Bozeman, Montana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Bozeman, Montana rental market.
Bozeman, Montana
Average Apartment Rent in August 2022
$2,136
Bozeman, Montana |Average apartment rent trend
Bozeman, Montana| Average apartment rent
Bozeman, Montana | Apartment rent ranges
At 47.87%, apartments priced Over $2,000 represent the bulk of Bozeman, Montana rentals, while condos priced $500 - $700 hold the lowest share of the market – 1.8%.
Bozeman, Montana | Housing tenure**
Renters take up 57% of Bozeman, Montana real estate, occupying a total of 11,737 units, while homeowners live in 8,720 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$43,821
Average household size of renter-occupied housing units**
2.11
Rental vacancy rate**
3.2%
Bozeman, Montana | Renter-occupied housing units by no. of bedrooms**
There are 5,715 rentals in Bozeman, Montana with 2 beds making up the highest share of the market, at 49%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 148 units. Overall, the median number of rooms in Bozeman, Montana homes for rent is 4.
Bozeman, Montana |Renter-occupied units by age of householder**
Most condos for rent in Bozeman, Montana are occupied by residents in the 25 - 34 years age group (33%), followed by those in the 15 - 24 years age group (32%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Bozeman, Montana | Renter-occupied housing units by family type**
Bozeman, Montana | Renter-occupied housing units by the presence of own children**
A total of 3,703 apartments for rent in Bozeman, Montana, or 32% of all rentals are family households. Additionally, 13% of rental homes include children under the age of 18 – that’s 1,544 units. All in all, the median size of a renter-occupied household in Bozeman, Montana is 2.11.
Bozeman, Montana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 48% of the rental market. In contrast, residents with less than a high school degree reside in 1% of the homes for rent in Bozeman, Montana.
Bozeman, Montana | Renter-occupied units by year structure built**
The highest share of Bozeman, Montana apartment rentals, namely 17% or 1,953 units, were Built 2000 - 2009, followed by those Built 1990 - 1999 (15%, 1,724 units), and the ones Built 1980 - 1989 (14%, 1,628 units).
Bozeman, Montana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most Bozeman, Montana renters (60%) moved in 2015 to 2016, while only 7% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Bozeman, Montana condos for rent is 2017.
Bozeman, Montana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 39% of Bozeman, Montana renters have 1 vehicle available per household, 34% of them have 2 vehicles available, and 14% have 3 vehicles available.
Bozeman, Montana | Means of transportation to work of householders living in renter-occupied housing units**
Bozeman, Montana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Bozeman, Montana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Bozeman, Montana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates
