Montana housing market: home prices by city and forecast
Montana home prices: according to the Zillow Home Value Index, a typical Montana home was worth $467,275 in September 2026, up +2.0% from a year earlier.
- Typical value of a home
- $467,275September 2026, Zillow ZHVI
- Change over 12 months
- +2.0%US +1.2%
- Change over 10 years
- +105.1%US +77.4%
- The ratio of price to income
- 6.2. The median income is $75,340.
Among the 50 states and DC, the rankings are 14th for typical home value and 28th for the 12-month change, listed highest first. Price to income ranks 4th.
Montana home prices since 2000
A typical Montana home rose from $160,516 in February 2005 to $467,275, reaching its highest monthly value of $467,275 in September 2026.
| Decade | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2000s | $178,733 | $189,958 | $193,989 | $190,611 | ||||||
| 2010s | $184,864 | $178,933 | $182,193 | $192,075 | $202,708 | $215,362 | $227,096 | $237,772 | $252,089 | $265,577 |
| 2020s | $287,229 | $357,810 | $432,489 | $434,075 | $450,832 | $459,529 |
Montana home prices since 1975: the FHFA index
FHFA's repeat-sales index (1975 = 100) put Montana at 1467 in 2025. Year over year, the index was +2.7% in Q2 2026.
Owner-reported Census of Housing values show Montana at $1,651 in 1940 and $99,500 in 2000.
| Census year | Montana median value | US median value |
|---|---|---|
| 1940 | $1,651 | $2,938 |
| 1950 | $5,797 | $7,354 |
| 1960 | $10,900 | $11,900 |
| 1970 | $14,000 | $17,000 |
| 1980 | $46,500 | $47,200 |
| 1990 | $56,600 | $79,100 |
| 2000 | $99,500 | $119,600 |
No inflation adjustment applies to these figures. Census of Housing tables
Home prices in Montana by city
4 cities have their own page here, listed largest first:
| City | Typical value of a home | Change over 12 months | Multiple since 2000 |
|---|---|---|---|
| Billings | $401,071 | +2.4% | |
| Missoula | $563,970 | +1.1% | |
| Bozeman | $721,678 | +0.8% | |
| Kalispell | $556,201 | +1.8% | |
| Great Falls | $337,936 | +2.7% | |
| Helena | $477,974 | +2.9% | |
| Butte | $286,353 | +3.1% | |
| Belgrade | $548,412 | −0.1% | |
| Columbia Falls | $607,467 | +2.0% | |
| Whitefish | $870,463 | +1.7% | |
| Hamilton | $529,339 | +1.3% | |
| Laurel | $377,680 | +0.9% | |
| Livingston | $533,190 | −0.3% | |
| Havre | $229,717 | +4.7% | |
| Miles City | $246,140 | +8.5% |
Zillow Home Value Index, September 2026.
Montana price forecasts by metro area
Zillow's forecasts for the next 12 months, from September 2026 for 4 Montana metros, span +2.0% to +2.6%:
| Metro | Next 3 months | Next 12 months |
|---|---|---|
| Billings, MT | +0.9% | +2.6% |
| Missoula, MT | +1.0% | +2.6% |
| Bozeman, MT | +1.2% | +2.5% |
| Kalispell, MT | +0.7% | +2.0% |
This is Zillow's estimate, not investment advice.
Living costs in Montana
Montana has a price level of 94.6 (US 100). Housing stands at 84.6, goods at 96.0, utilities at 72.3, and other services at 98.7 (BEA). Median household income is $75,340, while median gross rent is $1,177 a month (Census ACS 2024). Owner-occupied homes account for 69%, and the median year built is 1983.
See cost of living by state for all states. City pages cover Billings and Bozeman.
Making sense of this chart
The first chart uses dollars and reaches its high of $467,275 in September 2026. The second one is an index: the line for Montana ends at 1467, which puts prices there at 14.7 times their 1975 level. Inflation adjustments apply to neither figure.