Cost of Living in Missoula, Montana

Missoula is western Montana's largest city and a regional hub for education, healthcare, and outdoor recreation. Understanding the cost of living here is essential whether you're considering a move or comparing Missoula to other Montana communities. This guide breaks down housing, income, affordability, and employment data to give you a clear picture of what it costs to call Missoula home. For a broader overview of the city, see our Missoula guide.

At a Glance

Housing Costs

Housing is the single largest expense for most Missoula residents. The median home value stands at $576K according to Zillow's Home Value Index as of June 2026. The U.S. Census Bureau's American Community Survey puts the figure lower at $427K, reflecting the multi-year survey window.

Renters pay a median of $1,550 per month. Home values rank in the 88th percentile among Montana towns, while rents sit at the 83rd percentile. For a detailed look at market trends, inventory, and buying conditions, see our Missoula housing market guide.

Income & Affordability

The median household income in Missoula is $65K, placing it at the 50th percentile among Montana towns. The affordability ratio — median home value divided by median household income — is 8.8. For context, the commonly cited national benchmark is around 3.0 to 5.0.

This doesn't mean Missoula is unaffordable in absolute terms — median home values here remain well below those in comparable cities like Bend, Oregon or Boise, Idaho. And Montana's lack of a state sales tax provides some relief on everyday expenses.

Monthly Budget Estimate

While individual budgets vary widely, here's a rough breakdown of monthly costs for a household earning Missoula's median income:

Estimates based on local medians and regional cost indices. Actual costs vary.

Employment & Economic Context

Missoula's economy is anchored by Education & Healthcare, which accounts for 26.2% of employment. The next largest sectors are Professional Services (14.1%) and Tourism & Hospitality (13.8%).

The unemployment rate is 4.7%, and labor force participation stands at 72.6%. For the full industry breakdown, see our Missoula jobs and economy guide.

How Missoula Compares

Among Montana's larger cities, Missoula falls in the middle tier for overall cost of living. Bozeman is significantly more expensive (median home values exceed $700K), while Great Falls and Billings offer lower housing costs but fewer of the outdoor recreation and cultural amenities that draw people to western Montana.

Missoula's combination of a university-driven economy, access to five major river valleys, and a vibrant downtown makes it attractive to remote workers, retirees, and outdoor enthusiasts — which in turn keeps upward pressure on housing costs. The 15% year-over-year increase in for-sale inventory suggests the market may be shifting toward more balance.

Key Takeaways

• Housing is the biggest cost driver, with home values in the top 12% of Montana towns.
• Incomes are middle-of-the-pack for Montana, creating an affordability gap.
• Montana's zero state sales tax offsets some daily expenses.
• The job market is stable, driven by education, healthcare, and professional services.
• Inventory is growing, which may ease prices for buyers over time.