Cost of Living in Lake County, Montana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake County ranks #2,506 of 3,144 counties for affordability (bottom 20%)
Data Story
About Cost of Living in Lake County, Montana
Recreational living carries a premium
Lake County's rent-to-income ratio of 17.1% is the highest across all eight counties and well above the national average, with median household income of $61,965 trailing the nation by $12,790. The draw of lakefront living commands higher housing costs relative to local earnings.
Steepest housing cost burden statewide
Lake County's 17.1% rent-to-income ratio significantly exceeds Montana's 15.9% average, making it one of the state's most unaffordable counties. The median rent of $884 reflects demand from recreation-focused migrants.
Premium for amenities and views
Lake's $884 rent is the second-highest in the group after Jefferson's $886, and the $369,200 median home value trails only Granite's $339,500. Owner costs of $1,012 monthly are the group's highest, reflecting the recreational premium.
Lifestyle costs eat the largest share
Lake County residents pay $884 in rent or $1,012 in ownership costs on a median income of just $61,965, consuming 17.1% of income. The county's natural beauty and recreational access command prices that strain local budgets.
Beautiful but pricey for locals
Lake County's 17.1% housing ratio is the group's highest—you're paying for views and lifestyle, not local wages. Relocate here only if you're bringing significant income to support the premium or are investing in seasonal property.
Cost of Living Advisory: Lake County
Affordability Verdict
Lake County is affordable for renters, with a median gross rent of $884/month representing approximately 17.1% of median household income. The rent burden (GRAPI) stands at 25.0%.
Rent vs. Own
At $884/month rent versus $1,012/month in owner costs, renting is roughly $128/month cheaper — a 13% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $35,360/year. For owner costs at the 28% rule, the required income is roughly $43,371/year. With a median household income of $61,965, most households can comfortably afford rent here. Notably, 25.0% of renter households in Lake County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Prairie County where rent averages $827/month, Lake County is approximately 7% more expensive.
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
17.1%
of gross income
Max Housing (28% Rule)
$1,446
per month
Owner Cost Burden
19.6%
of gross income
The median home in Lake County may be a stretch
Median home value is $369,200. Estimated monthly cost: $2,947 vs. your max of $1,446.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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