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 | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,562 | $242,768 | $242,182 |
| Price Trend (Annual %) | 21.2% | 4.0% | 8.2% |
| Median Gross Rent | $542 | $1,031 | $1,342 |
| Rent Trend (Annual %) | -0.3% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in McCone County is about 38% lower than in Montana. Rent is about 47% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2022-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in McCone County: home prices rose about 21.2% a year while rent fell about 0.3% a year. That is an unusual pattern worth watching.
Median rent in McCone County fell about 1.2% between 2015 and 2023, from $549 to $542. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 2.1 yearly household incomes in McCone County.
Buying the median-priced home in McCone County costs roughly 23.3 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 McCone County. The price-to-rent ratio in Montana is about 19.6.
| Metric | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,562 | $242,768 | $242,182 |
| Median Household Income | $71,458 | $69,624 | $78,145 |
| Price-to-Income Ratio | 2.1 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2022 and 2023, the median home price in McCone County rose about 21.2%, while median household income rose about 71.9% 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 | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.1% | 60.1% | 58.2% |
| Rental Rate | 10.5% | 26.5% | 31.3% |
| Vacancy Rate | 24.4% | 13.4% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
McCone County has a homeownership rate of 65.1%, higher than the Montana average of 60.1%. Its housing vacancy rate is 24.4%, compared with 13.4% in Montana.
Housing Stock
| Metric | McCone County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1969 | 1980 | 1978 |
| Median Number of Rooms | 6.6 | 5.6 | 5.5 |
The typical housing unit in McCone County was built around 1969. On average, 2.2 people live in a home with about 6.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in McCone County, Montana.
What is the median home price in McCone County, Montana?
The median home price in McCone County, Montana is $151,562, lower than the Montana average of $242,768.
What is the average home price in McCone 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 McCone County, Montana?
The median gross rent in McCone County, Montana is $542 per month, lower than the Montana average of $1,031.
What was the median gross rent in McCone County in 2020?
In 2020, the median gross rent in McCone County, Montana was $519 per month.
What is the price-to-rent ratio in McCone County, Montana?
The price-to-rent ratio in McCone County, Montana is about 23.3, meaning it would take roughly 23.3 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 McCone County.
Are home prices or rent rising faster in McCone County, Montana?
Home prices and rent are moving in opposite directions in McCone County: home prices rose about 21.2% a year while rent fell about 0.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in McCone County, Montana?
65.1% of households in McCone County, Montana own their home, higher than the Montana average of 60.1%.
What is the vacancy rate in McCone County, Montana?
The housing vacancy rate in McCone County, Montana is 24.4%, higher than the Montana average of 13.4%.