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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 5,874, 2,681 total housing units (homes and apartments), and a median house value of $116,453, house prices in Lewistown are solidly below the national average.
Single-family detached homes are the single most common housing type in Lewistown, accounting for 74.22% of the city's housing units. Other types of housing that are prevalent in Lewistown include large apartment complexes or high rise apartments ( 12.79%), mobile homes or trailers ( 9.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.04%).
People in Lewistown primarily live in small (one, two or no bedroom) single-family detached homes. Lewistown has a mixture of owner-occupied and renter-occupied housing.
The housing in Lewistown was primarily built before 1939 ( 39.02%), making the housing stock in Lewistown some of the oldest overall in America, although there is a range of ages of homes in Lewistown. The next most important housing age is between 1940-1969 ( 31.99%), followed by between 1970-1999 ( 24.79%). There's also some housing in Lewistown built between 2000 and later ( 4.20%).
Vacant housing appears to be an issue in Lewistown. Fully 14.67% of the housing stock is classified as vacant. Left unchecked, vacant Lewistown homes and apartments can be a drag on the real estate market, holding Lewistown 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.
In the last 10 years, Lewistown has experienced some of the highest home appreciation rates of any community in the nation. Lewistown real estate appreciated 15.30% over the last ten years, which is an average annual home appreciation rate of 1.43%, putting Lewistown in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lewistown 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 Lewistown that despite a nationwide downturn in the housing market, Lewistown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lewistown appreciation rates continue to be some of the highest in America, at 6.18%, which is higher than appreciation rates in 75.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lewistown. Lewistown appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.49%.
Importantly, this makes Lewistown 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 Lewistown's latest annual appreciation rate is lower than 60% of the other cities and towns in Montana.
|$814,001 - $1,084,000||0.0|
|$542,001 - $814,000||0.2|
|$434,001 - $542,000||0.8|
|$325,001 - $434,000||2.8|
|$217,001 - $325,000||16.5|
|$109,001 - $217,000||33.6|
|$54,001 - $109,000||28.9|
|$0 - $54,000||17.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Lewistown HOMES|
|2000 or Newer||4.2|
|1970 - 1999||24.8|
|1940 - 1969||32.0|
|1939 or Older||39.0|
|TYPE OF Lewistown HOMES|
|Small Apt. Buildings||2.0|
|SIZE OF Lewistown HOMES|
|5 or more bedrooms||3.98|