Bozeman, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Bozeman Neighborhoods Since 2000




Bozeman, 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

Bozeman Housing Market Information

With 43,405 people, 16,573 houses or apartments, and a median cost of homes of $370,840, Bozeman house prices are not only among the most expensive in Montana, Bozeman real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Bozeman, accounting for 40.14% of the city's housing units. Other types of housing that are prevalent in Bozeman include duplexes, homes converted to apartments or other small apartment buildings ( 24.83%), large apartment complexes or high rise apartments ( 21.23%), and a few row houses and other attached homes ( 10.55%).

The most prevalent building size and type in Bozeman are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.49% owning and 59.51% renting.

There is a lot of housing in Bozeman 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 Bozeman built between 2000 and later ( 35.63%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.56%). There's also some housing in Bozeman built before 1939 ( 9.64%).

Bozeman Home Appreciation Rates

Appreciation rates for homes in Bozeman have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.93%, which ranks in the top 30% nationwide. This equates to an annual average Bozeman house appreciation rate of 0.95%.

Appreciation rates are so strong in Bozeman that despite a nationwide downturn in the housing market, Bozeman real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bozeman appreciation rates continue to be some of the highest in America, at 9.18%, which is higher than appreciation rates in 91.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bozeman. Bozeman appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.49%.

Importantly, this makes Bozeman 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 Bozeman's latest annual appreciation rate is higher than 90% of the other cities and towns in Montana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Bozeman differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bozeman - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bozeman real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$370,840

Bozeman, MT HOME PRICES

Value Range
> $1,292,000 1.3
$969,001 - $1,292,000 1.1
$646,001 - $969,000 5.6
$517,001 - $646,000 6.5
$388,001 - $517,000 15.3
$258,001 - $388,000 39.3
$129,001 - $258,000 19.6
$65,001 - $129,000 3.1
$0 - $65,000 8.2

Very High for MT
Very High for Nation

Value Relative to Nation Value Relative to State
10.8402671979374 3.90625

Number Of Homes And Apartments:
16,573

Bozeman 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
93.86% 3.91% 6 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,163 / per month

Homeownership Rate

Homeownership
Owners 40.49
Renters 59.51
Vacant 9.40

Housing Market Details

 

Age of Homes

AGE OF Bozeman HOMES
2000 or Newer 35.6
1970 - 1999 38.2
1940 - 1969 16.6
1939 or Older 9.6

Types of Homes

TYPE OF Bozeman HOMES
Single-Family 40.1
Townhomes 10.6
Small Apt. Buildings 24.8
Apt. Complexes 21.2
Mobile Homes 3.3
Other 0.0

Home Size

SIZE OF Bozeman HOMES
No Bedroom 1.83
1 Bedroom 10.59
2 Bedrooms 32.88
3 Bedrooms 38.85
4 Bedrooms 11.78
5 or more bedrooms 4.08