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 | Custer County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,581 | $242,768 | $242,182 |
| Price Trend (Annual %) | -2.7% | 4.0% | 8.2% |
| Median Gross Rent | $918 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 5.5% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Custer County is about 65% lower than in Montana. Rent is about 11% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Custer County: home prices fell about 2.7% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
Median rent in Custer County rose about 50.0% between 2015 and 2023, from $612 to $918. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 1.3 yearly household incomes in Custer County.
Buying the median-priced home in Custer County costs roughly 7.8 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 Custer County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Custer County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $85,581 | $242,768 | $242,182 |
| Median Household Income | $65,496 | $69,624 | $78,145 |
| Price-to-Income Ratio | 1.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Custer County fell about 37.5%, while median household income rose about 69.8% 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 | Custer County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.9% | 60.1% | 58.2% |
| Rental Rate | 27.5% | 26.5% | 31.3% |
| Vacancy Rate | 12.6% | 13.4% | 10.6% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Custer County has a homeownership rate of 59.9%, about the same as the Montana average of 60.1%. Its housing vacancy rate is 12.6%, compared with 13.4% in Montana.
Housing Stock
| Metric | Custer County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1961 | 1980 | 1978 |
| Median Number of Rooms | 5.8 | 5.6 | 5.5 |
The typical housing unit in Custer County was built around 1961. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Custer County, Montana.
What is the median home price in Custer County, Montana?
The median home price in Custer County, Montana is $85,581, lower than the Montana average of $242,768.
What is the average home price in Custer 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 Custer County, Montana?
The median gross rent in Custer County, Montana is $918 per month, lower than the Montana average of $1,031.
What was the median gross rent in Custer County in 2020?
In 2020, the median gross rent in Custer County, Montana was $880 per month.
What is the price-to-rent ratio in Custer County, Montana?
The price-to-rent ratio in Custer County, Montana is about 7.8, meaning it would take roughly 7.8 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 Custer County.
Are home prices or rent rising faster in Custer County, Montana?
Home prices and rent are moving in opposite directions in Custer County: home prices fell about 2.7% a year while rent rose about 5.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Custer County, Montana?
59.9% of households in Custer County, Montana own their home, about the same as the Montana average.
What is the vacancy rate in Custer County, Montana?
The housing vacancy rate in Custer County, Montana is 12.6%, lower than the Montana average of 13.4%.