Yellowstone County, Montana Housing Market Prices
Yellowstone 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 7% below the Montana median$232,715
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Median rent 5% above the Montana median More expensive than 89% of counties in Montana$1,130
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Yellowstone County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,715 | $249,140 | $248,835 |
| Price Trend (Annual %) | 0.2% | 3.8% | 7.5% |
| Median Gross Rent | $1,130 | $1,081 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 5.0% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Yellowstone County is about 7% lower than in Montana. Rent is about 5% higher 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 Yellowstone County, up about 0.2% and 4.5% a year respectively. Rent is changing faster.
Median rent in Yellowstone County rose about 48.5% between 2015 and 2024, from $761 to $1,130. Over the same span, rent in Montana rose about 52.0%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Yellowstone County.
Buying the median-priced home in Yellowstone County costs roughly 17.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Yellowstone County. The price-to-rent ratio in Montana is about 19.2.
| Metric | Yellowstone County | Montana Avg | US Average |
|---|---|---|---|
| Median Home Price | $232,715 | $249,140 | $248,835 |
| Median Household Income | $77,024 | $72,476 | $80,455 |
| Price-to-Income Ratio | 3.0 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Yellowstone County rose about 0.3%, while median household income rose about 55.8% between 2009 and 2025 — 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 | Yellowstone County | Montana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.5% | 60.1% | 58.5% |
| Rental Rate | 28.6% | 26.8% | 31.2% |
| Vacancy Rate | 5.8% | 13.2% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 | 2011 |
Yellowstone County has a homeownership rate of 65.5%, higher than the Montana average of 60.1%. Its housing vacancy rate is 5.8%, compared with 13.2% in Montana.
Housing Stock
| Metric | Yellowstone County | Montana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1983 | 1981 | 1978 |
| Median Number of Rooms | 6.1 | 5.6 | 5.5 |
The typical housing unit in Yellowstone County was built around 1983. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 14.0 years on average.
Yellowstone County, MT Housing Compared With Nearby Counties
How Yellowstone County, MT compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Yellowstone County, MT | 168,956 | $232,715 #2/2 | $1,130 #2/2 | 69.6% #2/2 |
| Musselshell County, MT | 5,152 | $450,000 | $1,137 | 85.1% |
Frequently Asked Questions
Common questions about the housing market in Yellowstone County, Montana.
What is the median home price in Yellowstone County, Montana?
The median home price in Yellowstone County, Montana is $232,715, lower than the Montana average of $249,140.
What is the average home price in Yellowstone County, Montana?
The typical home price in Yellowstone County, Montana, reported as the median sale price, is $232,715. 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 Yellowstone County, Montana?
The median gross rent in Yellowstone County, Montana is $1,130 per month, higher than the Montana average of $1,081.
What was the median gross rent in Yellowstone County in 2020?
In 2020, the median gross rent in Yellowstone County, Montana was $910 per month.
What is the price-to-rent ratio in Yellowstone County, Montana?
The price-to-rent ratio in Yellowstone County, Montana is about 17.2, meaning it would take roughly 17.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Yellowstone County.
Are home prices or rent rising faster in Yellowstone County, Montana?
Both home prices and rent are rising in Yellowstone County, up about 0.2% and 4.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Yellowstone County, Montana?
65.5% of households in Yellowstone County, Montana own their home, higher than the Montana average of 60.1%.
What is the vacancy rate in Yellowstone County, Montana?
The housing vacancy rate in Yellowstone County, Montana is 5.8%, lower than the Montana average of 13.2%.
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