Petroleum County, Montana Housing Market Prices
Petroleum 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 priceN/A
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Median rent 26% below the Montana median$799
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Petroleum County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $249,140 | $248,835 |
| Price Trend (Annual %) | — | 3.8% | 7.5% |
| Median Gross Rent | $799 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 8.0% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Rent is about 26% lower than the Montana average.
Affordability
| Metric | Petroleum County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $249,140 | $248,835 |
| Median Household Income | $60,208 | $72,476 | $80,455 |
| Price-to-Income Ratio | — | 3.4 | 3.1 |
Occupancy & Tenure
| Metric | Petroleum County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.8% | 60.1% | 58.5% |
| Rental Rate | 19.3% | 26.8% | 31.2% |
| Vacancy Rate | 28.9% | 13.2% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Petroleum County has a homeownership rate of 51.8%, lower than the Montana average of 60.1%. Its housing vacancy rate is 28.9%, compared with 13.2% in Montana.
Housing Stock
| Metric | Petroleum County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.02 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1983 | 1981 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Petroleum County was built around 1983. On average, 2.0 people live in a home with about 5.5 rooms, staying for about 19.0 years on average.
Petroleum County, MT Housing Compared With Nearby Counties
Petroleum County, MT is the smallest of the 4 counties compared here, 447 residents against a local median of 11,687. Petroleum County, MT's median rent, at $799, runs 29% below the $1,130 typical of the counties around it.
The counties themselves spread $184 on median rent, so Petroleum County, MT sits at one end of an already wide local range rather than apart from it. Petroleum County, MT has the 4th highest median rent of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Petroleum County, MT | 447 | — | $799 #4/4 | 72.9% #2/4 |
| Musselshell County, MT | 5,152 | $450,000 | $1,137 | 85.1% |
| Fergus County, MT | 11,687 | $162,717 | $953 | 63.4% |
| Yellowstone County, MT | 168,956 | $232,715 | $1,130 | 69.6% |
Frequently Asked Questions
Common questions about the housing market in Petroleum County, Montana.
What is the median rent in Petroleum County, Montana?
The median gross rent in Petroleum County, Montana is $799 per month, lower than the Montana average of $1,081.
What was the median gross rent in Petroleum County in 2020?
In 2020, the median gross rent in Petroleum County, Montana was $477 per month.
What is the homeownership rate in Petroleum County, Montana?
51.8% of households in Petroleum County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Petroleum County, Montana?
The housing vacancy rate in Petroleum County, Montana is 28.9%, higher than the Montana average of 13.2%.
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