Quick facts: Laurel, MT

Quick Facts

104.7
Cost of Living
above US average
7,203
Population
37.07
Crime Rate per 1000
above US average
$62,250
Median Income
below US average
$354,900
Median House Price
above US average
$2323.75
Average Rent
above US average
7%
Poverty Rate
below US average
3.5%
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 $62,250.

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Income Needed to Buy

βœ— Stretch
$111k/year
Based on $354,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $111k vs median $62,250
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Income Needed to Rent

⚠ Stretch
$100k/year
Based on $2323.75/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $100k vs median $62,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Laurel, MT

Laurel is a charming city located in Yellowstone County, Montana, just 15 miles west of Billings. As part of the Billings Metropolitan Statistical Area, Laurel serves as a suburb and offers a close-knit community atmosphere with the conveniences of nearby urban amenities. Known for its rich history, the city was founded in the late 19th century and has roots in the railroad and agricultural industries. The city is home to approximately 7,500 residents and features a vibrant downtown with local shops, restaurants, and parks, contributing to a welcoming small-town vibe. Outdoor enthusiasts can enjoy nearby recreational opportunities, including fishing, hiking, and biking along the scenic Yellowstone River. Laurel is also known for its strong sense of community, hosting various events and festivals throughout the year that reflect its cultural heritage. With a focus on family-friendly activities and an inviting environment, Laurel offers residents and visitors alike a relaxing and enjoyable experience in the beautiful Montana landscape.

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