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 8,796 people, 3,479 houses or apartments, and a median cost of homes of $155,893, Miles City real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Miles City, accounting for 72.67% of the city's housing units. Other types of housing that are prevalent in Miles City include large apartment complexes or high rise apartments ( 10.79%), duplexes, homes converted to apartments or other small apartment buildings ( 7.24%), and a few mobile homes or trailers ( 7.02%).
The most prevalent building size and type in Miles City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.88% owning and 35.12% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Miles City's housing was primarily built during this period, from the '40s through the '60s. A full 34.62% of the city's housing hails from this era. Other housing ages represented in Miles City include homes built between 1970-1999 ( 31.35%) and housing constructed before 1939 ( 30.43%). There's also some housing in Miles City built between 2000 and later ( 3.60%).
Vacant housing appears to be an issue in Miles City. Fully 13.09% of the housing stock is classified as vacant. Left unchecked, vacant Miles City homes and apartments can be a drag on the real estate market, holding Miles City 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, Miles City has experienced some of the highest home appreciation rates of any community in the nation. Miles City real estate appreciated 54.01% over the last ten years, which is an average annual home appreciation rate of 4.41%, putting Miles City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Miles City 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 Miles City that despite a nationwide downturn in the housing market, Miles City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miles City appreciation rates continue to be some of the highest in America, at 7.29%, which is higher than appreciation rates in 83.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Miles City. Miles City appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.49%.
Importantly, this makes Miles City 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 Miles City's latest annual appreciation rate is higher 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 Miles City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Miles City - 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 Miles City real estate investment or home purchase decisions.
|$908,001 - $1,211,000||0.7|
|$605,001 - $908,000||0.2|
|$485,001 - $605,000||0.8|
|$363,001 - $485,000||3.6|
|$242,001 - $363,000||13.0|
|$121,001 - $242,000||42.4|
|$61,001 - $121,000||24.6|
|$0 - $61,000||14.2|
|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 Miles City HOMES|
|2000 or Newer||3.6|
|1970 - 1999||31.4|
|1940 - 1969||34.6|
|1939 or Older||30.4|
|TYPE OF Miles City HOMES|
|Small Apt. Buildings||7.2|
|SIZE OF Miles City HOMES|
|5 or more bedrooms||7.17|