Many people choose Montana for its open spaces and laid-back lifestyle. But is there more to Big Sky Country than just a home on the range? Read on to find out more about its quality of life, economic outlook, and housing forecast.
It’s a life many of us want: To have a home on a huge property looking across a range at an open sky. It’s why so many people are choosing to move to Montana. But there’s more to the story of Montana’s booming population growth. The state has an impressive jobs market and an ideal mix of urban and rural living.
Here are some key reasons you should consider moving to Montana – including information about its general quality of life, economic outlook, and housing market forecast for 2019. Want to learn more? Keep reading.
Top 5 Reasons to Move to Montana
1. A Booming Jobs Market
One of the big draws for people moving to Montana is its booming jobs market. Last year, the state created nearly 5,000 new jobs, and it has been one of the top five fastest states in terms of wage gains. That’s giving more buying power to residents so they can enjoy all the state has to offer.
2. Affordable Access to Public Universities
The demand for workers in the state has created a need for strong educational institutions. Montana has many affordable educational opportunities at publicly-funded schools across the state. What’s more, the state-funded schools are near the top of their class. In fact, Montana State University is considered one of the best public universities in the Northwest.
3. It’s Big Sky Country
If you’re looking for open space, then Montana is the place for you. Montana is one of the least densely populated states in the country. But it also has cities like Billings, Helena, and Missoula with thriving night scenes and restaurants.
4. No Sales Tax and Low Property Taxes
The good news for anyone looking to move to Montana is that the property tax is much lower than the national average. A bonus: there’s no sales tax on goods and services, and Montana has one of the lowest income tax rates in the U.S.
5. Picture Perfect Western Towns
When it comes to places to live, the state has something for everyone. If you want an urban environment, there’s Bozeman, a small town with a city feel. And there are more than enough properties far enough out of the way for those who just want to get away from it all.
Quality of Life
One of the many reasons people choose to move to Montana is because of its quality of life. This is a state for people who love the outdoors. One day you can be fly-fishing, the next day you could be golfing, hunting or rock climbing.
The number of outdoor activities is almost endless in summer and winter alike. There’s horseback riding, camping, and white water rafting when it’s warm. When the temperature dips, get out your snowshoes and snowboards. It’s time to head to the mountains.
If you’re looking for a poetry slam, libraries or theatres, then you’ll want to consider looking to buy in a city like Missoula or Helena, which have the vibrancy of urban centers while keeping a college town charm.
Economic Outlook in Montana
Montana’s workers are in high demand in expanding industries like agriculture, tourism, and mining. There are also jobs in timber and, yes, even on ranches. This is ranch country, after all.
The state also tries to foster a business atmosphere that allows entrepreneurs to thrive. Last year, it added almost 3,000 new businesses. That’s great for workers. Almost 45,000 people were employed in the state by businesses created in just the last five years.
Montana is also trying to support its demand for workers by working with local schools and universities. There are also public-private partnerships aimed at recruiting people into paid training programs.
The state’s mining industry saw has seen its earnings grow year-over-year, adding new jobs in areas around Billings. There has also been healthcare expansion across the state.
The state has also gone after high-tech industries in Gallatin, Missoula, and Yellowstone counties. But manufacturing continues to be a strong base for the state’s economy. It has seen rapid employment growth since 2017.
Montana’s Housing Market Forecast
If you’re looking for the perfect home on the range, then look no further than Montana. It has a home for almost anyone’s budget.
You can buy a property in Blaine County for less than $60,000. If you have a bigger budget you may want to consider Wilbaux County, which has listings topping more than $650,000.
The median value of a home in Montana is about $99,500. But again, this varies from location to location. For example, there are neighborhoods in Bozeman where the median sales price is about $400,000.
This is a state with some good opportunities for homebuyers. Real estate analysts expect the housing market to grow into the foreseeable future. With an expanded inventory, sellers are willing to negotiate for good deals.
Thinking of Buying a Home in Montana?
Montana’s housing market has some good opportunities right now. But finessing the complexities of its varied market – everything from farms to condos – isn’t always easy.
That’s why it’s always prudent – financially and because you want to find your dream home – to consult with an experienced real estate agent if you’re looking to buy a new home. They will help you find a home that fits your budget and lifestyle.