Bozeman’s economy is one of the strongest in the State of Montana with tourism and the high-tech industry making a big splash in the area. One in every 10 new businesses formed in Montana come from Gallatin County, making us first in business growth in the state. Home to Montana State University, Bozeman’s high quality of living attracts and retains excellent employees who enjoy our area’s unique recreational opportunities, a nationally-recognized public school system and cultural amenities that exceed cities twice our size. There’s simply no better place to live, work, and play.
Gallatin County and Bozeman residents’ housing costs are consistent with national values, although considerably above the statewide averages. Assuring the proper supply to meet residents’ demand for different types of housing is vital to accommodate the influx of new residents to our region. Balancing the needs of local renters and homeowners, as well as seasonal workers and residents is especially critical to ensure the affordability of our region into the future.
Affordability – Potential Homeowners
For residents that are homeowners, trends indicate that home purchaes have stayed steady for both Gallatin and Park County over time, while refinancing has increased. This is likely due to a drop in interest rates on home mortgage and can be beneficial for those that are already homeowners, but has the potential to prevent prospective renters from buying a home. With fewer entry-level properties are left on the market, greater scarcity of affordable housing for first-time buyers could result.
Excellent personnel are drawn to and kept by Montana State University, Bozeman because of the area’s exceptional recreational options, nationally acclaimed public education system, and cultural advantages that surpass those of cities twice our size.