Butte, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Butte Neighborhoods Since 2000




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 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

Butte Housing Market Information

With a population of 33,922, 14,798 total housing units (homes and apartments), and a median house value of $139,338, 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 70.30% of the city's housing units. Other types of housing that are prevalent in Butte include large apartment complexes or high rise apartments ( 11.01%), duplexes, homes converted to apartments or other small apartment buildings ( 10.03%), and a few mobile homes or trailers ( 7.45%).

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 ( 37.13%), 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 ( 28.15%), followed by between 1940-1969 ( 25.65%). There's also some housing in Butte built between 2000 and later ( 9.07%).

Butte Home Appreciation Rates

In the last 10 years, Butte has experienced some of the highest home appreciation rates of any community in the nation. Butte real estate appreciated 15.45% over the last ten years, which is an average annual home appreciation rate of 1.45%, putting Butte in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Butte definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 8.65%, which is higher than appreciation rates in 89.48% 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 2.06%, which equates to an annual appreciation rate of 8.49%.

Importantly, this makes Butte 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 Butte's latest annual appreciation rate is higher 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:
$139,338

Butte, MT HOME PRICES

Value Range
> $1,129,000 0.8
$847,001 - $1,129,000 0.4
$564,001 - $847,000 1.1
$451,001 - $564,000 1.4
$338,001 - $451,000 4.6
$226,001 - $338,000 15.6
$113,001 - $226,000 35.9
$56,001 - $113,000 29.7
$0 - $56,000 10.5

Low for MT
Average for Nation

Value Relative to Nation Value Relative to State
55.0480487519044 72.65625

Number Of Homes And Apartments:
14,798

Butte 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
68.92% 3.09% 2 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$853 / per month

Homeownership Rate

Homeownership
Owners 62.61
Renters 37.39
Vacant 9.59

Housing Market Details

 

Age of Homes

AGE OF Butte HOMES
2000 or Newer 9.1
1970 - 1999 28.2
1940 - 1969 25.6
1939 or Older 37.1

Types of Homes

TYPE OF Butte HOMES
Single-Family 70.3
Townhomes 1.2
Small Apt. Buildings 10.0
Apt. Complexes 11.0
Mobile Homes 7.4
Other 0.0

Home Size

SIZE OF Butte HOMES
No Bedroom 4.15
1 Bedroom 13.48
2 Bedrooms 30.43
3 Bedrooms 32.63
4 Bedrooms 14.27
5 or more bedrooms 5.03