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 | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,001 | $242,768 | $242,182 |
| Price Trend (Annual %) | -0.7% | 4.0% | 8.2% |
| Median Gross Rent | $770 | $1,031 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 5.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Powell County is about 80% lower than in Montana. Rent is about 25% lower than the Montana average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Powell County: home prices fell about 0.7% a year while rent rose about 5.0% a year. That is an unusual pattern worth watching.
Median rent in Powell County rose about 46.7% between 2015 and 2023, from $525 to $770. Over the same span, rent in Montana rose about 45.0%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Powell County.
Buying the median-priced home in Powell County costs roughly 5.2 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 Powell County. The price-to-rent ratio in Montana is about 19.6.
| Metric | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,001 | $242,768 | $242,182 |
| Median Household Income | $63,394 | $69,624 | $78,145 |
| Price-to-Income Ratio | 0.8 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Powell County fell about 45.1%, while median household income rose about 57.1% 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 | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.9% | 60.1% | 58.2% |
| Rental Rate | 24.1% | 26.5% | 31.3% |
| Vacancy Rate | 20.9% | 13.4% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Powell County has a homeownership rate of 54.9%, lower than the Montana average of 60.1%. Its housing vacancy rate is 20.9%, compared with 13.4% in Montana.
Housing Stock
| Metric | Powell County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.38 people | 2.54 people |
| Median Structure Built Year | 1969 | 1980 | 1978 |
| Median Number of Rooms | 5.7 | 5.6 | 5.5 |
The typical housing unit in Powell County was built around 1969. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Powell County, Montana.
What is the median home price in Powell County, Montana?
The median home price in Powell County, Montana is $48,001, lower than the Montana average of $242,768.
What is the average home price in Powell 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 Powell County, Montana?
The median gross rent in Powell County, Montana is $770 per month, lower than the Montana average of $1,031.
What was the median gross rent in Powell County in 2020?
In 2020, the median gross rent in Powell County, Montana was $651 per month.
What is the price-to-rent ratio in Powell County, Montana?
The price-to-rent ratio in Powell County, Montana is about 5.2, meaning it would take roughly 5.2 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 Powell County.
Are home prices or rent rising faster in Powell County, Montana?
Home prices and rent are moving in opposite directions in Powell County: home prices fell about 0.7% a year while rent rose about 5.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Powell County, Montana?
54.9% of households in Powell County, Montana own their home, lower than the Montana average of 60.1%.
What is the vacancy rate in Powell County, Montana?
The housing vacancy rate in Powell County, Montana is 20.9%, higher than the Montana average of 13.4%.