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 | Liberty County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,778 | $242,768 | $242,182 |
| Price Trend (Annual %) | 7.7% | 4.0% | 8.2% |
| Median Gross Rent | $667 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 4.1% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Liberty County is about 27% lower than in Montana. Rent is about 35% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Liberty County, up about 7.7% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Liberty County rose about 29.1% between 2015 and 2023, from $517 to $667. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Liberty County.
Buying the median-priced home in Liberty County costs roughly 22.2 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 Liberty County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Liberty County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $177,778 | $242,768 | $242,182 |
| Median Household Income | $54,687 | $69,624 | $78,145 |
| Price-to-Income Ratio | 3.3 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Liberty County rose about 50.8%, while median household income rose about 40.8% 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 | Liberty County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.9% | 60.1% | 58.2% |
| Rental Rate | 29.4% | 26.5% | 31.3% |
| Vacancy Rate | 17.7% | 13.4% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Liberty County has a homeownership rate of 52.9%, lower than the Montana average of 60.1%. Its housing vacancy rate is 17.7%, compared with 13.4% in Montana.
Housing Stock
| Metric | Liberty County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1962 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Liberty County was built around 1962. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Liberty County, Montana.
What is the median home price in Liberty County, Montana?
The median home price in Liberty County, Montana is $177,778, lower than the Montana average of $242,768.
What is the average home price in Liberty 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 Liberty County, Montana?
The median gross rent in Liberty County, Montana is $667 per month, lower than the Montana average of $1,031.
What was the median gross rent in Liberty County in 2020?
In 2020, the median gross rent in Liberty County, Montana was $579 per month.
What is the price-to-rent ratio in Liberty County, Montana?
The price-to-rent ratio in Liberty County, Montana is about 22.2, meaning it would take roughly 22.2 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 Liberty County.
Are home prices or rent rising faster in Liberty County, Montana?
Both home prices and rent are rising in Liberty County, up about 7.7% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Liberty County, Montana?
52.9% of households in Liberty County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Liberty County, Montana?
The housing vacancy rate in Liberty County, Montana is 17.7%, higher than the Montana average of 13.4%.