The Montana Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Montana

💡 Key Montana housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $463,645[1]#11 of 50 states26.5% higher
Median Listing Price $625,000[2]#6 of 50 states42.9% higher
Median Sale Price $514,900[3]#7 of 50 states26.2% higher
30 Year Mortgage Rate 7.05%[4]#42 of 50 states1.1% higher
Median Days on Market 74[5]#50 of 50 states48.2% longer
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🗺️ Buying a house in the Montana real estate market

Montana has an affordability score of 9.1, meaning it takes 9.1 years of the median household income ($56,539) to afford Montana's median home sale price ($514,900). Because of this, we rank Montana as the 3rd least affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $514,900[6]#7 of 50 states26.2% higher
30 Year Mortgage Rate 7.05%[7]#42 of 50 states1.1% higher
Median Household Income $56,539[8]#40 of 50 states12.4% lower
Affordability Ratio 9.1#48 of 50 states45.8% higher
Buyers Agent Commission 2.50%[9]#11 of 50 states6.5% lower
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Resources for Montana home buyers

🗺️ Selling a house in the Montana real estate market

According to our detailed survey of Montana real estate agents, listing agents (those representing the seller) charge an average commission in Montana of 3%, which is the 14th highest in the United States. Buyers' agents charge an average commission of 2.5%, which is the 11th lowest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $625,000[10]#6 of 50 states42.9% higher
Median Sale Price $514,900[11]#7 of 50 states26.2% higher
Median Days on Market 74[12]#50 of 50 states48.2% longer
Buyer's Agent Commission 2.50%[13]#11 of 50 states6.5% lower
Listing Agent Commission 3.00%[14]#37 of 50 states5% higher
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Resources for Montana home sellers

Moving to Montana

According to our recent moving trends survey[15], 9% of Americans indicated that they would choose to move to Montana if money were no object.

Here's how Montana cities rank in a number of our research studies.

StudyBest Montana cityRank
Best Pizza Cities[16]No ranking Montana citiesNo ranking Montana cities
Best Coffee Cities[17]No ranking Montana citiesNo ranking Montana cities
Best LGBTQ Cities[18]No ranking Montana citiesNo ranking Montana cities
Best Bike Cities[19]No ranking Montana citiesNo ranking Montana cities
Best Commuter Cities[20]No ranking Montana citiesNo ranking Montana cities
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Article Sources

[1] Zillow – "Zillow Home Value Index". Updated April 30, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[3] Redfin – "Redfin Data Center". Updated March 2024.
[4] Bankrate – "Bankrate". Updated May 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[6] Redfin – "Redfin Data Center". Updated March 2024.
[7] Bankrate – "Bankrate". Updated May 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[11] Redfin – "Redfin Data Center". Updated March 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated March 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated May 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

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