Laurel, MT
Population 7,198 · Montana
About Laurel, MT
Laurel is a small town located in Montana with a population of 7,198 residents according to the latest US Census Bureau American Community Survey data. The median household income is $66,382 per year, which is 12% below the national median of $75,149. The median age of 36.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Laurel features a median home value of $232,700, which is 5% below the national median of $244,900. This positions Laurel in a moderately priced market relative to the rest of the country. Median monthly rent is $953, 18% below the national average of $1,163/month. Of the 3,250 total housing units, 57% are owner-occupied (1,772 units) and 43% are renter-occupied (1,316 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Laurel shows an unemployment rate of 2.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 12.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Laurel have an average one-way commute time of 18.1 minutes, one of the shorter commutes in the region.
Education & Demographics
20.1% of Laurel residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 5.9% White, 2.6% Hispanic or Latino, 0.2% Black or African American, and 0.2% Asian residents, with 2.3% of the population being foreign-born.
How Laurel Ranks in Montana
Cost of Living in Laurel, MT
Compared to national averages, Laurel has a median household income of $66,382 (12% below the national median of $75,149). Home values average $232,700, which is 5% below the national median. Monthly rent at $953 is 18% below the US average of $1,163. Within Montana, Laurel's income is 1% above the state average of $65,821, and home values are 19% below the state median of $288,703.
Why Live in Laurel, MT?
Laurel offers affordable housing with a median home value of $232,700, below the US average of $244,900, and rent that’s lower than the national average at $953/month, and a strong job market with an unemployment rate of just 2.1%. Additionally, the city features a low poverty rate of 12.3%, better than the national average, and short commute times averaging just 18.1 minutes.
Potential considerations include median household income ($66,382) that falls below the national average. However, Laurel’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Laurel has a population of 7,198 with a median age of 36.6 years. Compare Laurel with other cities to see how it stacks up, or explore all cities in Montana.
Similar Cities Near Laurel
Cities in Montana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lockwood | 7,474 | $74,451 | $250,900 | Compare |
| Sidney | 6,235 | $62,992 | $249,100 | Compare |
| Helena Valley West Central | 8,224 | $89,040 | $352,800 | Compare |
| Lewistown | 6,028 | $44,195 | $159,500 | Compare |
| Miles City | 8,412 | $60,732 | $182,700 | Compare |
| Whitefish | 8,422 | $71,110 | $648,200 | Compare |
| Livingston | 8,635 | $65,187 | $348,700 | Compare |
| Four Corners | 5,562 | $111,474 | $620,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Montana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Laurel With Other Cities
Frequently Asked Questions about Laurel
What is the population of Laurel, MT?
The population of Laurel, MT is 7,198 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Montana.
What is the median household income in Laurel?
The median household income in Laurel, MT is $66,382 per year, which is 12% below the national median of $75,149.
What is the median home value in Laurel?
The median home value in Laurel, MT is $232,700, which is 5% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Laurel?
The median monthly rent in Laurel, MT is $953, which is 18% below the national average of $1,163/month.
What is the unemployment rate in Laurel?
The unemployment rate in Laurel, MT is 2.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Laurel, MT a good place to live?
Laurel offers a moderate cost of living, affordable housing, and a strong job market. With a population of 7,198 and a median age of 36.6, the city appeals to a broad range of residents.
How educated is Laurel, MT?
20.1% of residents in Laurel aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Laurel?
Key cost-of-living indicators for Laurel, MT: median home value is $232,700 (5% below national), median rent is $953/month, and median household income is $66,382. The home-value-to-income ratio is 3.5x, a moderate figure by national standards.
What is the poverty rate in Laurel?
The poverty rate in Laurel, MT is 12.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Laurel, MT?
Laurel's population is 5.9% White, 2.6% Hispanic or Latino, 0.2% Black or African American, 0.2% Asian, and 0.5% two or more races. 2.3% of residents are foreign-born.