Best places to buy rental properties in Montana

February 7, 2022
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Investing in Montana

Home to some of the fastest population growth in all of United States, Montana is surely a place to consider when thinking about your next property investment. With beautiful national parks nearby such as Yellowstone, Rockies, and more, there is endless hiking and natural scenery to enjoy. The rapid population growth also means there could be consistent demand for rental properties.

The Nophin team crunched the numbers and found the five best places to invest in Montana rental properties.

Statewide vacancy rates

MT Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Billings, MT

Billings is the largest city in Montana and has a stellar healthcare system.

  • Population: 117,116
  • Median household income: $60,032
  • Median 1-bedroom monthly rent: $950
  • Median listing home price: $389,000

Great Falls, MT

Great Falls is also called the "Electric City" due to its five hydroelectric dams in the area.

  • Population: 60,442
  • Median household income: $49,809
  • Median 1-bedroom monthly rent: $795
  • Median listing home price: $319,000

Helena, MT

Helena is the state capital of Montana and sits between two major national parks, Yellowstone and Glacier National Park.

  • Population: 32,091
  • Median household income: $60,074
  • Median 1-bedroom monthly rent: $900
  • Median listing home price: $498,000

Kalispell, MT

Kalispell is the fastest growing micropolitan area in America, according to the US Census Bureau.

  • Population: 24,558
  • Median household income: $47,750
  • Median 1-bedroom monthly rent: $1,250
  • Median listing home price: $672,000

Bozeman, MT

Bozeman is the third fastest growing micropolitan area in the US and is home to Montana State University.

  • Population: 53,293
  • Median household income: $59,695
  • Median 1-bedroom monthly rent: $1,800
  • Median listing home price: $899,900

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!


To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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