Average Rent in Bozeman, MT↓ Rents falling 2.1% YoY🔺 Most expensive in MT

Bozeman, MT has rental prices ranging from $1,469/month to $3,487/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,612/month — 15% above the national average of $1,400/month. With a median household income of $87,454/year, spending $1,612/month on a 1-bedroom represents 22% of gross income — within the recommended 30% threshold.

How Bozeman Compares

With an average 2-bedroom rent of $2,109/month, Bozeman ranks #1 most expensive of the 62 cities tracked in Montana — pricier than 98% of all US cities in our data.

The Bozeman Rental Market

The Bozeman, MT area has a population of about 122,194 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Bozeman, MT have fallen by $45/month (2.1%) over the past year, from $2,154 to $2,109. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Bozeman, MT without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $64,480. The local median household income of $87,454 exceeds that threshold by $22,974, making Bozeman relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Bozeman, MT is $721,678, giving a price-to-rent ratio of 28.5. With a break-even horizon of approximately 29 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Bozeman's neighborhoods. Among the highest-value areas are Bozeman Creek ($663,211 median home value), New Hyalite View ($729,228 median home value), Northeast ($749,889 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Bozeman, MT Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Bozeman?

Break-even analysis and mortgage estimates based on local market data.

Living in Bozeman

Cost of living, job market, crime rates, and moving cost estimates.