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Old 10-19-2020, 05:35 PM
 
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I knew my figure was somewhat dated for Bozeman. But that was a heck of a one month jump beyond the normal rate of increase.
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Old 10-20-2020, 07:25 PM
 
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Originally Posted by NW Crow View Post
I see 2 bedroom apartments from a few at $850 - $1000 per month to a lot between $1200 - $1600 to some at $2,000 per month, depending on age / quality / size / neighborhood / popularity. There is some availability but probably also lots of compdtition, especially for better units or better values.

Jobs? Can vary so much by person and skills. Talk to some possibilities and see what level of interest you get. Will need to be short / polite. Folks may not want to spend much time on something in advance that they probably get asked a lot about. But try.

The unemployment rate was very low before pandemic. I do not know current conditions. Some to a lot of people may be under-employed in their minds. The best / higher paying jobs will obviously have the most competition.

If you really want it, you may be able to get started but know what you want long-term and make judgment at some point if that job, that house is attainable. A fair number of folks will move away deciding the houses are too expensive and maybe the goal job just isn't coming.

It is one of the hottest markets in rocky mountain west. Some take advantage of that. More find it tough or beyond tough. Are you a top 10-20%er on economic competition or closer to average?

Median house sales price is $440k in Bozeman. Could be $500k next year. Could crash or keep going higher for awhile. Only $300k on average in Belgrade, for now. But some people don't want Belgrade and what that $300k buys. Look around and see how you feel about housing if you'd want to buy fairly soon. Could find homes below median, but how much below and are you willing to accept (possibly improve)?

How much more is Bozeman worth to you than Missoula, Billings, Helena, etc.? $5k / yr? $10k? More? Less? It is most expensive real city in MT. (Some resort areas are more.)
Hi thanks for your reply!im an esthetician so ill be working in a salon/spa setting so I need a place that gets a lot of foot traffic and tourists, which is why I was leaning towards Bozeman. We looked into going to Billings but found we weren't too interested in it and its too far from where he'll be attending school. we would like to move about 30 minutes outside the city. we've looked at Belgrade, Livingston and a couple other close towns to Bozeman. recently visited Bozeman and think its beautiful, I decided not to walk in to any salons and ask questions because didn't want to disturb them especially since everything is appt only and limited people allowed inside.
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Old 10-20-2020, 07:34 PM
 
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thanks everyone for the reply's its really helped! the reason wed like to move to Montana is because my home town just isn't the same anymore and he just got out of the military and would like to do school at Montana state. this once small town in Florida used to be amazing, everyone knew everyone, dirt roads everywhere. but now its become one of the number one places to retire! it is now filled with snobby middle aged woman who think its okay to talk to the locals any way they want. most folks I grew up with have moved across the state to get away from it! It just don't feel like home anymore and we would like to start somewhere new, smaller town. only problem is I still need to be fairly close to the city for work. I am an esthetician and rely on cities and foot traffic for financial stability. ideally we would like to move about 30-45 minutes outside the city to somewhere cheaper but still be able to go to work/school.
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Old 10-21-2020, 05:50 AM
 
Location: North Dakota
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Originally Posted by 1234kylie9801E11 View Post
thanks everyone for the reply's its really helped! the reason wed like to move to Montana is because my home town just isn't the same anymore and he just got out of the military and would like to do school at Montana state. this once small town in Florida used to be amazing, everyone knew everyone, dirt roads everywhere. but now its become one of the number one places to retire! it is now filled with snobby middle aged woman who think its okay to talk to the locals any way they want. most folks I grew up with have moved across the state to get away from it! It just don't feel like home anymore and we would like to start somewhere new, smaller town. only problem is I still need to be fairly close to the city for work. I am an esthetician and rely on cities and foot traffic for financial stability. ideally we would like to move about 30-45 minutes outside the city to somewhere cheaper but still be able to go to work/school.
If you don't like those qualities about your current city I'd give Bozeman a pass. That's pretty much how Bozeman has been for 20 years.
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Old 10-21-2020, 11:55 PM
 
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Originally Posted by NW Crow View Post
I knew my figure was somewhat dated for Bozeman. But that was a heck of a one month jump beyond the normal rate of increase.
Just wait for next month's jump... Most homes around Downtown are over $1M right now.
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Old 10-24-2020, 07:11 PM
 
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I just saw median home price there hit $710k (article in another thread- "large acreage"). I think for August.

Sellers moving out further out or moving out completely? Buying back in same market?

Renters market getting worse too. More zhort and long-term demand, probably less supply.

Last edited by NW Crow; 10-24-2020 at 07:49 PM..
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Old 10-24-2020, 08:23 PM
 
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Bozeman metro has grown by over 3,000 per year the last few years. How many will it be for this calendar year and next? Did the pandemic push more of the growth into late in the year? How much was that vs. more total newcomers? New data on growth should be available by next spring / summer. Will the annual growth be over 5k? Will it be similar, more or less in 2021? Hard to say at this moment, at least for me from outside it.

Bozeman metro was previously expected to grow to around 160k by 2045. Might be more and / or get there faster. Or maybe not, if real estate prices inhibit or crash.

Should be lots of work of many kinds. The issues are more finding housing and affording it. How you spend outside of housing is important. Some will manage, some won't.

Last edited by NW Crow; 10-24-2020 at 08:35 PM..
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Old 11-16-2020, 06:36 PM
 
186 posts, read 199,961 times
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Quote:
Originally Posted by NW Crow View Post
I just saw median home price there hit $710k (article in another thread- "large acreage"). I think for August.

Sellers moving out further out or moving out completely? Buying back in same market?

Renters market getting worse too. More zhort and long-term demand, probably less supply.

Bozeman metro has grown by over 3,000 per year the last few years. How many will it be for this calendar year and next? Did the pandemic push more of the growth into late in the year? How much was that vs. more total newcomers? New data on growth should be available by next spring / summer. Will the annual growth be over 5k? Will it be similar, more or less in 2021? Hard to say at this moment, at least for me from outside it.

Bozeman metro was previously expected to grow to around 160k by 2045. Might be more and / or get there faster. Or maybe not, if real estate prices inhibit or crash.

Should be lots of work of many kinds. The issues are more finding housing and affording it. How you spend outside of housing is important. Some will manage, some won't.
Well, I've got a good handle on things here, I work for myself in a few different areas which are all relevant to this subject. It is an enormously complex thing which is happening, and I'm just a guy, not some college professor, so I'll do my best to explain.

-People have this view of Montana which is based off of TV and the internet. They think it is like the Wild West or something, based on shows like Yellowstone, and numerous YouTube blogs. These are entertainment, and one quickly gets slapped in the face by reality when they move here. Some people do well here, some get depressed after one winter and have to leave. There's a reason why some animals hibernate through winter in the north country. It's like they want to feel some of that romantic Montana "idea" and so jump at the chance to move here.

-When people move here on a whim, and then the wind blows them back to where they came from, that increases the price of real estate, with each transaction generating a higher and higher premium in real estate sales. This is bec the market is good, and people don't want to lose money. That's just a part of why it is expensive.

-Politics. In Bozeman, people who are moving away from the coasts, escaping liberal politics, don't understand that they would be better out in the countryside, where their politics mesh well. But they would also get beaten down by the weather, as they are conditioned to things like shopping at Trader Joes and Costco, and driving on pavement with no ice and snow. So naturally they will first look to Bozeman, or Missoula, or somewhere with an environment they are familiar with. This creates unease, as we previously were a purple state, and now things are getting "all mixed up" again. Sometimes these people will leave these towns because they just can't handle it.

-We do pay extra for all the scenery, fresh air, clean water, low low crime, and all that. It is definitely reflected in real estate pricing, but what most people don't realize is that this state is almost 80% privately owned. Whenever you have have a situation like this: low supply, but high demand, then prices will always be high. I think long time residents here are familiar with the constant battle to open public lands and maintain stream access. This is something that liberals and conservatives in the state can both agree on.

-Bozeman does have a University which generates some well-educated, well-qualified candidates, which do their best to not leave the area, because, where else is better? An inner city? That is some phased out idea, from the 90's and 2000's. The whole "graduate and move to a big city for a job" idea is played out and old. No one cares about that. I am relatively young, and a graduate of MSU, and forewent a career in my degree area to raise my family here and enjoy the outdoors with them. There really is no better place on this Earth to raise an outdoor oriented family. I will be forever fortunate for that... But it does suck to see so many families struggling who I share this ideal with.

-Our economy is strong. Always has been, and I don't see it dying out even with Covid. We have the University, tourism, high tech jobs, and many entrepreneurs here. In fact the entrepreneurial mindset is about the only way to survive here these days. I don't know how other people do it without a trust fund.

But to answer your other questions, I think Bozeman's population is around 55-60,000 unofficially right now. I just feel like the current count is way too low. I think many home owners are moving out of town, and are retiring. Many of these folks are older, and buying up homes in warmer climates. Some have a few homes here, bought cheaply decades ago, and are going to split their time between the two areas. Many others are just cashing out to live elsewhere, which is more affordable and have higher paying jobs. There are always college residents who are in a constant state of flux. You'd be surprised at how many college educated post-grads move here without doing basic research on the area first, and only realize too late that they can't afford housing.

I'm predicting that the growth will be greater since Covid. People are flocking here think we are some isolated pocket in the country, but we have all the same problems as everywhere else, just with a different flavor.
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