Cut Bank is home to the best residential real estate investment market in Montana.
The 59427 zip code in Cut Bank presents the greatest opportunity for the best real estate investments among the 1,608 individual real estate markets in Montana we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
5 best places to invest in Montana
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Cut Bank | 100 | 2.7 | 70.00% |
| 2 | Lewistown | 83.9 | 4.2 | 66.00% |
| 3 | Deer Lodge | 82.2 | 4.5 | 67.00% |
| 4 | Anaconda | 80.3 | 4.9 | 78.00% |
| 5 | Great Falls | 75 | 4.5 | 54.00% |
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1. Cut Bank
We've identified the 59427 zip code in Cut Bank as Montana's best real estate investment market. Here's why.
🔎 Key data about Cut Bank
| Data point | Value | Rank in state (of 1,608 markets) |
|---|---|---|
| Zip code | 59427 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $166,309[1] | 3rd lowest |
| Five-year appreciation | 70.00%[2] | 2nd highest |
| Household income | $61,094[3] | 37th highest |
| Affordability ratio | 2.7 | 3rd most affordable |
| Five-year population growth | 1.1%[4] | 24th highest |
| Unemployment rate | 2.10%[5] | lowest |
| Property taxes | $1,535[6] | 2nd lowest |
| Educational attainment | 15%[7] | 41st highest |
Cut Bank (zip code 59427) is the best residential real estate investment market in Montana. It has the 2nd highest property value appreciation among markets we evaluated, with a 70.00% appreciation of the typical property over the last five years.
Cut Bank is the 3rd most affordable market among the 1,608 Montana markets we evaluated, with an affordability ratio of 2.7.
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2. Lewistown
The 59457 zip code in Lewistown is the runner-up spot for the best real estate investments in Montana.
🔎 Key data about Lewistown
| Data point | Value | Rank in state (of 1,608 markets) |
|---|---|---|
| Zip code | 59457 | N/A |
| InvestScore | 83.9 | 2nd highest |
| Typical property value | $271,666[8] | 10th lowest |
| Five-year appreciation | 66.00%[9] | 5th highest |
| Household income | $64,762[10] | 31st highest |
| Affordability ratio | 4.2 | 10th most affordable |
| Five-year population growth | -0.9%[11] | 36th highest |
| Unemployment rate | 2.10%[12] | lowest |
| Property taxes | $1,989[13] | 7th lowest |
| Educational attainment | 23%[14] | 34th highest |
The 59457 zip code in Lewistown features a typical property value of $271,666, the 10th lowest in the state.
Property values have appreciated 66.00% over the past five years, the 5th highest increase among evaluated markets in the state. Lewistown homes have an affordability ratio of 4.2, the 10th most affordable in the state.
3. Deer Lodge
The 59722 zip code in Deer Lodge comes in at No. 3 in our ranking of the best residential real estate investment markets in Montana.
🔎 Key data about Deer Lodge
| Data point | Value | Rank in state (of 1,608 markets) |
|---|---|---|
| Zip code | 59722 | N/A |
| InvestScore | 82.2 | 3rd highest |
| Typical property value | $278,125[15] | 11th lowest |
| Five-year appreciation | 67.00%[16] | 4th highest |
| Household income | $62,230[17] | 32nd highest |
| Affordability ratio | 4.5 | 13th most affordable |
| Five-year population growth | 0.6%[18] | 28th highest |
| Unemployment rate | 2.10%[19] | lowest |
| Property taxes | $2,172[20] | 11th lowest |
| Educational attainment | 18%[21] | 39th highest |
With a typical property value of $278,125, Deer Lodge's 59722 zip code features the 11th lowest property values in the state.
Deer Lodge homes have an affordability ratio of 4.5, the 13th most affordable among the markets we evaluated.
4. Anaconda
The 59711 zip code in Anaconda ranks No. 4 among Montana's residential real estate investment markets.
🔎 Key data about Anaconda
| Data point | Value | Rank in state (of 1,608 markets) |
|---|---|---|
| Zip code | 59711 | N/A |
| InvestScore | 80.3 | 4th highest |
| Typical property value | $287,508[22] | 13th lowest |
| Five-year appreciation | 78.00%[23] | highest |
| Household income | $58,157[24] | highest |
| Affordability ratio | 4.9 | 17th most affordable |
| Five-year population growth | 0.7%[25] | 27th highest |
| Unemployment rate | 2.10%[26] | lowest |
| Property taxes | $1,856[27] | 6th lowest |
| Educational attainment | 25%[28] | 30th highest |
Property values in Anaconda's 59711 zip code have seen the highest increase among evaluated markets in the state, with an appreciation of 78.00% over the past five years.
Anaconda's affordability ratio of 4.9 makes it the 17th most affordable among the 1,608 markets we evaluated.
5. Great Falls
The 59404 zip code in Great Falls rounds out our top five residential real estate investment markets in Montana.
🔎 Key data about Great Falls
| Data point | Value | Rank in state (of 1,608 markets) |
|---|---|---|
| Zip code | 59404 | N/A |
| InvestScore | 75 | 5th highest |
| Typical property value | $379,743[29] | 20th lowest |
| Five-year appreciation | 54.00%[30] | 14th highest |
| Household income | $83,867[31] | 14th highest |
| Affordability ratio | 4.5 | 14th most affordable |
| Five-year population growth | 2.5%[32] | 13th highest |
| Unemployment rate | 3.70%[33] | 6th lowest |
| Property taxes | $2,595[34] | 25th lowest |
| Educational attainment | 31%[35] | 24th highest |
Property values in Great Falls's 59404 zip code rose 54.00% over the last five years, ranking the city 14th highest among evaluated markets in Montana.
Great Falls homes have an affordability ratio of 4.5, the 14th most affordable among the markets we evaluated.
Investing in residential real estate can be one of the best passive real estate investments in Montana.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Montana
To determine the best real estate investments in Montana we evaluated 1,608 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Montana.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
🚨 Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
