Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Blaine County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,545 | $242,768 | $242,182 |
| Price Trend (Annual %) | 6.2% | 4.0% | 8.2% |
| Median Gross Rent | $688 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Blaine County is about 57% lower than in Montana. Rent is about 33% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Blaine County, up about 6.2% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Blaine County rose about 42.8% between 2015 and 2023, from $482 to $688. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Blaine County.
Buying the median-priced home in Blaine County costs roughly 12.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Blaine County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Blaine County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $104,545 | $242,768 | $242,182 |
| Median Household Income | $65,478 | $69,624 | $78,145 |
| Price-to-Income Ratio | 1.6 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Blaine County rose about 27.0%, while median household income rose about 74.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Blaine County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.4% | 60.1% | 58.2% |
| Rental Rate | 30.0% | 26.5% | 31.3% |
| Vacancy Rate | 18.7% | 13.4% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Blaine County has a homeownership rate of 51.4%, lower than the Montana average of 60.1%. Its housing vacancy rate is 18.7%, compared with 13.4% in Montana.
Housing Stock
| Metric | Blaine County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.96 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1967 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Blaine County was built around 1967. On average, 3.0 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Blaine County, Montana.
What is the median home price in Blaine County, Montana?
The median home price in Blaine County, Montana is $104,545, lower than the Montana average of $242,768.
What is the average home price in Blaine County, Montana?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Blaine County, Montana?
The median gross rent in Blaine County, Montana is $688 per month, lower than the Montana average of $1,031.
What was the median gross rent in Blaine County in 2020?
In 2020, the median gross rent in Blaine County, Montana was $525 per month.
What is the price-to-rent ratio in Blaine County, Montana?
The price-to-rent ratio in Blaine County, Montana is about 12.7, meaning it would take roughly 12.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Blaine County.
Are home prices or rent rising faster in Blaine County, Montana?
Both home prices and rent are rising in Blaine County, up about 6.2% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Blaine County, Montana?
51.4% of households in Blaine County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Blaine County, Montana?
The housing vacancy rate in Blaine County, Montana is 18.7%, higher than the Montana average of 13.4%.