Madison County, Montana Housing Market Prices
Madison County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 64% above the Montana median More expensive than 85% of counties in Montana$409,369
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Median rent 7% below the Montana median More expensive than 84% of counties in Montana$1,000
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Madison County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $409,369 | $249,140 | $248,835 |
| Price Trend (Annual %) | 40.7% | 3.8% | 7.5% |
| Median Gross Rent | $1,000 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Madison County is about 64% higher than in Montana. Rent is about 7% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Madison County, up about 40.7% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Madison County rose about 44.8% between 2015 and 2024, from $690 to $1,000. Over the same span, rent in Montana rose about 52.0%.
Affordability
On average, housing unit costs 5.4 yearly household incomes in Madison County.
Buying the median-priced home in Madison County costs roughly 34.1 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 Madison County. The price-to-rent ratio in Montana is about 19.2.
| Metric | Madison County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $409,369 | $249,140 | $248,835 |
| Median Household Income | $75,394 | $72,476 | $80,455 |
| Price-to-Income Ratio | 5.4 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Madison County rose about 131.3%, while median household income rose about 57.4% between 2009 and 2025 — 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 | Madison County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 47.3% | 60.1% | 58.5% |
| Rental Rate | 11.1% | 26.8% | 31.2% |
| Vacancy Rate | 41.5% | 13.2% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Madison County has a homeownership rate of 47.3%, lower than the Montana average of 60.1%. Its housing vacancy rate is 41.5%, compared with 13.2% in Montana.
Housing Stock
| Metric | Madison County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1992 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Madison County was built around 1992. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Madison County, MT Housing Compared With Nearby Counties
How Madison County, MT compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Madison County, MT | 9,223 | $409,369 #2/3 | $1,000 #2/3 | 81.0% #1/3 |
| Gallatin County, MT | 124,072 | $980,852 | $1,694 | 61.1% |
| Silver Bow County, MT | 35,793 | $165,062 | $863 | 70.8% |
Frequently Asked Questions
Common questions about the housing market in Madison County, Montana.
What is the median home price in Madison County, Montana?
The median home price in Madison County, Montana is $409,369, higher than the Montana average of $249,140.
What is the average home price in Madison County, Montana?
The typical home price in Madison County, Montana, reported as the median sale price, is $409,369. 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 Madison County, Montana?
The median gross rent in Madison County, Montana is $1,000 per month, lower than the Montana average of $1,081.
What was the median gross rent in Madison County in 2020?
In 2020, the median gross rent in Madison County, Montana was $855 per month.
What is the price-to-rent ratio in Madison County, Montana?
The price-to-rent ratio in Madison County, Montana is about 34.1, meaning it would take roughly 34.1 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 Madison County.
Are home prices or rent rising faster in Madison County, Montana?
Both home prices and rent are rising in Madison County, up about 40.7% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Madison County, Montana?
47.3% of households in Madison County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Madison County, Montana?
The housing vacancy rate in Madison County, Montana is 41.5%, higher than the Montana average of 13.2%.
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