Hot Springs, MT—59845
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hot Springs, MT
As of Oct '25, the median home price in Hot Springs, MT is $246,000, with a year-over-year change of 3.0%. This indicates that home prices in Hot Springs, MT are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $246,000 | 3.0% |
| Single Family | $249,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $148,000 | 3.5% |
2 Bed | $224,000 | 1.8% |
3 Bed | $339,000 | 1.8% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Hot Springs, MT
Hot Springs, MT lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Hot Springs, MT
As of Oct '25, Realtor.com reports that the median days on market for a home in Hot Springs, MT is 65. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $442,000 | 22.0% |
Listing Count | 11 | 28.0% |
| Listings as % of Homes | 0.3% | 28.0% |
Days on Market | 65 | -1.0% |
Demographics — Hot Springs, MT
As of the latest ACS Survey released in 2023, Hot Springs, MT has a population of 1,230, which has decreased by -5.2% over the past 5 years. Hot Springs, MT is a moderately popular place for families, as children make up 16.9% of the population. The area has a poorly educated workforce, with 20.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,230 | -5.2% |
% Under 18 | 16.9% | -1.7% |
% Seniors | 29.9% | -2.0% |
% WFH | 21.8% | -22.4% |
% w/ College Degree | 20.5% | 28.9% |
As of the latest ACS Survey released in 2023, Hot Springs, MT is a predominantly white area, with 81.1% of the population identifying as white. The white population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Hot Springs, MT is hispanic, making up 3.7% of the population. Foreign-born residents account for 4.0% of the population in Hot Springs, MT, and this percentage has increased by 53.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.1% | 1.4% |
% Black | 0.5% | ∞% |
% Hispanic | 3.7% | 2.8% |
% Asian | 0.2% | -60.0% |
% Foreign Born | 4.0% | 53.8% |
Mortgage and Risk — Hot Springs, MT
According to HUD data as of 2023, there were 9 mortgage originations in Hot Springs, MT, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 84.0%, with 56.0% above 90% LTV (very high). This implies large mortgage risk in Hot Springs, MT. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 9 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Hot Springs, MT
Hot Springs, MT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 74.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | N/A | N/A | $980 |
| 3 Bedroom | N/A | N/A | $1,340 |
| 4 Bedroom | N/A | N/A | $1,660 |
Affordability — Hot Springs, MT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $246,000 |
| Median Household Income | $31,500 |