Belgrade, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Belgrade, MT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Belgrade Housing Market Information

With 8,029 people, 2,997 houses or apartments, and a median cost of homes of $254,025, Belgrade real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Belgrade, accounting for 51.30% of the city's housing units. Other types of housing that are prevalent in Belgrade include duplexes, homes converted to apartments or other small apartment buildings ( 21.37%), large apartment complexes or high rise apartments ( 11.82%), and a few row houses and other attached homes ( 10.31%).

The most prevalent building size and type in Belgrade are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.22% owning and 40.78% renting.

There is a lot of housing in Belgrade built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Belgrade built between 2000 and later ( 28.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.49%). There's also some housing in Belgrade built before 1939 ( 4.78%).

Belgrade Home Appreciation Rates

Appreciation rates for homes in Belgrade have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.41%, which ranks in the top 50% nationwide. This equates to an annual average Belgrade house appreciation rate of 0.34%.

Appreciation rates are so strong in Belgrade that despite a nationwide downturn in the housing market, Belgrade real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Belgrade appreciation rates continue to be some of the highest in America, at 9.47%, which is higher than appreciation rates in 92.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Belgrade. Belgrade appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.49%.

Importantly, this makes Belgrade one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Montana, our data show that Belgrade's latest annual appreciation rate is higher than 90% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$254,025

Belgrade, MT HOME PRICES

Value Range
> $1,304,000 2.2
$978,001 - $1,304,000 0.1
$652,001 - $978,000 0.8
$522,001 - $652,000 0.1
$392,001 - $522,000 1.3
$261,001 - $392,000 44.0
$131,001 - $261,000 47.1
$65,001 - $131,000 3.4
$0 - $65,000 1.0

High for MT
High for Nation

Value Relative to Nation Value Relative to State
21.9207781553967 24.21875

Number Of Homes And Apartments:
2,997

Belgrade Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
84.41% 3.61% 4 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,052 / per month

Homeownership Rate

Homeownership
Owners 59.22
Renters 40.78
Vacant 9.40

Housing Market Details

 

Age of Homes

AGE OF Belgrade HOMES
2000 or Newer 28.4
1970 - 1999 57.3
1940 - 1969 9.5
1939 or Older 4.8

Types of Homes

TYPE OF Belgrade HOMES
Single-Family 51.3
Townhomes 10.3
Small Apt. Buildings 21.4
Apt. Complexes 11.8
Mobile Homes 5.2
Other 0.0

Home Size

SIZE OF Belgrade HOMES
No Bedroom 2.18
1 Bedroom 5.80
2 Bedrooms 24.91
3 Bedrooms 41.81
4 Bedrooms 20.89
5 or more bedrooms 4.41

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Zip Codes in Belgrade, MT