Sharing or renting a room in a private residence in Montana saves you substantial money and is less expensive than renting an apartment or a house on your own or with co-renters. However, there are house rules that you may have to obey. You have less privacy. As long as everyone abides by the boundaries and rules, the situation can work out well for renters or roommates and the landlord and property owner.
Living in Montana offers the opportunity to live in beautiful open spaces with a variety of outdoor sports activities including skiing, hunting, fishing, backpacking and hiking in the Rocky Mountains. There are many choices of cities to reside in including Billings, Bozeman and Helena.
Billings is the largest city. It has a strong economy. Nearby attractions include Yellowstone National Park, Pompey's Pillar, Little Bighorn Battlefield National Monument, Bighorn Canyon National Recreation Area.
Bozeman is the fourth largest city and is located approximately 84 miles East of Butte, 125 miles west of Billings and 93 miles north of Yellowstone National Park. Expect snowy winters and warm summers in Bozeman. Bozeman is known as a college town and home to Montana State University–Bozeman. The area attracts residents because of its beautiful scenery and nearby recreation attractions. It was voted by Outside in August 2010 as the best place to live in the west for skiing.
Helena is the capital. It is home to the Helena Brewers minor baseball league and the Helena Bighorns minor hockey team. Expect cold and snowy winters and hot and dry summers. It is rich in silver and lead deposits. You will find government jobs and government activities here. Nearby is Mount Helena City Park, Lake Helena, Helena National Forest, the Big Belt Mountains, the Elkhorn Mountains and other area attractions.
The demand for rental housing in Montana is strong. If you are a Montana property owner, the benefits of renting out a room in your home can help you pay for the costs of maintaining your home. You still get the home ownership tax deduction benefits for your mortgage interest and property taxes. Depending on how you decide to treat the generating of income of your room rental situation, you may also qualify to take a rental deduction and depreciation deduction on your income tax returns. However, rental income deductions are more complex and require the advice of an accountant or tax advisor.