Montana’s housing market listed as least affordable in entire US

Montana’s housing affordability crisis is making national headlines lately, with a critical U.S. Senate race putting even more of a spotlight on an issue that was already top-of-mind for everyone living here.

The Treasure State’s problem can be summed up with a simple comparison.

From 2018 to 2023, the median home sales price in Montana rose from $266,473 to $505,419, according to the Montana Association of Realtors. That’s an eye-popping 89.6% increase. In that same time frame, U.S. Census Bureau data shows the median household income in Montana rose from $55,328 to $70,804, a relatively paltry 27.9% increase.

Wage increases in Montana are not even close to keeping up with housing price gains.

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Recently, the National Association of Realtors came out with a report that listed Montana as the least affordable state in the entire country, based on its Affordability Distribution Curve, which measures “housing affordability at different income levels for all active (houses for sale) on the market.”

The National Association of Realtors lists Montana as being the least affordable for homebuyers.

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