Quick facts: Red lodge, MT

Quick Facts

104.7
Cost of Living
above US average
2,510
Population
7.97
Crime Rate per 1000
below US average
$39,472
Median Income
below US average
$570,000
Median House Price
above US average
$2000.0
Average Rent
above US average
10%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $39,472.

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Income Needed to Buy

βœ— Stretch
$179k/year
Based on $570,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $179k vs median $39,472
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Income Needed to Rent

⚠ Stretch
$86k/year
Based on $2000.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $86k vs median $39,472
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Red lodge, MT

Red Lodge, Montana, is a charming mountain town nestled at the foothills of the Beartooth Mountains. Known for its stunning natural scenery, it serves as a gateway to the Beartooth Pass and Yellowstone National Park, making it a popular destination for outdoor enthusiasts year-round. With a population of approximately 2,100, Red Lodge retains a small-town feel, offering a friendly community atmosphere. The town boasts a rich history, highlighted by its mining roots in the late 19th century, which is showcased in the historic downtown area lined with quaint shops, galleries, and restaurants. Outdoor activities are abundant, with opportunities for hiking, fishing, skiing, and snowboarding in the surrounding areas. The Red Lodge Mountain Resort attracts winter sports enthusiasts, while summer brings opportunities for biking and wildlife viewing. Red Lodge also hosts various annual events, including the Red Lodge Rodeo and the Beartooth Bike Rally, both celebrating the town's culture and outdoor lifestyle. With its picturesque landscape and access to numerous recreational activities, Red Lodge is a hidden gem in Montana that appeals to both residents and visitors alike.

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