Nobody is surprised when you hear housing prices in Montana are sky high, but when you compare that with individual incomes, Montana has the least-affordable housing in America.
To back that up, consider these numbers: From 2018 to 2023–according to the Montana Association of Realtors, the median home price rose from $266,473 to $505,419. That’s an increase of 89.6%. At the same time, Census Bureau data indicates the median household income in Montana rose from $55,328 to $70,804, only a 27.9% increase. The disparity is obvious.
Wage increases in Montana are not even close to keeping up with housing price gains. Conclusion: the Montana Association of Realtors says, when it comes to affordability, Montana is even worse than California and Idaho.
