Photo: USEPA Environmental-Protection-Agency · Public domainMeasured against area pay, Libby costs more to live in than 76% of U.S. towns
It ranks #27 of 42 in Montana for affordability. Down 2.6% in a year, 27% below the Montana typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of Lincoln County, MT ($47K). How TownRatings grades cost of living
Only 4 sales in September 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across Lincoln County earn ($47K, Census 2020–24). Even so, the typical home costs 5.5 years of area income, and 54% of renters pay 30% or more of income for housing.
In dollars
- $343Ktypical home, 27% below the Montana typical homeZillow, September 2026
- $1,060a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 5.5 yrsof area income buys the typical home; the typical U.S. town: 3.3$47K, Lincoln County income
- 17%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 54%of renters pay 30%+ of income for housing; across Montana: 45%Census 2020–24
- 34%of owners do; the typical U.S. town: 20%Census 2020–24
What Libby’s housing numbers say
Slipping while Montana rises
Over the past year the typical Libby home lost 2.6%, while the Montana typical home gained 2%. Price trend ↓
New renters pay more than renters already here
HUD puts a standard two-bedroom at about $1,060 a month with utilities, the going rate for someone moving in. Renters already in Libby pay a median of $672. Renting ↓
An older housing stock
Half of Libby’s homes were built before 1959, against 1981 for Montana as a whole. Older homes can mean character, and also bigger heating and repair bills, so an inspection matters. Property taxes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025 (2025 partly estimated); incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Libby’s grade
Measured against what households in the area earn, Libby is more affordable than 24% of U.S. towns, #27 of 42 in Montana. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have outpaced Montana: the typical Libby home is up 34.3% in five years, against 23.4% statewide (Zillow).
Up 34.3% in five years
Faster than Montana (23.4%).
Show as a table
| January | Libby | Montana |
|---|---|---|
| 2017 | $140,000 | $231,000 |
| 2018 | $145,000 | $245,000 |
| 2019 | $157,000 | $259,000 |
| 2020 | $169,000 | $274,000 |
| 2021 | $206,000 | $315,000 |
| 2022 | $274,000 | $402,000 |
| 2023 | $302,000 | $430,000 |
| 2024 | $330,000 | $443,000 |
| 2025 | $349,000 | $459,000 |
| 2026 | $349,000 | $463,000 |
| September 2026 | $343,000 | $467,000 |
A typical Libby home worth $139K in October 2016 is worth about $343K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 5.5 years of area income
The calculator starts from the area income the grade uses. Switch to Libby’s own median, or type yours.
That’s $150K short of a typical Libby home.
A two-bedroom rents for about $1,060 a month here, $900 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Libby’s typical property tax (0.55% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,060
Renters already here pay a median of $672, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lincoln County, MT): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
27 new homes permitted in 2025
Builders were permitted 27 new homes in Libby in 2025: 6 single-family houses and 21 in buildings with two or more homes, worth about $2.4 million to build. That's 8.9 per 1,000 residents, about the pace of Montana as a whole. Over the past 10 years, Libby has permitted 137 homes in all.
Between the 2010 and 2020 censuses, Libby gained 147 residents while 55 new homes were permitted: about 2.7 new residents per new home, about the same as across Montana (2.4).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 10 | 4 | 6 | $1 million |
| 2025 | 27 | 6 | 21 | $2.4 million |
| 2024 | 15 | 9 | 6 | $1.8 million |
| 2023 | 14 | 8 | 6 | $1.7 million |
| 2022 | 16 | 10 | 6 | $2 million |
| 2021 | 13 | 9 | 4 | $1.7 million |
| 2020 | 23 | 7 | 16 | $2.2 million |
| 2019 | 9 | 9 | 0 | $733,000 |
| 2018 | 7 | 7 | 0 | $764,000 |
| 2017 | 6 | 6 | 0 | $815,000 |
| 2016 | 7 | 7 | 0 | $690,000 |
| 2015 | 1 | 1 | 0 | $79,000 |
| 2014 | 2 | 0 | 2 | $140,000 |
| 2013 | 7 | 3 | 4 | $733,000 |
| 2012 | 3 | 3 | 0 | $309,000 |
| 2011 | 3 | 3 | 0 | $395,000 |
| 2010 | 10 | 1 | 9 | $455,000 |
| 2009 | 1 | 1 | 0 | $89,000 |
| 2008 | 7 | 2 | 5 | $490,000 |
| 2007 | 14 | 14 | 0 | $1.7 million |
| 2006 | 2 | 2 | 0 | $181,000 |
| 2005 | 6 | 6 | 0 | $533,000 |
| 2004 | 2 | 2 | 0 | $27,000 |
| 2003 | 5 | 5 | 0 | $402,000 |
| 2002 | 3 | 3 | 0 | $225,000 |
| 2001 | 0 | 0 | 0 | — |
| 2000 | 2 | 0 | 2 | $150,000 |
Libby's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the Montana norm
The median bill is $1,427 (Montana: $2,693), 0.55% of a home’s value a year, against 0.72% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Libby and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Libby | C− | $343K | $257K | 0.55% | $1,060 |
Questions about the cost of living in Libby
Is Libby expensive to live in?
Measured against what households in the area earn, Libby costs more than 76% of U.S. towns: a C− for cost of living, #27 of 42 in Montana. The typical home costs 5.5 years of the median household income of Lincoln County, MT ($47K).
How much does a house cost in Libby?
About $343K, Zillow’s typical value for September 2026, down 2.6% in a year. The Montana typical home is $467K.
What salary do you need to live in Libby?
To buy the typical home with 20% down at 6.3%, about $84,000 a year, keeping the payment (about $1,960 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $42,000.
How much is rent in Libby?
HUD puts a two-bedroom at about $1,060 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $672 (Census 2020–24).
What are property taxes in Libby?
The median bill is $1,427 a year, 0.55% of the median home value (Montana: $2,693, 0.72%), from the Census 2020–24.
Are home prices in Libby going up?
No: down 2.6% in the past year and 34.3% in five years, against 23.4% across Montana (Zillow).
Neighbors talk housing
What Libby buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.