For Many Montanans Housing Is Becoming Unaffordable

Affordable housing right now is at its lowest point of affordability since 1984.

There are lots of factors at play in this, from low incomes and high interest rates to a low supply of houses, all of which make this the worst time to buy a house.

Get our free mobile app

Having a family and buying a house has always been seen as a status symbol for attaining the "American Dream."

Today, that is becoming a harder dream to achieve, and there doesn't look to be any relief for those looking to buy anytime soon.

That's why it's sad that there are two towns in Montana that have made the list of the 25 places with the most overpriced homes.

READ NEXT: The Truth About The Housing Market In Montana

What Two Montana Towns Have Overpriced Homes

The website GoBankingRates looked at what towns had home values and home sales that were the most different and came up with the 25 towns with the most overpriced homes.

When it comes to which two towns in Montana are home to some of the most overpriced homes in America, there will be one town that immediately comes to mind and another that might come as a shock.

Bozeman, MT

Coming in at the number 5 spot for most overpriced homes is the town everyone points to lately as the example of everything that's gone wrong with Montana over the last couple decades.

Here's what GoBankingRates had to say about Bozeman:

• 2023 average median listing price: $959,611
• 2023 average home value: $620,961.02
• Price difference: $338,649.98

Bozeman has a population of 53,000, making it the fourth-biggest city in the state of Montana. Homes are on sale for close to $1 million, but if you already have a home there, it’s likely worth $340,000 less than that.

Helena, MT

If I had to guess the second town for overpriced homes, I would have said Missoula, Kalispell and others before thinking Helena was the 23rd most overpriced town for homes in America.

Here's what GoBankingRates had to say about Helena:

• 2023 average median listing price: $601,199.67
• 2023 average home value: $424,205.55
• Price difference: $176,994.12

Helena is the capital city of Montana and is surrounded by some beautiful sights, including the Missouri River, the Elkhorn Mountains and the Big Belt Mountains. With all of that gorgeous geography to take in, homes are worth just over $400K, on average — but buyers are asking for about $600K.

There are going to have to be some big changes to the housing market, not just in Montana but in America as a whole, if we're expecting the younger generation to be able to afford homes anytime soon.