The market in numbers
Home values over the last two years
The typical home in Montana was worth $402,400 in September 2024 and $431,300 in August 2026, a change of +7.2% over two years. Values are at the highest point of the period.
Housing markets by metro
Typical home value, 12-month change and rents for each metro area in Montana, largest first. Of Montana's ZIP codes, 129 lie outside any metro area.
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Billings | 26 | $460,100 | +6.9% | $1,400 | 4.4% |
| Bozeman | 10 | $667,700 | +2.3% | $2,200 | 4.1% |
| Great Falls | 16 | $370,000 | +3.8% | $1,400 | 5.0% |
| Helena | 15 | $443,900 | +3.7% | $1,600 | 4.2% |
| Kalispell | 17 | $610,500 | +1.4% | $2,100 | 3.6% |
| Missoula | 15 | $580,200 | +1.5% | $1,600 | 3.5% |
| Butte | 3 | $314,300 | +3.8% | n/a | n/a |
Home values by county
Of Montana's 55 counties, Park County has the highest typical home value, $675,100, and Prairie County the lowest, $132,900. Among counties with at least five ZIP codes, Carbon County has risen most over the year, up 13.6%, and Lincoln County has moved least, flat.
Show all 55 counties
| County | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Park County | 8 | $675,100 | +1.5% | n/a | n/a |
| Gallatin County | 10 | $667,700 | +2.3% | $2,200 | 4.1% |
| Lake County | 12 | $625,600 | +1.9% | n/a | n/a |
| Madison County | 6 | $611,000 | +2.5% | n/a | n/a |
| Flathead County | 13 | $610,500 | +1.4% | $2,200 | 3.6% |
| Ravalli County | 8 | $593,300 | +1.5% | n/a | n/a |
| Missoula County | 12 | $590,400 | +1.3% | $1,600 | 3.5% |
| Carbon County | 7 | $519,100 | +13.6% | n/a | n/a |
| Stillwater County | 5 | $516,800 | +11.0% | n/a | n/a |
| Lincoln County | 7 | $497,000 | 0.0% | n/a | n/a |
| Sweet Grass County | 2 | $477,000 | +10.6% | n/a | n/a |
| Broadwater County | 2 | $475,800 | +1.9% | n/a | n/a |
| Sanders County | 7 | $461,400 | +5.0% | n/a | n/a |
| Jefferson County | 5 | $452,600 | +2.8% | n/a | n/a |
| Deer Lodge County | 2 | $448,000 | +4.1% | n/a | n/a |
| Lewis and Clark County | 7 | $441,600 | +3.1% | $1,600 | 4.2% |
| Granite County | 3 | $433,800 | +1.8% | n/a | n/a |
| Powell County | 6 | $430,800 | +5.0% | n/a | n/a |
| Silver Bow County | 2 | $428,200 | +3.1% | n/a | n/a |
| Beaverhead County | 4 | $415,300 | +8.4% | n/a | n/a |
| Mineral County | 3 | $399,800 | +1.1% | n/a | n/a |
| Yellowstone County | 12 | $398,500 | +1.0% | $1,400 | 4.4% |
| Teton County | 4 | $374,700 | +8.8% | n/a | n/a |
| Cascade County | 15 | $368,900 | +4.4% | $1,400 | 5.0% |
| Judith Basin County | 4 | $330,400 | +6.5% | n/a | n/a |
| Fergus County | 7 | $320,800 | +5.3% | n/a | n/a |
| Meagher County | 2 | $296,200 | −1.0% | n/a | n/a |
| Pondera County | 3 | $295,100 | +7.5% | n/a | n/a |
| Chouteau County | 4 | $292,200 | +12.1% | n/a | n/a |
| Golden Valley County | 2 | $279,300 | +9.4% | n/a | n/a |
| Richland County | 3 | $272,200 | +5.9% | n/a | n/a |
| Garfield County | 1 | $260,500 | +17.1% | n/a | n/a |
| Powder River County | 1 | $253,600 | +10.0% | n/a | n/a |
| Custer County | 1 | $247,500 | +9.4% | n/a | n/a |
| Musselshell County | 1 | $242,600 | +0.5% | n/a | n/a |
| Wheatland County | 2 | $239,900 | +7.6% | n/a | n/a |
| Rosebud County | 2 | $236,100 | +3.0% | n/a | n/a |
| Hill County | 3 | $234,100 | +6.1% | n/a | n/a |
| Valley County | 4 | $231,300 | +14.0% | n/a | n/a |
| McCone County | 3 | $230,300 | +9.2% | n/a | n/a |
| Wibaux County | 1 | $229,300 | +11.9% | n/a | n/a |
| Treasure County | 1 | $223,700 | +14.6% | n/a | n/a |
| Liberty County | 1 | $216,200 | −1.2% | n/a | n/a |
| Big Horn County | 2 | $209,000 | +2.2% | n/a | n/a |
| Dawson County | 2 | $203,900 | +7.4% | n/a | n/a |
| Fallon County | 2 | $203,000 | +11.0% | n/a | n/a |
| Phillips County | 2 | $202,200 | +5.3% | n/a | n/a |
| Petroleum County | 1 | $201,400 | +2.3% | n/a | n/a |
| Blaine County | 2 | $195,200 | +5.1% | n/a | n/a |
| Toole County | 1 | $182,100 | +1.7% | n/a | n/a |
| Daniels County | 2 | $177,600 | +8.5% | n/a | n/a |
| Sheridan County | 3 | $173,200 | +11.3% | n/a | n/a |
| Glacier County | 3 | $163,500 | −2.2% | n/a | n/a |
| Carter County | 1 | $142,300 | −9.9% | n/a | n/a |
| Prairie County | 2 | $132,900 | +0.9% | n/a | n/a |
Where prices are rising fastest
The ten ZIP codes with the strongest change in home values over the past twelve months. Among the larger half of Montana's ZIP codes by population, so that places with only a handful of sales a year do not crowd the list.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 59520 | Big Sandy | $286,200 | +15.0% | +8.4% |
| 59417 | Browning | $147,100 | +13.7% | +6.7% |
| 59526 | Harlem | $169,600 | +12.3% | +6.2% |
| 59353 | Wibaux | $229,300 | +11.9% | +7.8% |
| 59218 | Culbertson | $190,600 | +11.9% | +5.2% |
| 59230 | Glasgow | $174,300 | +11.6% | +4.8% |
| 59001 | Absarokee | $449,000 | +11.6% | +7.2% |
| 59254 | Plentywood | $173,200 | +11.3% | +3.6% |
| 59425 | Conrad | $260,700 | +11.2% | +8.3% |
| 59063 | Park City | $516,800 | +11.0% | +6.6% |
Where prices are falling
Across Montana, 33 ZIP codes are below where they were a year ago. These are the ten largest declines among the larger half by population.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 59923 | Libby | $345,400 | −2.6% | −2.6% |
| 59427 | Cut Bank | $163,500 | −2.2% | −5.5% |
| 59718 | Bozeman | $643,400 | −0.6% | −4.7% |
| 59714 | Belgrade | $552,900 | −0.6% | −4.5% |
| 59935 | Troy | $417,300 | −0.3% | −0.3% |
| 59050 | Lodge Grass | $191,900 | −0.1% | −5.5% |
| 59047 | Livingston | $556,400 | −0.1% | −3.5% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the highest yields among the larger ZIP codes with rent data.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 59701 | Butte | $285,200 | $1,400 | 6.1% | +2.1% |
| 59401 | Great Falls | $290,100 | $1,200 | 5.2% | +8.2% |
| 59405 | Great Falls | $329,600 | $1,400 | 5.0% | +2.8% |
| 59404 | Great Falls | $391,900 | $1,600 | 5.0% | +5.7% |
| 59714 | Belgrade | $552,900 | $2,300 | 4.9% | +3.0% |
| 59102 | Billings | $382,500 | $1,400 | 4.5% | +2.1% |
| 59635 | East Helena | $435,800 | $1,600 | 4.5% | n/a |
| 59044 | Laurel | $374,500 | $1,400 | 4.5% | n/a |
| 59101 | Billings | $333,300 | $1,200 | 4.4% | +5.3% |
| 59602 | Helena | $532,800 | $1,900 | 4.2% | n/a |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The state typical is 6.0×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 59218 | Culbertson | $190,600 | $98,800 | 1.9× |
| 59230 | Glasgow | $174,300 | $85,000 | 2.0× |
| 59313 | Plevna | $196,100 | $78,000 | 2.5× |
| 59254 | Plentywood | $173,200 | $68,800 | 2.5× |
| 59526 | Harlem | $169,600 | $63,900 | 2.7× |
| 59427 | Cut Bank | $163,500 | $61,100 | 2.7× |
| 59201 | Wolf Point | $150,700 | $53,300 | 2.8× |
| 59330 | Glendive | $206,300 | $71,000 | 2.9× |
| 59263 | Scobey | $160,400 | $53,900 | 3.0× |
| 59523 | Chinook | $220,800 | $73,900 | 3.0× |
Who is moving in
Household moves between the 2022 and 2023 tax years, measured county by county. Summed across its counties, Montana gained 6,154 households on net, and the households that arrived brought $998m more income than those that left. Of its 52 counties, 32 gained households. The tables show the largest gains and losses; the last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Flathead County | +1,362 | +$244m | +$21,223 |
| Missoula County | +924 | +$81m | +$3,181 |
| Gallatin County | +694 | +$118m | +$6,171 |
| Yellowstone County | +612 | +$34m | −$810 |
| Ravalli County | +444 | +$122m | +$31,734 |
| Lewis and Clark County | +370 | +$42m | +$4,065 |
| Lake County | +368 | +$59m | +$19,465 |
| Lincoln County | +338 | +$54m | +$27,324 |
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Richland County | −168 | −$15m | −$8,464 |
| Valley County | −90 | −$10m | −$16,821 |
| Sheridan County | −84 | −$6m | +$6,058 |
| Blaine County | −82 | −$2m | +$8,050 |
| Liberty County | −76 | −$0m | +$16,701 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In Montana, 47 of 231 ZIP codes grade A and 13 grade F. Which ones, and why, is in CITIZEN.
Questions
Are home prices going up or down in Montana?
Up. Home values across Montana are up 3.7% over the past twelve months, to a typical $431K, and 198 of its 231 ZIP codes are higher than a year ago.
What is the typical home value in Montana?
$431,300 across Montana's 231 ZIP codes, as of August 2026. Among its metro areas, the typical home ranges from $370,000 in Great Falls to $667,700 in Bozeman.
What is the cheapest place to buy a house in Montana?
Among Montana's metro areas with at least eight ZIP codes, Great Falls has the lowest typical home value, $370,000. Among the larger half of its ZIP codes, 59417 in Browning is the cheapest, at $147,100.
Where are home prices rising fastest in Montana?
59520 in Big Sandy (+15.0%), 59417 in Browning (+13.7%) and 59526 in Harlem (+12.3%), over the past twelve months, among the larger half of its ZIP codes.
What is the typical rent in Montana?
About $1,600 a month, across the 26 ZIP codes with rent data, up 3.2% over the past year.
Are people moving to Montana?
Yes, on balance. Between the 2022 and 2023 tax years, Montana gained 6,154 households on net from moves, summed across its counties.
Other states
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values and rents through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023.
- State, metro and county figures are medians across their ZIP codes, not a separate index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- ZIP code lists use the larger half of the state's ZIP codes by population.
- Updated monthly. Last updated 2026-10-14.
