Last checked October 29, 2026.
Red Lodge is a resort town with resort-town home prices, about $555,000 at the median, but the Census median rent is low: a single adult needs about $33,500 a year at that rent.
At a glance
| Population | 2,502 (Census ACS 2020–2024) |
| Region | Yellowstone Country, Carbon County |
| Median rent paid, Census | $620 for a 1-bedroom (utilities included; 2020–2024 average) |
| Home prices | $554,944 median sale (Redfin, 3 months ending Aug 2026) |
| Median home value, Census | $380,700 (2020–2024) |
| Income needed, own 1-bedroom | $33,528 at the Census median 1-bedroom rent |
| Electric and gas | NorthWestern Energy for both in town: 2,323 residential electric and 2,356 natural gas customers in Red Lodge in 2025 (electric and gas annual reports to the Montana PSC). Beartooth Electric Cooperative serves members around Red Lodge. |
| Resort tax | 4% on lodging, restaurants, bars, ski and recreation, and luxury goods; not on groceries, medicine or hardware |
| Hospital / airport | Beartooth Billings Clinic (hospital with 24-hour emergency department) / Billings Logan International (BIL) |
Rent
The major rental listing sites don’t publish averages for Red Lodge, so we rely on Census figures here.
The Census American Community Survey puts the median rent actually paid in Red Lodge at $620 for a 1-bedroom, including utilities (Census ACS 2020–2024). That’s an average over five years and includes long-time tenants, so it runs below what a new renter is quoted today. Red Lodge is small, so its Census figures have wide margins of error; the median household income is too uncertain to show.
Buying a home
Redfin’s median sale price was $554,944 for the three months ending August 2026, down 9% (Redfin), well above the Census median home value of $380,700, which averages owners’ estimates from 2020 to 2024. See property tax for the 2026 homestead rate.
Monthly budget, own 1-bedroom
| Rent (Census median 1-bedroom rent, utilities included) | $620 |
| Car, paid off | $441 |
| Groceries, health premium, phone and internet, eating out, renters insurance, other | $1,018 |
| Total | $2,079 |
| Salary needed with 10% saved, after taxes | $33,528 ($16.12 an hour) |
Same budget as our salary calculator; the car and other lines are explained there. Listing sites don’t publish Red Lodge averages, and the Census median includes long-time tenants; expect to pay more for a vacant unit.