Phillips County, Montana Housing Market Prices
Phillips 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 31% below the Montana median$171,874
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Median rent 50% below the Montana median Among the top 5 cheapest counties in Montana$535
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Phillips County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $171,874 | $249,140 | $248,835 |
| Price Trend (Annual %) | 3.3% | 3.8% | 7.5% |
| Median Gross Rent | $535 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 1.5% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Phillips County is about 31% lower than in Montana. Rent is about 50% 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 Phillips County, up about 3.3% and 1.5% a year respectively. Home prices are changing faster.
Median rent in Phillips County rose about 9.3% between 2015 and 2024, from $490 to $535. Over the same span, rent in Montana rose about 52.0%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Phillips County.
Buying the median-priced home in Phillips County costs roughly 26.8 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 Phillips County. The price-to-rent ratio in Montana is about 19.2.
| Metric | Phillips County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $171,874 | $249,140 | $248,835 |
| Median Household Income | $54,198 | $72,476 | $80,455 |
| Price-to-Income Ratio | 3.2 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Phillips County rose about 170.4%, while median household income rose about 40.4% 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 | Phillips County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.1% | 60.1% | 58.5% |
| Rental Rate | 20.9% | 26.8% | 31.2% |
| Vacancy Rate | 21.0% | 13.2% | 10.2% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Phillips County has a homeownership rate of 58.1%, lower than the Montana average of 60.1%. Its housing vacancy rate is 21.0%, compared with 13.2% in Montana.
Housing Stock
| Metric | Phillips County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1971 | 1981 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Phillips County was built around 1971. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 19.0 years on average.
Phillips County, MT Housing Compared With Nearby Counties
How Phillips County, MT compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Phillips County, MT | 4,221 | $171,874 #1/2 | $535 #2/2 | 73.5% #1/2 |
| Fergus County, MT | 11,687 | $162,717 | $953 | 63.4% |
Frequently Asked Questions
Common questions about the housing market in Phillips County, Montana.
What is the median home price in Phillips County, Montana?
The median home price in Phillips County, Montana is $171,874, lower than the Montana average of $249,140.
What is the average home price in Phillips County, Montana?
The typical home price in Phillips County, Montana, reported as the median sale price, is $171,874. 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 Phillips County, Montana?
The median gross rent in Phillips County, Montana is $535 per month, lower than the Montana average of $1,081.
What was the median gross rent in Phillips County in 2020?
In 2020, the median gross rent in Phillips County, Montana was $470 per month.
What is the price-to-rent ratio in Phillips County, Montana?
The price-to-rent ratio in Phillips County, Montana is about 26.8, meaning it would take roughly 26.8 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 Phillips County.
Are home prices or rent rising faster in Phillips County, Montana?
Both home prices and rent are rising in Phillips County, up about 3.3% and 1.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Phillips County, Montana?
58.1% of households in Phillips County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Phillips County, Montana?
The housing vacancy rate in Phillips County, Montana is 21.0%, higher than the Montana average of 13.2%.
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