Butte, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Butte, 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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Butte Housing Market Information

With a population of 33,901, 14,909 total housing units (homes and apartments), and a median house value of $144,231, house prices in Butte are solidly below the national average.

Single-family detached homes are the single most common housing type in Butte, accounting for 69.41% of the city's housing units. Other types of housing that are prevalent in Butte include large apartment complexes or high rise apartments ( 12.16%), duplexes, homes converted to apartments or other small apartment buildings ( 9.10%), and a few mobile homes or trailers ( 8.06%).

People in Butte primarily live in small (one, two or no bedroom) single-family detached homes. Butte has a mixture of owner-occupied and renter-occupied housing.

The housing in Butte was primarily built before 1939 ( 37.18%), making the housing stock in Butte some of the oldest overall in America, although there is a range of ages of homes in Butte. The next most important housing age is between 1970-1999 ( 26.89%), followed by between 1940-1969 ( 25.90%). There's also some housing in Butte built between 2000 and later ( 10.03%).

Vacant housing appears to be an issue in Butte. Fully 10.60% of the housing stock is classified as vacant. Left unchecked, vacant Butte homes and apartments can be a drag on the real estate market, holding Butte real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Butte Home Appreciation Rates

Appreciation rates for homes in Butte have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 18.84%, which ranks in the top 40% nationwide. This equates to an annual average Butte house appreciation rate of 1.74%.

Appreciation rates are so strong in Butte that despite a nationwide downturn in the housing market, Butte real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Butte appreciation rates continue to be some of the highest in America, at 7.56%, which is higher than appreciation rates in 79.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Butte. Butte appreciation rates in the latest quarter were at 1.21%, which equates to an annual appreciation rate of 4.93%.

Relative to Montana, our data show that Butte's latest annual appreciation rate is lower than 50% 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 Butte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Butte - 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 Butte real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$144,231

Butte, MT HOME PRICES

Value Range
> $1,227,000 0.3
$920,001 - $1,227,000 0.3
$614,001 - $920,000 0.9
$491,001 - $614,000 1.9
$368,001 - $491,000 5.6
$246,001 - $368,000 17.8
$123,001 - $246,000 36.6
$61,001 - $123,000 26.3
$0 - $61,000 10.3

Low for MT
Average for Nation

Value Relative to Nation Value Relative to State
59.392700729927 76.5625

Number Of Homes And Apartments:
14,909

Butte Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
91.89% 3.44%
2
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$787 / per month

Homeownership Rate

Homeownership
Owners 64.18
Renters 35.82
Vacant 10.60

Housing Market Details

 

Age of Homes

AGE OF Butte HOMES
2000 or Newer 10.0
1970 - 1999 26.9
1940 - 1969 25.9
1939 or Older 37.2

Types of Homes

TYPE OF Butte HOMES
Single-Family 69.4
Townhomes 1.3
Small Apt. Buildings 9.1
Apt. Complexes 12.2
Mobile Homes 8.1
Other 0.0

Home Size

SIZE OF Butte HOMES
No Bedroom 5.62
1 Bedroom 13.21
2 Bedrooms 31.03
3 Bedrooms 30.89
4 Bedrooms 13.37
5 or more bedrooms 5.89