How Much Do You Need To Make To Afford A Home In Montana?

A couple times a week I will get online and check out the real estate listings across Montana.

My wife and I are looking to buy a home and let's just say, it's more difficult than we'd like it to be. Of course, if you're a Montana resident looking to buy, you're more than aware that we have a bit of a "housing crisis" here in Big Sky Country.

First off, there isn't a huge selection when it comes to homes for sale, and then when you add the fact that the prices are more than most Montanans can afford, it can be a frustrating situation for those looking to become homeowners.

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According to some new research, buying a house in Montana is unaffordable. The folks over at List With Clever looked at all 50 states to determine how much you would need to make to afford a home. Unfortunately, for Montanans, it's not the best news.

How much do you need to make per year to afford a home in Montana?

Looking at the data, Montana is the 2nd most unaffordable state in America when it comes to buying a home. To buy a home in Montana the average Montanan would have to make almost 150 thousand dollars to buy a home.

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The problem? The average Montana salary is right around 70 thousand, which means the average Montanan is a little over 80 thousand dollars short per year.

While there are parts of the state that are more affordable than others, the fact is, there are areas of Montana where 500k will get you a townhouse with shared walls and no yard. I can't speak for you, but if I'm going to spend half a million dollars on a home, I don't want to hear my neighbors through the wall, or not have a backyard for my dogs.

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Is there a solution to the problem? If there is, it doesn't look like it's going to happen anytime soon. If you take a look at home prices over the last 5 to 6 years, you will see that many of the homes for sale in The Treasure State have doubled in price.

Throw in the high interest rates, and it doesn't seem like there's a lot of light at the end of the tunnel.

These are the Top 8 Cheapest Towns To Live In, In Montana

Have you been contemplating moving to Montana? Maybe you already live here and the town has gotten so expensive you are having to relocate by no fault of your own. The good news, you can stay in Montana by moving to one of the cheapest towns in Montana.

PropertyClub.NYC has announced its 2023 list of the 8 cheapest Montana towns.

Gallery Credit: megan shaul

Montana's 7 Poorest Cities Ranked

For many Montanans, it's a struggle to make ends meet. With the high cost of housing, several locals have found themselves between a rock and a hard place when it comes to just getting by. Throw in the fact that prices are on the rise in almost every aspect of our lives and it's not too hard to see why so many Montanans are frustrated and are looking to leave The Treasure State.. Let's take a look at the state's 7 poorest cities according to Stacker.

Gallery Credit: Derek Wolf