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 1,981 people, 770 houses or apartments, and a median cost of homes of $221,898, Ronan real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Ronan, accounting for 64.80% of the city's housing units. Other types of housing that are prevalent in Ronan include large apartment complexes or high rise apartments ( 11.54%), duplexes, homes converted to apartments or other small apartment buildings ( 11.54%), and a few mobile homes or trailers ( 9.67%).
People in Ronan primarily live in small (one, two or no bedroom) single-family detached homes. Ronan has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Ronan 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 Ronan built between 1940-1969 ( 30.54%). A lesser amount of the housing stock also hails from before 1939 ( 16.67%). There's also some housing in Ronan built between 2000 and later ( 12.35%).
Vacant housing appears to be an issue in Ronan. Fully 10.26% of the housing stock is classified as vacant. Left unchecked, vacant Ronan homes and apartments can be a drag on the real estate market, holding Ronan 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.
Real estate appreciation rates in Ronan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.70% during the period.
Appreciation rates are so strong in Ronan that despite a nationwide downturn in the housing market, Ronan real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ronan appreciation rates continue to be some of the highest in America, at 7.72%, which is higher than appreciation rates in 85.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ronan. Ronan appreciation rates in the latest quarter were at 2.06%, which equates to an annual appreciation rate of 8.49%.
Importantly, this makes Ronan 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 Ronan's latest annual appreciation rate is higher than 60% of the other cities and towns in Montana.
|$829,001 - $1,105,000||1.5|
|$552,001 - $829,000||3.3|
|$442,001 - $552,000||4.9|
|$332,001 - $442,000||10.9|
|$221,001 - $332,000||18.9|
|$111,001 - $221,000||34.8|
|$55,001 - $111,000||13.4|
|$0 - $55,000||9.9|
|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 Ronan HOMES|
|2000 or Newer||12.4|
|1970 - 1999||40.4|
|1940 - 1969||30.5|
|1939 or Older||16.7|
|TYPE OF Ronan HOMES|
|Small Apt. Buildings||11.5|
|SIZE OF Ronan HOMES|
|5 or more bedrooms||2.45|