What is Bozeman’s Cost of Living in 2022? That’s a Tough Question

If you talk to almost anyone in Montana, they'll tell you that Bozeman's growth is out of control. Sure, Bozeman is experiencing some growing pains, but it could be worse.

Not only is it difficult to find a place to rent in Bozeman, but the average monthly rent has been gradually increasing over the last few years.

Get our free mobile app

According to zumper.com, one of the largest rental platforms in America, the average rent for a 1-bedroom apartment in Bozeman is $1,700. That's a 10% increase compared to January 2021. You can find places that are less expensive, but it's rare.

Here's some basic math to calculate the cost of living in Bozeman if you're single and living in a 1-bedroom apartment. Most mortgage lenders will tell you that your rent or mortgage should be 1/3 of your monthly income. To find the cost of living, you need to multiply your monthly rent ($1,700) by 3. Then, multiply that number by 12.

$1,700 x 3 x 12 = $61,200

That means, working a 40-hour workweek, an individual would need to make $31.88/hour to achieve that financial balance.

Of course, many people in Bozeman choose to live with roommates to save money on the cost of living expenses, but due to the pandemic, I wouldn't be surprised if more people were deciding to live by themselves.

According to Dr. Gregory Gilpin, head of the Department of Agricultural Economics and Economics at Montana State University, accurately determining the cost of living in Bozeman is challenging.

We have to remember that the cost of housing not only includes the value of the house, but also the amenities within the community. Bozeman has a lot going for it and a lot of wonderful amenities. The cost of housing pays for all of it.

You also need to take into consideration the cost of utilities, transportation, child care, and groceries. The average cost of groceries has som risen 5-6% compared to January 2021. Nationally, the cost of goods overall has increased 7% due to inflation.

Many businesses in Bozeman have increased starting wages in an attempt to attract workers, which is a good sign for someone trying to make it in Bozeman on a limited income. However, that still falls short of our estimated hourly wage of $31.88.

Bozeman is a beautiful place and compared to other larger cities in Montana, it's incredibly unique. We're surrounded by mountains, rivers, wildlife, and other beautiful scenery that can't be found anywhere else in the world. All of that comes at a cost.