I was reading today in the news that in 1970s, when rents were $75 a month for a three-bedroom apartment in south Bozeman, everyone was happy and not thinking about to purchase a home. Renting was the best option.
Today is totally different, the mind set change as the rent grows higher and higher.
Today the tenants are talkingabout the difficulties of paying rent in Bozeman from apartment kitchen. With jobs offering $7 an hour doesn't leave enough for all bills.
Over the past four decades, the 59-year-old lady, IHOP hostess has watched the valley change and rent prices soar.
Today, her $7 an hour pay doesn't come close to what she needs rent a place in the Gallatin Valley, where a one-bedroom apartment averages $575 a month.
"That's just too high," she said.
Montana's soaring home prices have spilled over into the rental market, sending monthly rents higher all across the state.
But while data suggest that housing prices have gone down over the past year, including in the Gallatin Valley, rental prices have stubbornly stayed level or continued to increase, putting an extra strain on those unable to afford home ownership.
Recently study of Montana rental prices found that a typical two-bedroom apartment in Bozeman cost $700 a month. By comparison, similar apartments in Great Falls cost less than $500 a month.
Rents like the ones in Bozeman can price low-income families out of the market.
The Human Resource Development Council in Bozeman, a nonprofit organization that helps low-income people, reported slightly different average monthly rents, with a two-bedroom apartment coming in at about $650 a month. But even that is unaffordable to anyone who darns less than $12 an hour.
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