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Typical Montana home value up 66% in four years

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Typical Montana home value up 66% in four years


Montana’s typical home value has increased by two-thirds in four years, according to new valuations published this month by the Montana Department of Revenue.

The department estimates that the median residential property in Montana was worth $378,000 as of the beginning of last year. Four years previously, before the state housing market blew up during the COVID-19 pandemic, the median value was $228,000 — meaning values have increased 66%.

The department’s valuations, produced every other year for the purpose of calculating property tax bills, are a somewhat delayed look at Montana’s real estate market. The new figures represent the department’s effort to estimate market conditions as of Jan. 1, 2024. 

However, because state law keeps sale prices for individual properties private, the tax valuation data is one of the most comprehensive measures available for the Montana housing market at a time when housing affordability — and property tax bills — are major points of public concern.

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The valuations indicate that the potential market price for the median residential property statewide increased by 35% during the 2023 reappraisal cycle, which accounted for shifts between 2020 and 2022, and then by another 22% with this year’s cycle.

The increases tabulated by the department generally align with data from other sources. A Montana housing price index kept by real estate website Zillow, for example, estimates that the price of the typical Montana home rose by 61% between the start of 2020 and the start of 2024. Zillow’s typical home value estimates are higher than the state figures — $449,000 at the beginning of 2024 and $465,000 as of June.

Buying a median $228,000 home in 2020 with a 10% down payment and a mortgage at the then-average 3.5% interest rate would have required a housing payment of about $921 a month, excluding property taxes and insurance. Four years later, with that median home at $378,000 and interest rates at 6.6%, the monthly housing payment would be about $2,173 — 2.4 times as much.

In comparison, the per-capita personal income available to the average Montanan grew by 26% over the past four years, according to the U.S. Bureau of Economic Analysis. The average personal income as of 2024, $67,625, is enough for a $1,700-a-month housing payment if no more than 30% of income is put toward housing expenses.

Montana elected officials have responded to concerns about rising home prices by passing a number of laws intended to encourage housing construction, in some cases by limiting the power of cities and counties to restrict new development over concerns such as parking availability.

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On the property tax side, lawmakers also passed a major tax code rework this year that aims to address how higher values have translated to higher taxes for homeowners and long-term rental landlords, ultimately shifting much higher taxes to residential properties being used as second homes.

The most expensive home prices are generally in and around Montana’s fast-growing urban centers. Gallatin County, around Bozeman, has the state’s most expensive median home value, at $685,000, according to the state data. That’s a 77% increase in four years. 

Madison County (including both Ennis and portions of Big Sky) has the second-highest median value at $671,000, followed by Flathead County (Kalispell) at $578,000 and Missoula County at $507,000.

Southwest Montana counties that have historically had affordable housing markets saw the fastest value growth. The median values in three southwest Montana counties — Granite (Philipsburg), Deer Lodge (Anaconda) and Madison — have more than doubled in four years.

Flathead County also came close to the doubling threshold, with a 95% increase in prices bringing the county median to $578,000.

Additionally, many rural plains counties in north-central and eastern Montana have also seen hefty increases in excess of 30% or 40%, according to the state data.

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Fergus County, around Lewistown, for example, has seen its median home value increase by 82% in four years, to $242,000. Custer County, around Miles City, has seen a 44% increase, to $194,000.

During the first of the two COVID-era reappraisal cycles, growth was especially focused on western Montana. Some eastern Montana counties, such as Daniels (Scobey), Sheridan (Plentywood) and Roosevelt (Wolf Point) in the state’s northeast corner, actually posted modest value declines.

By the time numbers were tabulated for this year’s cycle, however, higher prices had come to eastern Montana. Daniels County, for example, shifted from an 8% decline to a 36% increase.

Additionally, 30%-plus growth sustained across both cycles in much of western Montana, particularly counties in the state’s northwest corner. Lincoln County, around Libby, for example, saw a 41% increase followed by a 31% one, bringing its median value up from $177,000 to $324,000.

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Montana-vs.-Montana State semifinal sequel set for 2 p.m. Saturday on ABC

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Montana-vs.-Montana State semifinal sequel set for 2 p.m. Saturday on ABC


The first playoff meeting between football rivals Montana and Montana State is set for 2 p.m. Mountain time next Saturday at Bobcat Stadium in Bozeman. The game will air nationally on ABC.

The Bobcats and Grizzlies will square off in the semifinal round of the FCS postseason after each team won convincingly in the quarterfinal round. No. 2-seeded Montana State defeated No. 7 Stephen F. Austin 44-28 at home Friday night and No. 3-seeded Montana raced past No. 11 South Dakota 52-22 on Saturday in Missoula.

Next week’s game between the Cats and Griz will be the 125th all-time meeting, and it will be for a berth in the national championship game Jan. 5 at FirstBank Stadium on the campus of Vanderbilt University in Nashville, Tenn.

It will also be the first time the schools have faced each other twice in football in the same season since 1913.

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The Bobcats are seeking their fourth all-time trip to the FCS/Division I-AA title game and their third visit in the past five years. MSU claims three national championships — 1956 (NAIA), 1976 (NCAA Division II) and 1984 (I-AA). The Bobcats lost to North Dakota State in the championship game in Frisco, Texas, in both 2021 and last season.

The Grizzlies are looking to make their ninth trip to the championship game and their second in the past three seasons. Montana has won two previous titles — in 1995 and 2001. The Griz suffered title-game losses in 1996, 2000, 2004, 2008, 2009 and 2023.

Montana State beat Montana 31-28 in Missoula on Nov. 22 in the regular-season finale to earn the outright Big Sky Conference title and the No. 2 seed for the playoffs. The Grizzlies lead the all-time series 74-44-5 but MSU owns a 12-10 edge since 2002.

Saturday’s other semifinal game pits unseeded Illinois State against No. 12 seed Villanova. Illinois State went on the road and upset No. 8 seed UC Davis 42-31 in the quarterfinals on Saturday while Villanova held on to beat No. 4 seed Tarleton State 26-21.

Illinois State and Villanova will kick off Saturday at 5:30 p.m. Mountain time on ESPN2.

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Oregon women earn 11th victory with win over Montana State

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Oregon women earn 11th victory with win over Montana State


Oregon women’s basketball moved to 11-1 following a 69-44 win over Montana State Sunday at Matthew Knight Arena.

Four of Oregon’s starters scored in double figures, led by guard Sofia Bell’s 15 points.

Mia Jacobs added 13 points and 10 rebounds. Katie Fiso and Ari Long each scored 10 points. Fiso added five assists.

Oregon (11-1) struggled shooting, hitting 19 of 58 field goal attempts (32.8%), including 9 of 31 from three-point range (29%). However, those numbers were mainly dragged down in the fourth quarter when the game was well in hand.

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Oregon, which led 37-14 at halftime, shot just 22.2% from the field in the final quarter and missed all seven of its three-point attempts. MSU won the quarter 16-11.

Bell went 4 of 8 from long distance, Jacobs went 3 of 8 and Long made both of her three-point attempts. The rest of the team went 0-for-13.

Montana State (6-3) received 14 points and four rebounds from Jamison Philip. The Bobcats shot 1 of 19 from three-point range and committed 23 turnovers that the Ducks converted into 25 points.

Next up: The Ducks host Portland (7-4) at 11 a.m. on Thursday. The Pilots defeated Kent State 88-78 on Sunday.



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FCS playoffs roundup: There will be an all-Montana semifinal in the FCS playoffs

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FCS playoffs roundup: There will be an all-Montana semifinal in the FCS playoffs


MISSOULA, Mont. — The No. 3-seeded Montana Grizzlies proved too much to handle on Saturday afternoon, overwhelming the No. 11-seeded South Dakota Coyotes 52-22 in the FCS playoff quarterfinals at Washington-Grizzly Stadium.

The Griz used the home crowd to their advantage in an all-around dominant performance in all three phases of the game in front of a home crowd of 22,750 fans. The win sets up an all-Montana semifinal in the FCS playoffs as the Griz will go to face No. 2 Montana State on Dec. 20 for a trip to the national championship.

Montana’s Keali’i Ah Yat had 305 yards and three passing scores, as Michael Wortham had 11 catches for 201 yards and two receiving touchdowns, as well as 43 rushing yards and a score.

All told, the Coyotes had 63 plays on offense for 351 total yards, but the 10 offensive penalties seemed to be a key difference in finding any consistency.

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Montana State advances with decisive victory

BOZEMAN, Mont. — Montana State ran for 227 yards as the Bobcats dominated the third-ranked rush defense in the country en route to beating Stephen F. Austin 44-28 on Friday to advance to the FCS playoff semifinals.

Adam Jones finished with 117 yards and Julius Davis had 96 on the ground for Montana State, which jumped out to a 24-0 lead. Justin Lamson had 246 passing yards for the Bobcats.

Villanova holds down Tarleton State to advance

STEPHENVILLE, Texas — Villanova overcame a 14-0 deficit as the No. 12 Wildcats beat fourth-seeded Tarleton State 26-21 on Saturday.

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It is the fourth time in program history and the first time since 2010 that ‘Nova advanced to the semifinals. The Wildcats held Tarleton State to 56 yards rushing and 266 total yards while racking up 426 overall on their own.

Ja’briel Mace had a 47-yard run to trim Tarleton State’s lead to 21-19 in the third quarter and Braden Reed hauled in an 11-yard TD pass in the fourth to complete the comeback.

Dawson runs Illinois State past UC Davis

DAVIS, Calif. — Victor Dawson carried 29 times for 148 yards and Tommy Rittenhouse threw a 93-yard TD pass as Illinois State beat UC-Davis 42-31 on Saturday, one week after the Redbirds upset North Dakota State in Fargo.

Rittenhouse finished 15 of 20 for 266 yards and three touchdowns and one interception. Daniel Sobkowicz had six receptions for 150 yards and two scores.

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Davis quarterback Caden Pinnick was 24 of 41 for 402 yards with three touchdowns and a pick.

Trey Houchin of the Mitchell Republic contributed to this report.

Our newsroom occasionally reports stories under a byline of “staff.” Often, the “staff” byline is used when rewriting basic news briefs that originate from official sources, such as a city press release about a road closure, and which require little or no reporting. At times, this byline is used when a news story includes numerous authors or when the story is formed by aggregating previously reported news from various sources. If outside sources are used, it is noted within the story.





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