Housing Market Overview
| Metric |
Petroleum County |
Montana Avg |
US Average |
| Median Home Price |
— |
$242,768 |
$242,182 |
| Price Trend (Annual %) |
— |
4.0% |
8.2% |
| Median Gross Rent |
$768 |
$1,031 |
$1,342 |
| Rent Trend (Annual %) |
8.6% |
5.1% |
5.1% |
| Household Income Trend (Annual %) |
— |
— |
— |
Affordability
| Metric |
Petroleum County |
Montana Avg |
US Average |
| Median Home Price |
— |
$242,768 |
$242,182 |
| Median Household Income |
$57,856 |
$69,624 |
$78,145 |
| Price-to-Income Ratio |
— |
3.5 |
3.1 |
Occupancy & Tenure
| Metric |
Petroleum County |
Montana Avg |
US Average |
|
Homeownership Rate
|
52.2% |
60.1% |
58.2% |
| Rental Rate |
15.6% |
26.5% |
31.3% |
| Vacancy Rate |
32.2% |
13.4% |
10.6% |
|
Median Tenure (years)
|
19.0 |
15.0 |
15.0 |
| Median Year Moved In |
2007 |
2011 |
2011 |
Housing Stock
| Metric |
Petroleum County |
Montana Avg |
US Average |
| Average Household Size |
2.01 people |
2.38 people |
2.54 people |
| Median Structure Built Year |
1979 |
1980 |
1978 |
| Median
Number of Rooms
|
5.9 |
5.6 |
5.5 |