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City · 56,114 residents · Gallatin County, Montana

Bozeman , Montana

In Bozeman, a typical home is worth $687,900 and typical rent is $1,717 a month. Compared with all of Gallatin County, typical household income is 8% lower and the share of households that own their home is 16 points lower.

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  • Typical home value

    $687,900

    3% above the county

    83% above Montana

    • Bozeman
    • Gallatin
    • Montana

  • Typical rent

    $1,717a month

    About the same as the county

    59% above Montana

    • Bozeman
    • Gallatin
    • Montana

  • Typical household income

    $85,747a year

    8% below the county

    18% above Montana

    • Bozeman
    • Gallatin
    • Montana

  • Households that own their home

    45%

    16 points below the county

    24 points below Montana

    • Bozeman
    • Gallatin
    • Montana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$721,678
0.8% more than 12 months ago
Typical rent
$2,199 a month
4.4% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Bozeman is in Gallatin County. The FHA loan limit ($718,750 for a one-unit home), the fair market rents and the help on this page are those of all of Gallatin County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Bozeman apart

What this place has that others do not, from public data, most unusual first.

  1. Bozeman has the lowest homeownership rate of the 26 cities in Montana with more than 5,000 people: 45%.

  2. Bozeman has the highest typical home value of the 26 cities in Montana with more than 5,000 people: $687,900.

  3. Nearby, in Helena Valley Southeast, the typical home value is $331,500: 52% less than in Bozeman ($687,900).

  4. Nearby, in Livingston, the typical rent is $1,046: 39% less than in Bozeman ($1,717).

  5. Bozeman has the 2nd highest typical rent of the 26 cities in Montana with more than 5,000 people ($1,717).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Bozeman

What homes there are in Bozeman, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Bozeman there is a bit of everything: no kind of home reaches half. The most common are detached houses (41%); in Gallatin County, 58%.

Year built

In Bozeman, half of the homes were built before 2000; in Gallatin County, before 1998.

There are fewer big homes in Bozeman than in Gallatin County: 55% have 3 bedrooms or more, against 65%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,339 a month

Gallatin County: $2,299 a month

Without a mortgage

$736 a month

Gallatin County: $750 a month

Owners with a mortgage

66%

Gallatin County: 63%

Owning costs about the same in Bozeman as in Gallatin County: with a mortgage, $2,339 a month; without one, $736.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Bozeman rose at about the same pace as in Gallatin County: 88% against 87%.

Much as in Gallatin County, the typical rent in Bozeman rose 59% since 2015–2019.

Here income did not keep up with housing: it rose 54%, while home values changed +88% and rent +59%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBozemanGallatin CountyMontanaUnited States
Rental vacancy 5.0%6.2%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room 1.3%2.0%1.8%3.4%
People per household 2.172.332.372.53
Drive alone 63%69%71%69%
Carpool 7%7%10%9%
Public transit Unreliable estimate1%1%3%
Walk or bike 12%7%5%3%
Work from home 16%16%13%15%
Other means 1%1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

The rental vacancy rate in Bozeman is 5.0%, lower than in Gallatin County (6.2%).

More than one person per room: that is how 1.3% of households in Bozeman live, near the figure in Gallatin County (2.0%).

Households in Bozeman are smaller: 2.17 people on average; in Gallatin County, 2.33.

Many here get to work on foot or by bike: 12%, more than in Gallatin County (7%).

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Bozeman?

A typical home costs more than the typical income allows

We start with a typical home in Bozeman, worth $687,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 77% of the typical household income in Bozeman, which is $85,747 a year. For that payment to be 28% of income, a household would need to earn about $236,410 a year.

The calculator's FHA and conventional loan limits are those of all of Gallatin County.

Your numbers

Local data
$

Starts at the typical home value in Bozeman. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $24,077 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,516

at 7.18% · 30 years

Loan amount
$675,440
Total interest
$971,800
Paid off in
November 2056

Includes $11,617 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,001 a month

  • Tight

    $2,001 to $2,572 a month

  • Hard

    more than $2,572 a month

    Your payment · 77%

Compared with the typical household income in Bozeman ($85,747 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,516
Principal & interest$4,576
Property tax$350
Home insurance$287
FHA mortgage insurance (MIP)$304

You need at least $24,077 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Bozeman and Gallatin County

Bozeman is in Gallatin County, Montana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Bozeman's own numbers

Typical home value
$687,900
Typical monthly rent
$1,717
Typical yearly household income
$85,747
Households that own their home
45%
Effective property tax rate
0.61%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Gallatin County

FHA limit, one-unit home
$718,750
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,109
Price change over 5 years (FHFA)
+65%
Homes in a high flood-risk zone
2.3%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Gallatin County.

Everything about Gallatin County

Buying

Buying a home in Bozeman

A typical home in Bozeman is worth $687,900: 3% above the county and 83% above Montana. With the typical household income in Bozeman ($85,747 a year), a typical home costs 8.0 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Bozeman 8.0 years
  • Gallatin 7.1 years
  • Montana 5.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Gallatin County

According to FHFA’s house price index, home prices in Gallatin County rose 140% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Gallatin County.

Period County Montana U.S.
Last year (2025) +0.1% +2.3% +2.9%
5 years (2020–2025) +65% +62% +47%
10 years (2015–2025) +140% +105% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Bozeman next to Gallatin County, Montana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Bozeman $687,900
  • Gallatin $667,600
  • Montana $375,800
  • United States $332,700
Typical monthly rent
  • Bozeman $1,717
  • Gallatin $1,694
  • Montana $1,081
  • United States $1,413
Typical yearly household income
  • Bozeman $85,747
  • Gallatin $93,528
  • Montana $72,509
  • United States $80,734
See the full table
Bozeman next to Gallatin County and Montana
Measure Bozeman Gallatin County Montana U.S.
Typical home value $687,900 $667,600 $375,800 $332,700
Typical monthly rent $1,717 $1,694 $1,081 $1,413
Typical yearly household income $85,747 $93,528 $72,509 $80,734
Households that own their home 45% 61% 69% 65%
Typical yearly property tax $4,183 $3,933 $2,693 $3,119
Effective property tax rate 0.61% 0.59% 0.72% 0.94%
Renters with high rent for their income 51% 48% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Gallatin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Bozeman

For a typical $687,900 home in Bozeman, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Bozeman's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,516a month

    Least cash to close
    Down payment
    $24,077
    Cash to close
    $44,714
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $304

  • Conventional, 5% down $5,390a month

    Down payment
    $34,395
    Cash to close
    $55,032
    Rate
    7.18%
    Mortgage insurance
    PMI · $327

  • Conventional, 20% down, no PMI $4,364a month

    Down payment
    $137,580
    Cash to close
    $158,217
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,000a month

    Down payment
    $103,185
    Cash to close
    $123,822
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Bozeman and for Gallatin County.

Property tax

Effective rate in Bozeman

0.61%of the home’s value each year

$4,183 a year for the typical owner in Bozeman.

  • Bozeman 0.61%
  • Gallatin 0.59%
  • Montana 0.72%

What Montana publishes Homestead reduced tax rate for your principal residence (Montana Department of Revenue)

Exemptions and deadlines in Montana

Flood risk in Gallatin County

FEMA does not publish these numbers by city: they are for all of Gallatin County.

Homes in the high-risk zone
2.3%
975
Of those, with NFIP insurance
20%
County Montana U.S.
Homes in the high-risk zone 2.3% 2.6% 3.5%
Of those, with NFIP insurance 20% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Bozeman

Typical rent in Bozeman is $1,717 a month: about the same as the county. In Bozeman, 51% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Gallatin County, by unit size. To pay the 2-bedroom one ($2,109 a month) without spending more than 30% of your income, you would need to earn $40.56 an hour working full time.

HUD fair market rent for all of Gallatin County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,469 $28.25 $58,760
1 bedroom $1,612 $31.00 $64,480
2 bedrooms $2,109 $40.56 $84,360
3 bedrooms $2,920 $56.15 $116,800
4 bedrooms $3,487 $67.06 $139,480

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Bozeman

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Bozeman has 2 ZIP codes with their own.

For 2 bedrooms it runs from $1,940 in 59715 to $2,380 in 59718.

1 of the 2 is above the fair market rent for Gallatin County ($2,109).

  • 59715 $1,940$2,700
  • 59718 $2,380$3,300

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Bozeman when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Bozeman

HUD lists 20 buildings with rents for lower incomes in Bozeman. These are the largest.

  • Larkspur Commons 12421 North 12th Ave, Bozeman 59715 136 low-income homes · 1 bd: 34 · 2 bd: 68 · 3 bd: 34 · In service since 2017 · For families
  • Darlinton Manor 606 N 5th Ave, Bozeman 59715 100 homes, 95 low-income · Studio: 32 · 1 bd: 68 · In service since 2000 · For older adults (406) 587-2981
  • Legion Villa 1215 Durston Rd, Bozeman 59715 61 homes, 60 low-income · For older adults (406) 587-7612
  • Bridger Peaks Village 1483 N 15th Ave, Bozeman 59715 60 homes, 59 low-income · 1 bd: 45 · 2 bd: 15 · In service since 2004 · For older adults
  • Bridger Heights 802 N Grand Ave, Bozeman 59715 50 low-income homes · For families (406) 587-3921

See all 28 buildings in Gallatin County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Bozeman

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Gallatin County; none says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Bozeman

No down payment, repair or rent-help program on our list is for Bozeman or Gallatin County. The ones below are statewide in Montana: they work in Bozeman the same as in the rest of the state.

Which programs do I qualify for? All programs in Montana

  • Bond Advantage Down Payment Assistance

    Statewide in Montana

    Montana Board of Housing loan for up to 5% of the price (maximum $15,000) for the down payment, over 15 years with low payments and the same rate as the bond program's first mortgage; there is also a Plus version, 0% and deferred, for lower incomes. Offered by Montana Board of Housing (Montana Department of Commerce).

    RepayableDeferred

    See the program Official page

  • Mortgage Credit Certificate (MCC)

    Statewide in Montana

    Montana Board of Housing certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, up to $2,000 a year, while you live in the home; for first-time buyers, with a loan that is not from another Board program. Offered by Montana Board of Housing (Montana Department of Commerce).

    Tax credit

    See the program Official page

Housing counselors near Bozeman

The HUD-approved agencies closest to the center of Bozeman, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Human Resource Development Council of District Ix, Inc.

    32 S Tracy Ave, Bozeman · 1 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (406) 585-4895

  • Headwaters RC&D Area, Inc.

    65 E Broadway St, Butte · 75 miles away

    • Workshops for new owners
    • Pre-purchase counseling
    • and 2 more
    (406) 533-6784

  • Rocky Mountain Development Council

    200 S Cruse Ave, Helena · 78 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (406) 447-1680

Every agency in Gallatin County All counseling agencies in Montana

Help in Spanish near Bozeman

None of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Bozeman

HUD lists no housing authority with an office in Gallatin County. One in a neighboring county or the state’s may serve the area.

All housing agencies in Montana Source: HUD

Cities

Other cities in Gallatin County

These cities are also in Gallatin County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Gallatin County Housing in Montana

Nearby cities

The cities closest to Bozeman, with the typical home value.

Neighboring counties

If Gallatin County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Bozeman.

All guides
A mother holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Bozeman

Short answers with the numbers for Bozeman and all of Gallatin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Bozeman?

The typical home value in Bozeman is $687,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Gallatin County it is $667,600.

How much does it cost to rent in Bozeman?

Typical rent in Bozeman is $1,717 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Gallatin County is $2,109.

What is the FHA loan limit in Bozeman?

Bozeman uses the FHA limit for all of Gallatin County (2026): $718,750 for a one-unit home and $1,382,250 for a four-unit home.

How much property tax do owners pay in Bozeman?

The typical homeowner in Bozeman pays $4,183 a year, according to the U.S. Census Bureau. That is 0.61% of the home’s value; in Gallatin County, the rate is 0.59%.

Where can I find free help to buy or rent in Bozeman?

There is 1 HUD-approved counseling agency with an office in Gallatin County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).