Bozeman, MT Rental Market
Bozeman has experienced the most dramatic transformation of any small city in the Mountain West over the past decade, driven by a massive influx of remote workers, tech entrepreneurs, and affluent buyers drawn by Montana State University, proximity to Big Sky Resort and Yellowstone National Park, and a Western lifestyle that has become aspirational for high-net-worth individuals across the country. With the highest rent growth rate in our Montana coverage at 5.0% year-over-year, Bozeman commands a market score of 7 despite its constrained yield profile.
Get a rent estimate for an address in BozemanAverage Rent in Bozeman, MT
$1,650
per month · 2026-06
Market Score
Key Facts — Bozeman, MT Rental Market
- Average rent in Bozeman, MT:$1,650/mo
- Median rent:$1,518/mo
- Rent range:$825 – $3,650/mo
- Most common rental (2 bedrooms):$1,450/mo
- Active listings:420
- Avg days to lease:28 days
- Year-over-year change:+5.0%
- Median home value:$580,000
- Est. gross annual yield:3.4%
- Data as of:2026-06
Rent by Bedroom in Bozeman, MT
Average monthly rent for each bedroom type based on current active listings in Bozeman.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $1,175/mo |
2 Bedrooms | $1,450/mo |
3 Bedrooms | $1,850/mo |
4 Bedrooms | $2,275/mo |
5 Bedrooms | $2,625/mo |
Bozeman Rental Market Statistics
Key indicators from the current Bozeman, MT rental market.
420
Available now in Bozeman
28
From list to lease
$1.22
Average across listings
1,350 sq ft
Typical rental size
$825 – $3,650
Min to max active listings
+5.0%
Avg rent vs. prior year
Investing in Bozeman, MT Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$580,000
Typical purchase price in Bozeman
Est. Gross Annual Yield
3.4%
Before expenses & vacancy
Avg Monthly Income
$1,650
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Bozeman for a full cash-flow breakdown including all costs.
Bozeman, MT Rental Market FAQ
Common questions about renting and investing in Bozeman, MT.
What is the average rent in Bozeman, MT?
The average rent in Bozeman, MT is $1,650 per month as of 2026 — the highest in our Montana coverage. One-bedroom apartments average $1,175/mo, two-bedrooms average $1,450/mo, and three-bedroom homes average $1,850/mo. Downtown Bozeman and the South University neighborhood command the highest rents, while the Story Mill and Midtown areas offer relative value among properties still within walking distance of Bozeman's downtown core.
Is Bozeman, MT a good place to invest in rental property?
Bozeman's 3.4% estimated gross yield is low for its size, reflecting a $580,000 median home value that has surged with remote-worker migration. However, its 5.0% year-over-year rent growth is the fastest in our Montana coverage and among the highest in the broader Mountain West, reflecting exceptional and durable demand. Investors focused on appreciation and rent growth trajectory will find Bozeman compelling despite its compressed near-term yield.
How competitive is the Bozeman, MT rental market?
Bozeman averages 28 days on market with approximately 420 active listings — remarkably fast for a city of 65,000. Geographic constraints (mountains on three sides, agricultural preservation on the fourth) limit supply growth, while demand from MSU students, tech workers, and lifestyle migrants continues to outpace new construction. Quality rentals near downtown or MSU's campus often receive multiple applications within the first week of listing.
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