Colstrip is a city in Rosebud County, Montana, United States. The population was 2,096 at the 2020 census. Established in 1924 and in…Colstrip is a city in Rosebud County, Montana, United States. The population was 2,096 at the 2020 census. Established in 1924 and incorporated as a city in 1998, Colstrip is the largest city in Rosebud County with 25.2% of the total population in 2020. Colstrip's primary industries are coal mining and electricity production. In 2005, Sports Illustrated’s 50th anniversary issue named Colstrip the top sports town in Montana. The entire community celebrates Colstrip Days annually on the weekend prior to the 4th of July.