News

Actions

Economic study shows wages falling behind housing costs in Gallatin, Park Counties

Posted at 2:57 PM, Apr 04, 2019
and last updated 2019-04-04 18:03:21-04

BOZEMAN – An economic study that took a look at both Gallatin and Park counties shows something that many of us have started to see.

According to Prospera Business Network in Bozeman, wages across both counties are going up but having a tough time keeping pace with the costs of housing.

Prospera’s executive director says people with many different sources and ranges of income are moving to the area, which is impacting everything from education to agriculture.

He says housing prices in Gallatin County and Bozeman are high compared to the rest of Montana but staying similar to the national average.

“We’re a fast-growing region,” says Paul Reichert, executive director of Prospera Business Network. “It’s starting to affect the smaller, outlying communities and that growth has impacts on everyone’s quality of life, cost of living and organizations are planning for that growth. It really affects a lot of aspects of the economy.”

You can find the full economic profile by clicking here.

Reporting by Cody Boyer for MTN News