Cost of Living in Petroleum County, Montana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Petroleum County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Petroleum County ranks #3 of 3,144 counties for affordability (top 0%)
Data Story
About Cost of Living in Petroleum County, Montana
Petroleum County: affordable rents, tight incomes
Petroleum County's rent-to-income ratio of 15.6% sits just below the national average, despite a median household income of $59,318 that trails the U.S. median by $15,437. Renters here enjoy relatively manageable housing costs at $769 monthly, giving the county a surprising affordability advantage despite lower wages.
Nearly matches Montana's affordability baseline
Petroleum County's 15.6% rent-to-income ratio sits just beneath Montana's 15.9% state average, making it one of the state's more balanced housing markets. The median rent of $769 runs notably below the state median of $825, offering renter-friendly conditions.
Most affordable rents in the region
Petroleum County's $769 median rent undercuts Musselshell County ($865) by $96 and Park County ($927) by $158, making it the rental bargain of the cluster. Despite similar incomes, Petroleum County renters stretch their dollars furthest here—a meaningful advantage in rural Montana.
Renters and owners share similar burden
Petroleum County renters pay $769 monthly (15.6% of median household income of $59,318), while homeowners spend $600 monthly (12.1% of income). This county uniquely distributes housing costs equitably: both renters and owners maintain manageable expense ratios compared to state and national patterns.
Petroleum County's rental value stands out
If affordable rents are your priority, Petroleum County delivers at $769 monthly—among the lowest in rural Montana while maintaining median home values around $173,700. Compare this value to pricier Park County or consider Powder River County's even lower rents for maximum savings.
Cost of Living Advisory: Petroleum County
Affordability Verdict
Petroleum County is affordable for renters, with a median gross rent of $769/month representing approximately 15.6% of median household income. The rent burden (GRAPI) stands at 19.0%.
Rent vs. Own
The median rent in Petroleum County is $769/month, while owner costs run $600/month. Owning saves approximately $169/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,760/year. For owner costs at the 28% rule, the required income is roughly $25,714/year. With a median household income of $59,318, most households can comfortably afford rent here. Notably, 19.0% of renter households in Petroleum County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Montana, Petroleum County is less affordable than Dawson County by roughly 7% ($769/mo vs $823/mo).
Affordability Calculator
See how your income compares to housing costs in Petroleum County
Rent Burden
15.6%
of gross income
Max Housing (28% Rule)
$1,384
per month
Owner Cost Burden
12.1%
of gross income
The median home in Petroleum County may be a stretch
Median home value is $173,700. Estimated monthly cost: $1,387 vs. your max of $1,384.
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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