Butte, MT—59701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Butte, MT
As of Oct '25, the median home price in Butte, MT is $271,000, with a year-over-year change of 1.5%. This indicates that home prices in Butte, MT are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $271,000 | 1.5% |
| Single Family | $272,000 | 2.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $159,000 | 1.3% |
2 Bed | $222,000 | 2.8% |
3 Bed | $304,000 | 2.0% |
4 Bed | $372,000 | 1.9% |
| 5 Bed | $482,000 | 1.3% |
% of Housing Stock
Rental Trends — Butte, MT
As of July '25, Rentcast reports the average rent in Butte, MT is $1,560, with a year-over-year rent change of 9.1%. Per bedroom, the median rent as of July '25 in Butte, MT is studios: $988, 1-bedrooms: $1,130, 2-bedrooms: $1,390, 3-bedrooms: $1,750, 4-bedrooms: $2,270. The most common rental property sizes in Butte, MT are 2-bedroom and 1-bedroom, accounting for 37.6% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,560 |
| Studio Rent | $750 | $988 |
| 1 Bed Rent | $1,000 | $1,130 |
| 2 Bed Rent | $1,350 | $1,390 |
| 3 Bed Rent | $1,700 | $1,750 |
| 4 Bed Rent | $2,200 | $2,270 |
% of Rental Stock
Property Listings — Butte, MT
As of Oct '25, Realtor.com reports that the median days on market for a home in Butte, MT is 72. This is a decrease of -21.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $340,000 | 7.0% |
Listing Count | 197 | -17.0% |
| Listings as % of Homes | 0.7% | -17.0% |
Days on Market | 72 | -21.0% |
Demographics — Butte, MT
As of the latest ACS Survey released in 2023, Butte, MT has a population of 34,200, which has increased by 1.8% over the past 5 years. Butte, MT is a moderately popular place for families, as children make up 20.8% of the population. The area has a moderately educated workforce, with 27.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,200 | 1.8% |
% Under 18 | 20.8% | 3.5% |
% Seniors | 19.3% | 5.5% |
% WFH | 7.0% | 125.8% |
% w/ College Degree | 27.3% | 4.6% |
As of the latest ACS Survey released in 2023, Butte, MT is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Butte, MT is hispanic, making up 4.6% of the population. Foreign-born residents account for 1.4% of the population in Butte, MT, and this percentage has decreased by 44.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.3% | -1.2% |
% Black | 0.1% | -83.3% |
% Hispanic | 4.6% | -2.1% |
% Asian | 0.3% | -62.5% |
% Foreign Born | 1.4% | -44.0% |
Mortgage and Risk — Butte, MT
According to HUD data as of 2023, there were 544 mortgage originations in Butte, MT, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Butte, MT. Investor activity is low, as 3.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 544 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Butte, MT
Butte, MT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,082 |
Total Units Section 8 | 1,022 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 76.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,000 | $1,080 |
| 2 Bedroom | $20 | $1,350 | $1,370 |
| 3 Bedroom | $220 | $1,700 | $1,920 |
| 4 Bedroom | -$10 | $2,200 | $2,190 |
Affordability — Butte, MT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $271,000 |
| Median Household Income | $56,800 |