Gallatin County, Montana Housing Market
In Gallatin County, Montana, the median home value is $667,600, with a median monthly rent of $1,694. This places Gallatin County at #59 nationally out of 3134 counties by median home value, and #1 within Montana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,360
- Establishments: 9,517
- BLS QCEW, 2025
Housing Supply
- Single-family: 843
- Multi-family: 701
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 55,049 (avg $143,183)
- Outflow: 50,016 (avg $142,492)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 5 active ZIP codes in Gallatin County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 59741 | 414.6 | -13.29% | 2025 |
| 2 | 59715 | 484.6 | +7.34% | 2025 |
| 3 | 59718 | 429.8 | -1.94% | 2025 |
| 4 | 59714 | 423.8 | -0.89% | 2025 |
| 5 | 59730 | 306.1 | +24.28% | 2021 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Gallatin County Compares
| Metric | Gallatin County | Montana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $667,600 | $276,876 | $227,706 |
| Median Gross Rent | $1,694 | $842 | $968 |
| Owner Occupancy Rate | 61.1% | 73.0% | 73.3% |
| Price/Rent Ratio | 32.8 | 27.2 | 18.7 |
Market Analysis
The median home value in Gallatin County is 141.1% above the Montana state average and 193.2% above the U.S. national average. The median rent of $1,694/month is 101.2% above the state average.
With a price-to-rent ratio of 32.8, Gallatin County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Gallatin County has an owner-occupancy rate of 61.1%, compared to 73.0% in Montana and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Chaffee County | Colorado | $665,700 | $1,611 |
| Broomfield County | Colorado | $664,500 | $2,126 |
| Westchester County | New York | $663,200 | $1,951 |
| Hood River County | Oregon | $660,000 | $1,417 |
| Richmond County | New York | $675,500 | $1,733 |
Other Counties in Montana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Flathead County | $535,500 | $1,142 | 72.4% |
| Ravalli County | $476,600 | $1,054 | 79.4% |
| Missoula County | $472,100 | $1,190 | 58.8% |
| Madison County | $470,100 | $1,000 | 81.0% |
| Park County | $467,500 | $976 | 69.4% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).