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 | Judith Basin County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $183,333 | $242,768 | $242,182 |
| Price Trend (Annual %) | 27.6% | 4.0% | 8.2% |
| Median Gross Rent | $502 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 0.3% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Judith Basin County is about 24% lower than in Montana. Rent is about 51% 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 Judith Basin County, up about 27.6% and 0.3% a year respectively. Home prices are changing faster.
Median rent in Judith Basin County fell about 2.2% between 2015 and 2023, from $513 to $502. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Judith Basin County.
Buying the median-priced home in Judith Basin County costs roughly 30.5 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Judith Basin County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Judith Basin County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $183,333 | $242,768 | $242,182 |
| Median Household Income | $56,864 | $69,624 | $78,145 |
| Price-to-Income Ratio | 3.2 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Judith Basin County rose about 549.8%, while median household income rose about 42.6% 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 | Judith Basin County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.4% | 60.1% | 58.2% |
| Rental Rate | 18.2% | 26.5% | 31.3% |
| Vacancy Rate | 26.4% | 13.4% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Judith Basin County has a homeownership rate of 55.4%, lower than the Montana average of 60.1%. Its housing vacancy rate is 26.4%, compared with 13.4% in Montana.
Housing Stock
| Metric | Judith Basin County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1970 | 1980 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Judith Basin County was built around 1970. On average, 2.3 people live in a home with about 6.1 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Judith Basin County, Montana.
What is the median home price in Judith Basin County, Montana?
The median home price in Judith Basin County, Montana is $183,333, lower than the Montana average of $242,768.
What is the average home price in Judith Basin 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 Judith Basin County, Montana?
The median gross rent in Judith Basin County, Montana is $502 per month, lower than the Montana average of $1,031.
What was the median gross rent in Judith Basin County in 2020?
In 2020, the median gross rent in Judith Basin County, Montana was $546 per month.
What is the price-to-rent ratio in Judith Basin County, Montana?
The price-to-rent ratio in Judith Basin County, Montana is about 30.5, meaning it would take roughly 30.5 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Judith Basin County.
Are home prices or rent rising faster in Judith Basin County, Montana?
Both home prices and rent are rising in Judith Basin County, up about 27.6% and 0.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Judith Basin County, Montana?
55.4% of households in Judith Basin County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Judith Basin County, Montana?
The housing vacancy rate in Judith Basin County, Montana is 26.4%, higher than the Montana average of 13.4%.