salaryRent is higher than in 56% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (75.8%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $70,760 a year. That is $34 an hour at a full-time job.
Is rent cheaper than other Montana cities?
No. Rent here is more expensive than in most of Montana. It is number 23 of 27 cities from cheapest to most expensive.
How much do households earn in Lockwood?
Share of households by yearly income. 23.8% of households earn $100,000 or more.
Rent by apartment size in Lockwood
| Size | Lockwood | U.S. average |
|---|---|---|
| 1 bedroom | $820 | $1,324 |
| 2 bedrooms | $1,031 | $1,509 |
| 3 bedrooms | $1,597 | $1,698 |
| 4 bedrooms | $1,551 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lockwood overall?
Everyday prices in Montana overall are 5% below the U.S. average (index 94.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lockwood, so the Montana figure is shown.
Taxes and bills in Lockwood
Life in Lockwood
Is it cheaper to rent or buy in Lockwood?
Buying is cheaper month to month: about $136 a month less than renting.
Owning assumes a typical $235,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $23,540 for the down payment.
Frequently asked questions
What is the average rent in Lockwood, MT?
Renting in Lockwood costs a median of about $1,769 a month in 2026, including utilities. The Montana median is $1,260.
How much do I need to make to live in Lockwood?
To keep rent under 30% of income, you need about $70,760 a year, or $34 an hour at a full-time job.
Is Lockwood cheap or expensive?
Lockwood is rated OK: rent takes 26.0% of the typical household income of $81,642. It ranks 23rd cheapest of 27 Montana cities we track.
How much are property taxes in Lockwood?
The median homeowner in Lockwood pays $2,466 a year in property taxes, about 1.05% of the median home value.
Is Lockwood more expensive than the national average?
Overall prices in Montana are 5% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Lockwood?
The median home value in Lockwood is $235,400, about 2.9 times the typical yearly household income.
7,181 people live in Lockwood. Numbers are typical (middle) values.