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 | Lincoln County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,499 | $242,768 | $242,182 |
| Price Trend (Annual %) | 11.3% | 4.0% | 8.2% |
| Median Gross Rent | $810 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 3.1% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lincoln County is about 18% higher than in Montana. Rent is about 21% 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 Lincoln County, up about 11.3% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Lincoln County rose about 34.6% between 2015 and 2023, from $602 to $810. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 6.1 yearly household incomes in Lincoln County.
Buying the median-priced home in Lincoln County costs roughly 29.6 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 Lincoln County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Lincoln County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,499 | $242,768 | $242,182 |
| Median Household Income | $47,350 | $69,624 | $78,145 |
| Price-to-Income Ratio | 6.1 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lincoln County rose about 22.6%, while median household income rose about 46.6% 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 | Lincoln County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 63.7% | 60.1% | 58.2% |
| Rental Rate | 16.9% | 26.5% | 31.3% |
| Vacancy Rate | 19.4% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Lincoln County has a homeownership rate of 63.7%, higher than the Montana average of 60.1%. Its housing vacancy rate is 19.4%, compared with 13.4% in Montana.
Housing Stock
| Metric | Lincoln County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1982 | 1980 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Lincoln County was built around 1982. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lincoln County, Montana.
What is the median home price in Lincoln County, Montana?
The median home price in Lincoln County, Montana is $287,499, higher than the Montana average of $242,768.
What is the average home price in Lincoln 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 Lincoln County, Montana?
The median gross rent in Lincoln County, Montana is $810 per month, lower than the Montana average of $1,031.
What was the median gross rent in Lincoln County in 2020?
In 2020, the median gross rent in Lincoln County, Montana was $728 per month.
What is the price-to-rent ratio in Lincoln County, Montana?
The price-to-rent ratio in Lincoln County, Montana is about 29.6, meaning it would take roughly 29.6 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 Lincoln County.
Are home prices or rent rising faster in Lincoln County, Montana?
Both home prices and rent are rising in Lincoln County, up about 11.3% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lincoln County, Montana?
63.7% of households in Lincoln County, Montana own their home, higher than the Montana average of 60.1%.
What is the vacancy rate in Lincoln County, Montana?
The housing vacancy rate in Lincoln County, Montana is 19.4%, higher than the Montana average of 13.4%.