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 | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $242,768 | $242,182 |
| Price Trend (Annual %) | -25.4% | 4.0% | 8.2% |
| Median Gross Rent | $871 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 6.7% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Meagher County is about 69% lower than in Montana. Rent is about 16% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2019
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Meagher County: home prices fell about 25.4% a year while rent rose about 6.7% a year. That is an unusual pattern worth watching.
Median rent in Meagher County rose about 39.4% between 2015 and 2023, from $625 to $871. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Meagher County.
Buying the median-priced home in Meagher County costs roughly 7.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Meagher County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $242,768 | $242,182 |
| Median Household Income | $54,336 | $69,624 | $78,145 |
| Price-to-Income Ratio | 1.4 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2019, the median home price in Meagher County fell about 71.3%, while median household income rose about 62.2% 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 | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.6% | 60.1% | 58.2% |
| Rental Rate | 10.8% | 26.5% | 31.3% |
| Vacancy Rate | 38.6% | 13.4% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Meagher County has a homeownership rate of 50.6%, lower than the Montana average of 60.1%. Its housing vacancy rate is 38.6%, compared with 13.4% in Montana.
Housing Stock
| Metric | Meagher County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.17 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1975 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.6 | 5.5 |
The typical housing unit in Meagher County was built around 1975. On average, 2.2 people live in a home with about 5.4 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Meagher County, Montana.
What is the median home price in Meagher County, Montana?
The median home price in Meagher County, Montana is $75,000, lower than the Montana average of $242,768.
What is the average home price in Meagher 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 Meagher County, Montana?
The median gross rent in Meagher County, Montana is $871 per month, lower than the Montana average of $1,031.
What was the median gross rent in Meagher County in 2020?
In 2020, the median gross rent in Meagher County, Montana was $580 per month.
What is the price-to-rent ratio in Meagher County, Montana?
The price-to-rent ratio in Meagher County, Montana is about 7.2, meaning it would take roughly 7.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Meagher County.
Are home prices or rent rising faster in Meagher County, Montana?
Home prices and rent are moving in opposite directions in Meagher County: home prices fell about 25.4% a year while rent rose about 6.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Meagher County, Montana?
50.6% of households in Meagher County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Meagher County, Montana?
The housing vacancy rate in Meagher County, Montana is 38.6%, higher than the Montana average of 13.4%.