Where Are People Moving in Yellowstone, MT?
IRS county-to-county migration, 2023 tax year (released about two years after the tax year it covers).
People moving in
1,840
People moving out
1,553
Net migration
+433
Yellowstone, MT is a net gainer of residents. In the latest IRS data (2023 tax year), 1,840 people moved in and 1,553 moved out, for a net gain of +433. Sustained inflows like this are one of the strongest long-run signals of housing demand.
Migration is most useful read alongside the rest of the market. People move for jobs, affordability, climate, and lifestyle, and where they come from and go to says a lot about what a county is competing on. Below are the specific counties driving Yellowstone, MT’s flows in each direction.
Top counties people moved to Yellowstone, MT from
| Origin county | Returns | People |
|---|---|---|
| Gallatin, MTMontana | 239 | 350 |
| Carbon, MTMontana | 114 | 178 |
| Stillwater, MTMontana | 111 | 191 |
| Missoula, MTMontana | 96 | 155 |
| Big Horn, MTMontana | 93 | 164 |
| Maricopa, AZArizona | 89 | 157 |
| Cascade, MTMontana | 85 | 135 |
| Lewis and Clark, MTMontana | 79 | 120 |
| Musselshell, MTMontana | 57 | 87 |
| King, WAWashington | 52 | 84 |
Top counties people left Yellowstone, MT for
| Destination county | Returns | People |
|---|---|---|
| Gallatin, MTMontana | 217 | 301 |
| Carbon, MTMontana | 121 | 232 |
| Missoula, MTMontana | 113 | 155 |
| Maricopa, AZArizona | 95 | 147 |
| Stillwater, MTMontana | 91 | 179 |
| Lewis and Clark, MTMontana | 82 | 132 |
| Big Horn, MTMontana | 79 | 178 |
| Cascade, MTMontana | 69 | 106 |
| King, WAWashington | 52 | 63 |
| Rosebud, MTMontana | 45 | 76 |
“Returns” counts tax returns (a household proxy) that moved along each flow; “People” counts the individuals on those returns, when reported. IRS aggregate and foreign pseudo-rows are excluded. Informational only, not financial advice.
Frequently asked questions
Are people moving to Yellowstone, MT or leaving?
Yellowstone, MT had a net gain of +433 residents in the latest IRS data (2023 tax year), with 1,840 people moving in and 1,553 moving out. Net migration is inflow minus outflow.
Where are people moving to Yellowstone, MT from?
The largest sources of new Yellowstone, MT residents are Gallatin, MT, Carbon, MT, Stillwater, MT. The full top-ten list of origin counties is in the table above.
Where do people leaving Yellowstone, MT go?
People leaving Yellowstone, MT most often move to Gallatin, MT, Carbon, MT, Missoula, MT. The full top-ten list of destination counties is in the table above.
What does Yellowstone, MT migration mean for housing?
Migration is a leading demand signal. Sustained net inflows tend to support rents and home prices when supply cannot keep up, while net outflows can soften them. Read this alongside Yellowstone, MT's price forecast, building permits, and affordability on the full county dashboard before drawing a conclusion.
How current is this Yellowstone, MT migration data?
It comes from IRS Statistics of Income county-to-county migration data, which is released about two years after the tax year it covers; the figures above reflect the 2023 tax year. That lag is normal for this dataset, which counts actual tax returns rather than survey estimates.