How the ‘Yellowstone Effect’ Changed a Wild West American Town

The airport — a renovation in progress — gets a steady stream of private traffic that transports the wealthy to their homes, like the exclusive Yellowstone Club in Big Sky, about an hour south, where stars like Justin Timberlake and Tom Brady have multimillion-dollar stacks.

“On any given day at our airport, there are 80 to 100 private jets on the tarmac, primarily Yellowstone Club guests,” Koerner said.

During Covid, local buyers were systematically rejected by out-of-state cash offers. So many people buy homes through viewings that the state Realtor Association has added a new showing form to its contract library. And while Montanans can’t get on the property ladder, others still find it unaffordable to even rent.

“Every developer in America has heard about the exorbitant rents in Bozeman and how attractive it is to develop here,” Koerner says. Apartment blocks and townhouses are popping up everywhere – fast – with one-bedroom rents coming in at $2000 or more a month – something no local can afford, especially single-income earners.

It was on this wave of frustration that Mayor Morrison swept to victory in November 2023.

Now the 30-year-old mayor lives with her fiancé – and two roommates. Before that, about 10 years ago, he rented a room in a duplex for $333. He says that room is now rented for $900.

Morrison, who grew up in eastern Montana with a nurse mother and an incarcerated father, was a founding member of Bozeman Tenants United, a union chapter that has since struck mobile home parks. His mayoral election, referendum on housing policy and local government are thought to have left the average Montanan behind.

“Obviously, that was a big reason … he was clearly saying, ‘We want one of us to be represented at City Hall,'” he says.

“The ability to stay in this state, especially in this city, sees a lot of desperation,” he says.