Butte, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Butte, MT Real Estate Data


Butte Housing Market Information

With a population of 33,922, 14,905 total housing units (homes and apartments), and a median house value of $140,153, 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 69.54% of the city's housing units. Other types of housing that are prevalent in Butte include large apartment complexes or high rise apartments ( 11.53%), duplexes, homes converted to apartments or other small apartment buildings ( 10.92%), and a few mobile homes or trailers ( 6.51%).

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 ( 38.37%), 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 ( 26.87%), followed by between 1940-1969 ( 26.70%). There's also some housing in Butte built between 2000 and later ( 8.07%).

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 17.27%, which ranks in the top 30% nationwide. This equates to an annual average Butte house appreciation rate of 1.61%.

Over the last year, Butte appreciation rates have trailed the rest of the nation. In the last twelve months, Butte's appreciation rate has been 2.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Butte were at 2.00%, which equates to an annual appreciation rate of 8.24%.

Relative to Montana, our data show that Butte's latest annual appreciation rate is lower than 80% 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:
$140,153

Butte, MT HOME PRICES

Value Range
> $1,096,000 0.7
$822,001 - $1,096,000 0.4
$548,001 - $822,000 1.0
$438,001 - $548,000 1.2
$329,001 - $438,000 4.5
$219,001 - $329,000 14.8
$109,001 - $219,000 34.3
$55,001 - $109,000 30.7
$0 - $55,000 12.4

Low for MT
Average for Nation

Value Relative to Nation Value Relative to State
55.6538033612461 73.4375

Number Of Homes And Apartments:
14,905

Rent & Ownership

 

Average Market Rent:
$834 / per month

Homeownership Rate

Homeownership
Owners 61.72
Renters 38.28
Vacant 8.86

Housing Market Details

 

Age of Homes

AGE OF Butte HOMES
2000 or Newer 8.1
1970 - 1999 26.9
1940 - 1969 26.7
1939 or Older 38.4

Types of Homes

TYPE OF Butte HOMES
Single-Family 69.5
Townhomes 1.5
Small Apt. Buildings 10.9
Apt. Complexes 11.5
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Butte HOMES
No Bedroom 4.31
1 Bedroom 14.93
2 Bedrooms 31.25
3 Bedrooms 29.80
4 Bedrooms 13.72
5 or more bedrooms 5.99

Butte Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
63.65% 2.94% 2 8
* 10 is highest