Montana News
Montana’s housing market named least affordable in the country
With Montana News, I'm Elinor Smith. Montana's housing market is the least affordable in the country. That's according to data analysis by the National Association of Realtors. MTPR's John Hooks has more. According to data from Zillow's Housing Index, average home prices have nearly doubled since the spring of 2020. A National Association of Realtors analysis shows Montana has become the least affordable market in the country in that time, surpassing states like California and Idaho. It compares average home prices to a state's average income. Montana has the largest gap between the two. The picture is not great for renters, either. The Montana Budget and Policy Center found nearly a quarter of Montana renters spend more than half of their monthly income on rent. The National Low Income Housing Coalition estimates Montana needs more than 30,000 affordable rentals to meet demand. Governor Greg Gianforte's Housing Task Force last month released a series of policy recommendations for lawmakers to consider when they reconvene in January. In Butte, I'm John Hooks.