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Featured local agent — Bozeman, MT
Sarah Mitchell
Compass Real Estate · Bozeman, MT
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Bozeman, MT Housing Market
The typical home in Bozeman, MT is worth $725,769, held roughly flat 0.2% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $626,875, -6.1% year over year (through May 2026). With 4.1 months of supply and homes going under contract in about 74 days, Bozeman is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $725,769 home is about $3,875/mo in principal and interest.
Key numbers for Bozeman, MT
Typical home value
$725,769
-0.2% in 12 months
Zillow, August 2026
Typical asking rent
$2,149/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$626,875
-6.1% year over year
Redfin, through May 2026
Days on market
74
Slow-moving
Redfin, through May 2026
Active listings
319
4.1 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$79,903
Home costs 9.1x income
U.S. Census ACS, 2023
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Bozeman a buyer's or seller's market?
Bozeman, MT is a leaning buyer's, based on 4.1 months of supply and homes selling in about 74 days. 4 to 5 months of supply is the neutral band: neither side holds a structural advantage, and outcomes turn on the individual property.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Bozeman housing market data show?
Every row below is Redfin's final published month for Bozeman, MT. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $626,875 |
| Median list price | $660,000 |
| Year-over-year price change | -6.1% |
| Median price per sq ft | $345/sq ft |
| Median days on market | 74 days |
| Active inventory | 319 listings |
| Months of supply | 4.1 months |
| Homes sold (that month) | 78 |
| New listings (that month) | 103 |
| Listings with a price cut | 17.2% |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Bozeman is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Bozeman is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Bozeman home prices moved?
Over the last three years the median sale price in Bozeman, MT fell 8.5%, from $684,900 to $626,875. The live Zillow value series has held roughly flat 0.2% in the last 12 months, which is the more current read now that Redfin's series has stopped. 17.2% of Bozeman listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Bozeman?
Priced off the typical home value of $725,769 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $145,154 | $580,615 | $3,875/mo |
| 5% | $36,288 | $689,481 | $4,601/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $3,875, that implies roughly $166,052 a year before you add taxes and insurance. The median household in Bozeman earns $79,903, about $86,149 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 9.1x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Bozeman in the next 12 months?
Tell us your timeline. We send the Bozeman market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Bozeman?
Typical asking rent in Bozeman, MT is $2,149/mo, against a typical home value of $725,769. That is a price-to-rent ratio of 28.1x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $3,875 a month — $1,725 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Bozeman?
Active listings in Bozeman, MT went from 310 in May 2025 to 319 in May 2026, a +2.9% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 358 | 121 |
| July 2025 | 370 | 107 |
| August 2025 | 328 | 99 |
| September 2025 | 304 | 72 |
| October 2025 | 312 | 61 |
| November 2025 | 294 | 51 |
| December 2025 | 278 | 43 |
| January 2026 | 256 | 42 |
| February 2026 | 279 | 80 |
| March 2026 | 285 | 90 |
| April 2026 | 310 | 99 |
| May 2026 | 319 | 103 |
Redfin, through May 2026
How does Bozeman compare to Montana and the U.S.?
Bozeman homes sell for $626,875 — 19% above the Montana median of $528,600. Against the national median of $410,700, Bozeman runs 53% higher. Year-over-year, Bozeman moved -6.1% against Montana's +1.5% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Bozeman, MT | $626,875 | -6.1% | 74 days |
| Montana statewide | $528,600 | +1.5% | 69 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Bozeman
What buyers should watch
- Months of supply, currently 4.1. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 17.2%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $726 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $725,769 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Bozeman listing goes under contract in 74 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- In the last published month Bozeman added 103 new listings against 78 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved -0.2% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Bozeman varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Bozeman
There are currently 319 homes listed for sale in Bozeman, Montana. The median listing price is $660K.
Active listings
319
Homes on market
Median list price
$660K
Avg. days on market
74
Days until sale
New this week
103
Newly listed
How much do homes cost in Bozeman by property type?
How the Bozeman, MT market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $799,000 | $388/sq ft | 35 | 56 days |
| Condo / co-op | $496,950 | $336/sq ft | 32 | 79 days |
| Townhouse | $533,000 | $337/sq ft | 10 | 96 days |
Who lives in Bozeman?
American Community Survey estimates for Bozeman. U.S. Census ACS, 2023
Population
55,042
Households
23,131
Median income
$79,903/yr
Median age
28.6 years
Owner-occupied
44.6%
Median home value
$614,900
Median gross rent
$1,611/mo
Mean commute
15.4 min
44.6% of occupied homes in Bozeman are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $614,900 against Zillow's $725,769 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,611/mo, below Zillow's $2,149/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Bozeman?
22 schools tracked · 8,395 students
The largest public schools serving Bozeman, MT by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Gallatin High School
Grades 9-12 · 1,479 students
Bozeman High School
Grades 9-12 · 1,265 students
Sacajawea Middle School
Grades 6-8 · 809 students
Chief Joseph Middle School
Grades 6-8 · 757 students
Hyalite Elementary
Grades PK-5 · 553 students
Emily Dickinson School
Grades PK-5 · 527 students
Meadowlark Elementary
Grades PK-5 · 511 students
Morning Star School
Grades PK-5 · 422 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Bozeman, MT?
Ordered by distance from Bozeman, not by size. Compare Bozeman side by side with any of them.
Bozeman housing market FAQ
Is Bozeman a buyer's or seller's market?
Bozeman, MT is currently a leaning buyer's. That read comes from 4.1 months of supply, homes going under contract in about 74 days in the last month Redfin published (May 2026).
How much do homes cost in Bozeman?
The typical home in Bozeman, MT is worth $725,769 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $626,875, about $345 per square foot.
Is Bozeman cheaper than the rest of Montana?
Bozeman's median sale price of $626,875 is 19% higher than the Montana statewide median of $528,600, and 53% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Bozeman?
Homes in Bozeman, MT spent a median of 74 days on market before going under contract, versus 69 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Bozeman?
At the current 30-year fixed rate of 7.03%, 20% down on a $725,769 home is about $3,875 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $166,052 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $79,903.
Are home prices rising in Bozeman?
The typical home value in Bozeman, MT held roughly flat 0.2% over the last 12 months, from $727,217 to $725,769 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Bozeman?
Bozeman ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Bozeman?
That depends on your timeline, not on a headline. What the data says today: Bozeman, MT is a leaning buyer's with 4.1 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 28.1x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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