Cheapest City To Buy a Home in Montana Is Down The Road
Makes you think about maybe moving to a place that's way more affordable to live in, doesn't it?
24/7 Wall Street came out with an article on the Cheapest City to Buy a Home in Every State and this is a hot-button issue in the Gallatin Valley. Plus, I had to know what was the cheapest place to buy a house and how close is the city to Bozeman. and luckily, it's just down the road.
The cheapest city to buy a home in Montana is Butte. Butte is one of the most historic cities in Montana with its rich mining history but according to 24/7 Wall Street, the average median home value is just north of $150,000, which is $80,000 cheaper than the Montanan average. The average household income is just over $45,000, which is almost $10,000 cheaper than the state average as well.
If you are wondering how does Butte compared to Bozeman, there is no comparison. According to the Bozeman Real Estate Group, the average median single-family home price is.....brace yourselves, $730,000. That is absolutely outrageous. Even the average price for townhomes and condos is well over $420,000.
That breaks my heart for so many people here in the Gallatin Valley. We all know in the past five years the rising house costs here in Bozeman have been rising at an insane rate and have basically become unlivable for many folks and driving them away.
So looking at something like this makes you think, should I live somewhere else and be able to afford where I live or hope things change here in Bozeman. As of right now, there is no end in sight.
For more details, check out 24/7 Wall Street.