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 | Deer Lodge County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $145,277 | $242,768 | $242,182 |
| Price Trend (Annual %) | 27.3% | 4.0% | 8.2% |
| Median Gross Rent | $661 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Deer Lodge County is about 40% lower than in Montana. Rent is about 36% 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 Deer Lodge County, up about 27.3% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Deer Lodge County rose about 30.7% between 2015 and 2023, from $505 to $661. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Deer Lodge County.
Buying the median-priced home in Deer Lodge County costs roughly 18.3 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 Deer Lodge County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Deer Lodge County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $145,277 | $242,768 | $242,182 |
| Median Household Income | $49,515 | $69,624 | $78,145 |
| Price-to-Income Ratio | 2.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Deer Lodge County rose about 70.4%, while median household income rose about 46.7% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Deer Lodge County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.5% | 60.1% | 58.2% |
| Rental Rate | 25.3% | 26.5% | 31.3% |
| Vacancy Rate | 17.2% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Deer Lodge County has a homeownership rate of 57.5%, lower than the Montana average of 60.1%. Its housing vacancy rate is 17.2%, compared with 13.4% in Montana.
Housing Stock
| Metric | Deer Lodge County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.90 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1953 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.6 | 5.5 |
The typical housing unit in Deer Lodge County was built around 1953. On average, 1.9 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Deer Lodge County, Montana.
What is the median home price in Deer Lodge County, Montana?
The median home price in Deer Lodge County, Montana is $145,277, lower than the Montana average of $242,768.
What is the average home price in Deer Lodge 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 Deer Lodge County, Montana?
The median gross rent in Deer Lodge County, Montana is $661 per month, lower than the Montana average of $1,031.
What was the median gross rent in Deer Lodge County in 2020?
In 2020, the median gross rent in Deer Lodge County, Montana was $541 per month.
What is the price-to-rent ratio in Deer Lodge County, Montana?
The price-to-rent ratio in Deer Lodge County, Montana is about 18.3, meaning it would take roughly 18.3 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 Deer Lodge County.
Are home prices or rent rising faster in Deer Lodge County, Montana?
Both home prices and rent are rising in Deer Lodge County, up about 27.3% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Deer Lodge County, Montana?
57.5% of households in Deer Lodge County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Deer Lodge County, Montana?
The housing vacancy rate in Deer Lodge County, Montana is 17.2%, higher than the Montana average of 13.4%.