Frequently Asked Questions

The community developed MeadowView Condominiums using a nonprofit land trust model. Under this model, homes sell below market rate to households living and working in Big Sky. In addition to their affordability, MeadowView units are well-designed, energy-efficient, and conveniently located near recreational activities and the bus route.

Homes sell to qualifying households for a below-market rate with a ground lease that limits the appreciation owners will receive at resale. When owners move, they must sell their home to a qualified household or to the community land trust at a predetermined, affordable price. When locals purchase in MeadowView, they know the maximum appreciation percentage they may receive annually for the period that they own their home. This model allows households priced out of expensive housing markets to purchase, benefiting from limited appreciation and housing stability, while ensuring that the investment to create affordable housing remains in the community in perpetuity.

The target income range for purchasers of these units is between 60-150% of average median income, or between $40,000 to $130,000 for the household. Purchasers must work in Big Sky full-time, not own other housing properties, commit to live in the unit, and qualify for a conventional mortgage. The net worth of the purchaser cannot exceed half the value of the unit.

Step One: Join BSCHT’s Homeownership Waitlist.

Step Two: To be eligible, candidates must also attend a Homebuyer Education Class. Big Sky Community Housing Trust does not offer this class. Two options exist to complete this course:

1. HRDC in Bozeman offers the course virtually. Visit HRDC’s Website for more information or email homeownership@thehrdc.org.
2. NeighborWorks Montana offers the course online, allowing you to complete the course at your own pace.

Yes, all units have been sold. The construction of MeadowView completed in the summer of 2021. Units will only become available when current owners choose to sell. There is currently a waitlist for eligible buyers.

Buyers are responsible for their monthly mortgage payments, taxes, insurance, utilities, and HOA dues. The monthly mortgage payment will vary by buyer and is determined by the buyer’s primary lender. HOA fees will cover lawn care, snow removal, garbage, insurance, and maintenance of the building exterior. The total for taxes, insurance, and HOA fees is approximately $500 a month for two-bedroom units and $300 a month for studios.

Step One: Join BSCHT’s Homeownership Waitlist.

Step Two: To be eligible, candidates must also attend a Homebuyer Education Class. Big Sky Community Housing Trust does not offer this class. Two options exist to complete this course:

1. HRDC in Bozeman offers the course virtually. Visit HRDC’s Website for more information, call HRDC at 406-587-4486, or email homeownership@thehrdc.org
2. NeighborWorks Montana offers the course online, allowing you to complete the course at your own pace.

BSCHT gives potential buyers a list of lenders that have financing history with MeadowView. First Security Bank in Big Sky negotiated a Fannie Mae option that provides a 30-year fixed-rate mortgage, but buyers may use any qualified lender of their choosing. All loans to purchase MeadowView units need to meet conventional lending standards and conform to a ground lease project. A rural development loan, which offers a 5% down payment option, has also been approved for the project.

The minimum buyer contribution is between 5% and 20% of the purchase price, which includes the earnest money due at the time of signing the purchase contract as well as the funds brought to closing. Down payment funds can also be gifted to the buyer.

Yes. Subject to the primary lender’s requirements, you can utilize a co-borrower who does not intend to live in the home to help you qualify for the mortgage.

No. MeadowView units must be owner-occupied and are not available for purchase by investors. Short-term rentals are strictly prohibited in MeadowView.

When owners decide to sell their home, they must sell to a qualified buyer on the wait list who meets BSCHT's work, residency, and financial qualifications. If a buyer is not readily identifiable, owners may resell to BSCHT.

Owners of two-bedroom units may rent out a room on a long-term basis of six months or more. Tenants must work full-time in Big Sky. The current maximum amount of rent allowed is $800 a month plus utilities.

There are no three-bedroom units available in MeadowView. BSCHT is exploring future development projects to accommodate this community need.

Anyone interested in purchasing, selling, or investing in a Big Sky property may participate.

Properties located within the Big Sky Resort Area District are eligible to apply.

Applicants must complete an application. If the GOOD DEEDS application involves a sales transaction, the applicant must also provide a preapproval letter from a lender. If the applicant is a current owner, BSCHT requires proof of ownership and mortgage information.

1. At least one occupant must work a minimum of 30 hours per week in Big Sky and use the property as their primary residence. The occupant can be the owner or a tenant.
2. Short-term rentals are strictly prohibited.

GOOD DEEDS Purchase Sales Agreement (Sales agreement with BSCHT, the buyer of the deed restriction)

GOOD DEEDS Deed Restriction (BSCHT files this deed restriction with Gallatin County or Madison County)

GOOD DEEDS Subordination Agreement (Required when deed restricting a property with a mortgage)

The deed restriction follows the property in perpetuity.

Yes, you can rent your property. At least occupant must work in Big Sky a minimum of 30 hours a week. Short-term renting is strictly prohibited.

A trained and dedicated committee reviews all applications and make recommendations to BSCHT's board of directors.

Because each individual's tax circumstances are different,  applicants should consult with their tax professionals.

Before purchasing a deed restriction, BSCHT requires an appraisal of the property at the applicant’s expense. BSCHT recommends all applicants apply for the program before ordering a new appraisal, unless one already exists that is six months old or less.

BSCHT recently paused homeowner applications to the Rent Local program while it seeks additional funding. Please email info@bigskyhousingtrust.com to add yourself to the waitlist.

The first step is completing the Housing Trust’s rental prescreening form. Then, actively watch the current listings page for future rental opportunities. When you find a listing that is of interest, please email info@bigskyhousingtrust.com to receive the complete application.

The Housing Trust will suspend funding for owners already on the long-term rental market in 2024. Owners who already rent to locals can instead apply to the Housing Trust’s newest program, Good Deeds. Good Deeds pays property owners up to 20% of their property’s appraised value in exchange for permanently requiring a member of the Big Sky workforce to live in the home.

The Housing Trust offers free tenant screening to any property owner needing long-term tenants, provided the owner does not exceed Rent Local’s rent caps. Owners do not need to participate in Rent Local to use the free tenant screening services.

Please email info@bigskyhousingtrust.com for a leasing template.

No. Owners must commit to Rent Local for a minimum of one year.

No. Owners must commit to Rent Local for a minimum of one year.

Any business that is registered with the Big Sky Resort Area District may rent bedrooms in Powder Light. (Businesses must register with Resort Tax prior to applying for Powder Light bedrooms, even if their business does not collect the tax.) Nonbusiness owners are not eligible to rent bedrooms in Powder Light.

No, pets are not allowed in Powder Light.

All costs, including utilities, are included in the $1,700 per bedroom rental rate.

Powder light is a smoke-free campus.

Powder Light double-occupancy bedrooms will lease directly to businesses who may sublease the bedrooms to their employees. If an employee changes jobs or finds housing independently, the business may place a new employee in the unit instead.

The minimum amount of space a Big Sky business can rent in Powder Light is one double-occupancy bedroom. You cannot rent a single bed. The maximum is set based on current availability and demand.

The monthly rent is $1,700 per bedroom. It includes all furnishings, utilities, and Wi-Fi.

RiverView Apartments is a collaboration between the Housing Trust, Lone Mountain Land Company, Resort Tax, and Big Sky Water & Sewer to build 97 rental apartments off Lone Mountain Trail.

Lone Mountain Land Company’s (LMLC) portion will consist of 72 units that are a mix of traditional apartments and single-occupancy dorms with shared living spaces. The Housing Trust’s portion of the development contains 25 apartments with no dorm rooms.

LMLC still needs to set the rental rates for businesses leasing in RiverView. Because BSCHT earned $6.49 million in federal funding to build its 25 apartments, BSCHT’s occupants must meet federal income requirements. BSCHT will rent to individuals with incomes between 30% and 80% of the Area’s Median Income, with rent capped at 30% of a household’s income.

BSCHT has yet to establish the rental process because construction will not finish until June 2024. If you are an employer or employee interested in renting at RiverView, please join the RiverView Waitlist. The Housing Trust will provide more information in 2024.

The apartments are a mix of one-, two-, and three-bedrooms.

LMLC’s RiverView dorms have two different floor plans. One will have eight single-occupancy bedrooms, and the other will have four single-occupancy bedrooms. There is one bathroom for every two bedrooms in LMLC’s dorms.