership Rate | 68% |
| Renter Cost Burden | 31% |
| Housing Inventory | Very Low |
| Zoning Environment | Moderate |
| Rent Control | None |
| Property Tax Burden (Rank) | #36 nationally |
Political Context
Montana passed sweeping zoning reform legislation in 2023 with bipartisan support, requiring cities to allow more housing. Republicans framed it as property rights and local burden reduction. Democrats supported affordability goals. Property tax increases from rising values triggered legislative action.