During the past 15 years, several extensions of the concepts noise sensitivity and noise stability, first coined in~\cite{schramm2000}, has been studied. The purpose in this paper is to give definitions of this concepts in the setting of continuous time Markov chains, which then unifies many of the previously considered generalizations. In addition, a considerable amount of time is spent on proving the existence of sequences of noise stable and nondegenerate functions with respect to various classes of Markov chains, a problem which interestingly will appear to have close connections to the so called localization of eigenvectors, a problem which in the setting of random graphs has recently been given a lot of attention.