Ginger Rice (above) of Bozeman said her family was struggling to find a place to live after the landlord refused to renew the rent of the three-bedroom house. She said a two-bedroom apartment costs three times as much as a house
Kevin Costner’s popular Yellowstone TV series, where life-long montanas are struggling to retain their land from incoming wealthy land developers, has come very close to home for many locals.
The show, centered around the fictional Dutton family’s ambition to occupy one of the largest farms in the United States, premiered in 2018 and became one of the most watched programs in the nation, raising interest in the farm-lifestyle for many wealthy people. Americans.
According to the U.S. Census Bureau, cities such as Bozeman and Calispel became the largest growing micro-cities in the U.S. last year, with many farm-style homes costing more than 1 1 million.
The changes have not only increased housing prices, but also brought disgrace to the show as life-long residents like Ginger Rice have vowed not to see Yellowstone anymore as it does not portray the reality of life in Bozeman or Montana.
“It’s really sad, depressing, the locals can’t live here anymore,” Rice told CNBC.
Rice said the show has been both a blessing and a curse for Montana as it faithfully depicts the country-side Vista and beautiful snow-capped mountains from a shading location in Derby.
The show has also provided millions of dollars to the state, with production costs reaching $ 72 million in the last fourth season, and businesses in the state have also enjoyed $ 85 million in economic growth, according to the University of Montana.
On the downside, however, the booming economy and beautiful scenery have attracted wealthy urbanites who are willing to spend millions of dollars on housing so that they too can enjoy life in the country.
Rice said it was impossible for her own daughter to find a new home after the landlord refused to renew the rent for a three-bedroom house, adding that new, wealthy residents have been valuing families living in the city for generations.
‘My daughter said we would never buy a house,’ Rice told CNBC when the family could only afford a two-bedroom apartment for three times the cost of their home.
“We tried to save but everything is going up and down.”
The hit TV series Yellowstone has contributed to the recent boom in Montana, which has seen house prices rise over the past three years, with residents struggling to buy or rent a home for a lifetime.
Housing prices have skyrocketed in Darby, where Yellowstone is depicted, as well as Bozeman and Calispel, which became the fastest growing micro-cities in the United States last year.
The new homes are going for more than $ 10 million, as featured in Waterfall Way, Bozeman (left). The house not only includes access to the lake, but also a clear view of the Montana mountains (right).
Lifelong residents are moving to mobile homes and trailer parks because they can’t live anywhere else (left). New luxury complexes are moving up to take advantage of the rich looking to move (right)
Montana, the eight smallest states by population in the United States, now has more than 1 million inhabitants, an increase of about 10 percent since 2010, according to the 2020 census.
Last year, Bozeman added 3,211 new residents, and Calispel saw its population grow by 3,681.
Since 2019, Bozeman has seen its average home price rise from $ 545,000 to $ 849,000 by April 2022, according to Realtor.com, with more than 25 percent year-over-year.
Calispel also raised its average home value from $ 335,000 in 2019 to рен 575,000 in 2022, an increase of about 37 percent year-over-year.
In Darby, where Yellowstone is depicted, average housing prices rose from $ 550,000 in 2019 to $ 774,000 in April, an increase of about 24 percent year-over-year.
Living-longer residents are not the only ones affected by rising cost of living because low-income immigrants who dreamed of living outside the West are finding it difficult to join the increase.
Veterinarian Chris Kimbrel told CNBC that he was struggling in Bozman after fulfilling his childhood dream of moving from Georgia to Montana last year.
Kimberly said she fell in love with Bozman during a family vacation when she was nine years old, often returning to Montana for fly-fishing during college.
He said that although he dreamed of living in Bozeman, the decision to relocate last year was difficult due to rising house prices.
Kimbrell told CNBC, “If I didn’t have a family member to let me live on my property, I would have thought about getting out. “Rent and house are becoming very expensive.”
He added that local support staff at his veterinary clinic told him the value of the house was out.
Boseman’s 27-year-old Sen. Huxford echoed the concern as he was denied 18 different times when he tried to persuade NPR to buy a new home in the city for his new family.
Huxford said: ‘I slept in bed for three hours without sleep because my mind was on an overdrive of absolute importance to me to provide us with a place to live.
Where the average home price in Bozeman was $ 545,000 in 2019, luxury homes now stand at more than 6 1.6 million (left). Another home for sale in Bozeman (right) for 1.37 million
Many high-end homes for sale have outdoor photos provided to better appeal to those seeking to fulfill their Yellowstone Cowboy fantasies.
Habitat for Humanity described the situation as a housing crisis as it pushed lawmakers to create better affordable housing opportunities for lifelong residents, many of whom were forced to live in mobile homes and trailer parks.
“Montana has become increasingly accessible to those who live and work here,” he said. Boom
Robert Keith, founder of the BeerTooth Group, who has lived in Montana for 15 years, has been betting on the state with economic growth out of concern for the economy due to all the money coming from wealthy newcomers.
Keith told CNBC that new home buyers not only bring in capital, but generally invest in land conservation and have helped fund projects to ensure Montana becomes an old, rural state.
“I think we can all agree that there are not enough dollars in conservation,” he said. “By doing something good for the world, we are making it more economically and environmentally valuable.”
This is not the first time that the struggle has started in Montana since the 1991 Academy Award-winning film A River Runs Through It popularized fly-fishing in the state.
The Yellowstone series is only available in Stan, Australia.