Bozeman, MT

Rent vs buy in Bozeman

Median home $604,900. A 1 bedrooms rents for $1,706 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,706; per month
Own the median home: $3,916; P&I, tax, insurance, upkeep
Owning costs extra: $2,210; per month, same metro

What a purchase actually costs

20% down payment$120,980
Mortgage at 6.5%$3,059
Property tax (0.60% of value)$302/mo · $3,629/yr
Insurance and upkeep (1.1%/yr)$554
Total monthly ownership$3,916

Months of leftover to save the down payment

At $1,814 left over a month, it takes about 67 months (5.6 years) to save $120,980 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.