Carter County, Montana Housing Market Prices
Carter County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 35% below the Montana median$162,500
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Median rent 24% below the Montana median$823
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Carter County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $249,140 | $248,835 |
| Price Trend (Annual %) | 20.2% | 3.8% | 7.5% |
| Median Gross Rent | $823 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 2.6% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Carter County is about 35% lower than in Montana. Rent is about 24% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2023-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Carter County, up about 20.2% and 2.6% a year respectively. Home prices are changing faster.
Median rent in Carter County rose about 83.0% between 2015 and 2024, from $450 to $823. Over the same span, rent in Montana rose about 52.0%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Carter County.
Buying the median-priced home in Carter County costs roughly 16.4 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carter County. The price-to-rent ratio in Montana is about 19.2.
| Metric | Carter County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,500 | $249,140 | $248,835 |
| Median Household Income | $57,567 | $72,476 | $80,455 |
| Price-to-Income Ratio | 2.8 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2023 and 2024, the median home price in Carter County rose about 20.2%, while median household income rose about 39.9% between 2009 and 2025 — 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 | Carter County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 45.0% | 60.1% | 58.5% |
| Rental Rate | 27.4% | 26.8% | 31.2% |
| Vacancy Rate | 27.6% | 13.2% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Carter County has a homeownership rate of 45.0%, lower than the Montana average of 60.1%. Its housing vacancy rate is 27.6%, compared with 13.2% in Montana.
Housing Stock
| Metric | Carter County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1979 | 1981 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Carter County was built around 1979. On average, 2.1 people live in a home with about 5.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Carter County, Montana.
What is the median home price in Carter County, Montana?
The median home price in Carter County, Montana is $162,500, lower than the Montana average of $249,140.
What is the average home price in Carter County, Montana?
The typical home price in Carter County, Montana, reported as the median sale price, is $162,500. 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 Carter County, Montana?
The median gross rent in Carter County, Montana is $823 per month, lower than the Montana average of $1,081.
What was the median gross rent in Carter County in 2020?
In 2020, the median gross rent in Carter County, Montana was $651 per month.
What is the price-to-rent ratio in Carter County, Montana?
The price-to-rent ratio in Carter County, Montana is about 16.4, meaning it would take roughly 16.4 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Carter County.
Are home prices or rent rising faster in Carter County, Montana?
Both home prices and rent are rising in Carter County, up about 20.2% and 2.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Carter County, Montana?
45.0% of households in Carter County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Carter County, Montana?
The housing vacancy rate in Carter County, Montana is 27.6%, higher than the Montana average of 13.2%.
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