Rent vs buy in Missoula, MT

In Missoula, Montana, the typical rent is $1,622 /mo and the typical home costs $563,970.

Rent

Renting comes out ahead by $89k over a 7-year period

Today's mortgage rate applies, along with 20% down and Missoula's typical rent and home value. The break-even point falls in year 21.

Clearly labeled opinion with the math shown. These are estimates, not quotes. Adjust any number and the stamp updates.

Renting comes out ahead by: $89k
Break-even point: In year 21
Actual cost of owning: $4,878 /mo

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Missoula's typical home value and rent form the stamp's basis. Changing the rent, price or number of years can reverse the result.

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Is renting or buying cheaper in Missoula?

Renting costs $88,839 less over 7 years when you include the money returned after you sell. For the first 20 years, renting costs less. By year 21, owning catches up.

Renting. Owning. Year-by-year net cost so far.

Average rent compared with the mortgage payment in Missoula

Every monthly cost for year 1 appears here at Missoula's typical price. Rent and the mortgage don't tell the whole story.

Each month, year 1	Amount	What it is
Rent	$1,622	All of it, every month
Mortgage payment	$3,075	$2,710 of it is interest in year 1
Property tax	$442	0.94% of the value a year
Insurance	$104	Census median for the city
Upkeep	$470	1% of the value a year
Owning, cash out	$4,091	$365 of it builds equity
Lost return on the down payment	$917	At 8.3% a year, this is what the cash would earn
Buying costs, spread out	$235	3.5% of the price over 7 years
True cost of owning	$4,878	Cash paid, minus the equity portion, plus the two amounts listed above

The figures behind Missoula's result

Typical home valueZillow ZHVI, September 2026: $563,970
Typical rentZillow ZORI, September 2026: $1,622 /mo
Down payment20% avoids private mortgage insurance, which the engine does not model: 20%
Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Home price growthFHFA house price index, Montana, 1995 to 2025: 5.3% a year
Rent growthCPI rent of primary residence, yearly growth 2006 to 2026: 3.5% a year
Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025: 8.3% a year
Property taxCensus ACS 2020-2024, Missoula: 0.94% of value
Home insuranceCensus ACS 2020-2024, Missoula: $104 /mo
MaintenanceFannie Mae, low end of 1% to 4%: 1% of value a year
Buying costsFreddie Mac, middle of 2% to 5%: 3.5% of price
Selling costsAgent commission plus closing costs: 6% of price

What could change Missoula's result?

With everything else unchanged, each line marks where Missoula's 7-year verdict changes.

Renting comes out ahead when

The calculation uses 5.3%, Montana's long-run rate, for home prices growing slower than 7.1% a year.
The mortgage rate remains above 4.42%.
For a similar home, monthly rent is under $2,570 (typical here: $1,622).
Before year 21, you move.

When buying is the better choice

Home prices rise at a yearly rate above 7.1%.
You lock in a rate under 4.42% for your mortgage (today's is 7.24%).
You would pay over $2,570 a month to rent the same home.
You remain for 21 years or longer.

Missoula and 812 cities: a comparison

Measure	Missoula	Median city
Typical home value	$563,970	$422,451
Typical rent	$1,622 /mo	$1,837 /mo
Price-to-rent ratio	29.0 (#79 of 813)	18.5
Home prices, last 10 years	7.6% a year	6.2% a year
Rents, last 5 years	3.8% a year	4% a year
Property tax	0.94%	0.87%
Households that rent	53%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

A look at other Montana cities

Rent. In Billings, MT, renting wins by $43k.
In Great Falls, MT, renting comes out ahead by $14k.
In Bozeman, MT, renting comes out ahead by $80k.

Montana rent vs buy: statewide figures