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City Report · MT

Laurel

Pop. 7,215·11th most expensive in Montana·One of the most affordable rental markets in the US
Median rent (all units)
$1,240/mo
Year-over-Year
Stable
Month-over-Month
-3.6%
vs US Median
-$722
Falling (Monthly)
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Most AffordableMost Expensive
Laurel · $1,240
More affordable than 91% of US cities · National median $1,962/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,240/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$50,000/yr
Local median income
$68,474/yr
Based on the 30%-of-income rule using Laurel's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,000
1 BR
$1,040
2 BR
$1,350
3 BR
$1,860
4 BR+
$2,090
Fair Market Rent (HUD)
$1,350/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,240 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$14,880/yr
At $1,240/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -3.6% MoM), not inventory.
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Demographics

Who lives here

Laurel, MT is majority owner-occupied, 20.8% of residents hold a bachelor's degree or higher.

Population
7,215
Median income
$68,474
Median age
37.1
Renters
41.3%
Age distribution
23.4%
22%
26.4%
13.7%
14.5%
Under 1823.4%
18–3422%
35–5426.4%
55–6413.7%
65+14.5%
Gender
50.5%
49.5%
Male50.5%
Female49.5%
Race & ethnicity
86.8%
White86.8%
Hispanic8.2%
Asian2.1%
Other2.5%
Education (25+)
37.6%
36.9%
20.8%
No HS diploma4.7%
HS diploma37.6%
Some college36.9%
Bachelor's+20.8%
Housing tenure
58.7%
41.3%
Owner58.7%
Renter41.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Laurel, MT has changed in 5 years

Income
$59,444 → $68,474
up 15.2%
Population
7,164 → 7,215
up 0.7%
Renter share
33.4% → 41.3%
+7.9 pts
Bachelor's+
19.1% → 20.8%
+1.7 pts

Local incomes tracked alongside that move, going from a median of $59,444 in 2021 to $68,474 more recently. Renters now make up 41.3% of households, compared with 33.4% five years ago.

Community

Discussions about Laurel

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View Laurel rent history (2015–2026) →
Salary vs rent

Can you afford rent in Laurel on your salary?

At $1,240/mo, how Laurel rent compares to typical pay (30% rule).

By apartment size

Laurel rent by bedroom count

Median rent for each apartment size in Laurel. Click any size for full breakdown.

Local insights

Tips for renters in Laurel

About renting in Laurel, MT

Last updated: August 17, 2026

The median rent in Laurel is $1,240/mo as of August 2026. A studio apartment averages $1,000/mo while a 2-bedroom runs $1,350/mo. One-bedroom apartments average $1,040/mo and 3-bedroom units go for $1,860/mo.

At 22% of local median household income ($68,474/yr), Laurel ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Laurel an affordable city for renters?

Laurel is considered very affordable for renters. At $1,240/mo, rent takes approximately 22% of the local median household income ($68,474/yr). The standard benchmark is 30%. Laurel falls comfortably within that range.

How much income do you need to rent in Laurel?

To keep rent at or below 30% of gross income, you would need to earn at least $50,000/year (~$24/hour full-time) to afford the median rent of $1,240/mo in Laurel. The local median household income is $68,474/yr, meaning the typical Laurel household meets that threshold.

Is rent going up or down in Laurel?

Rent in Laurel has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Laurel rent compare to other cities in Montana?

Laurel is one of the more affordable cities in Montana for rent, ranking #11 out of 12 tracked cities at $1,240/mo.

What percentage of Laurel residents rent vs. own?

According to Census data, approximately 41.3% of Laurel households are renters, while 58.7% are owner-occupied. Laurel leans toward homeownership, which can mean a smaller rental inventory.

How does Laurel rent compare to the national average?

Laurel's median rent of $1,240/mo is $722 (37%) below the US national median of $1,962/mo. Within Montana, it ranks #11 out of 12 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,240/mo, rent takes ~22% of Laurel's median household income ($68,474/yr). The standard benchmark is 30%.

Laurel 22%Benchmark 30%
State income tax4.7%
Run the Laurel affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Laurel, MT

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