Forsyth, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Forsyth, MT Real Estate Data


Forsyth Housing Market Information

With a population of 1,892, 821 total housing units (homes and apartments), and a median house value of $188,193, Forsyth real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Forsyth, accounting for 73.49% of the city's housing units. Other types of housing that are prevalent in Forsyth include duplexes, homes converted to apartments or other small apartment buildings ( 11.13%), mobile homes or trailers ( 7.32%), and a few row houses and other attached homes ( 4.56%).

The most prevalent building size and type in Forsyth are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.94% owning and 35.06% renting.

There is a lot of housing in Forsyth 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 Forsyth built before 1939 ( 27.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.85%). There's also some housing in Forsyth built between 2000 and later ( 5.73%).

Vacant housing appears to be an issue in Forsyth. Fully 12.94% of the housing stock is classified as vacant. Left unchecked, vacant Forsyth homes and apartments can be a drag on the real estate market, holding Forsyth 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.

Forsyth Home Appreciation Rates

In the last 10 years, Forsyth has experienced some of the highest home appreciation rates of any community in the nation. Forsyth real estate appreciated 34.90% over the last ten years, which is an average annual home appreciation rate of 3.04%, putting Forsyth in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Forsyth definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Forsyth appreciation rates have trailed the rest of the nation. In the last twelve months, Forsyth's appreciation rate has been 3.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Forsyth were at 2.00%, which equates to an annual appreciation rate of 8.24%.

Relative to Montana, our data show that Forsyth's latest annual appreciation rate is higher than 60% of the other cities and towns in Montana.

Average Home Values

 

Median Home Value:
$188,193

Forsyth, MT HOME PRICES

Value Range
> $1,244,000 1.9
$933,001 - $1,244,000 0.4
$622,001 - $933,000 0.1
$497,001 - $622,000 5.6
$373,001 - $497,000 5.4
$249,001 - $373,000 15.9
$124,001 - $249,000 44.4
$63,001 - $124,000 20.1
$0 - $63,000 6.0

Average for MT
High for Nation

Value Relative to Nation Value Relative to State
36.4115476957311 49.21875

Number Of Homes And Apartments:
821

Rent & Ownership

 

Average Market Rent:
$748 / per month

Homeownership Rate

Homeownership
Owners 64.94
Renters 35.06
Vacant 12.94

Housing Market Details

 

Age of Homes

AGE OF Forsyth HOMES
2000 or Newer 5.7
1970 - 1999 44.6
1940 - 1969 21.8
1939 or Older 27.8

Types of Homes

TYPE OF Forsyth HOMES
Single-Family 73.5
Townhomes 4.6
Small Apt. Buildings 11.1
Apt. Complexes 3.5
Mobile Homes 7.3
Other 0.0

Home Size

SIZE OF Forsyth HOMES
No Bedroom 3.08
1 Bedroom 15.91
2 Bedrooms 25.03
3 Bedrooms 32.34
4 Bedrooms 16.97
5 or more bedrooms 6.68

Forsyth 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
131.67% 5.07% 9 10
* 10 is highest

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Zip Codes in Forsyth, MT