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Hot Springs, MT—59845

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$249,000
2.8% YoY Growth
Household Income
$31,500
31.0% YoY Growth
Days on Market
95
16.0% Shorter YoY
Home Price Forecast
4.2%
Median 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
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Hot Springs, MT

As of Dec '25, the median home price in Hot Springs, MT is $249,000, with a year-over-year change of 2.8%. This indicates that home prices in Hot Springs, MT are increasing. According to Zillow, the 1-year price projection is 4.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$249,0002.8%
Single Family $251,0002.4%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $147,000
    2.8%
    2 Bed
    		$225,0002.3%
    3 Bed
    		$346,0002.1%
    4 Bed
    		N/AN/A
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    2.9%
    1 Bedroom
    16.6%
    2 Bedrooms
    32.1%
    3 Bedrooms
    36.7%
    4 Bedrooms
    8.1%
    5+ Bedrooms
    3.6%

    Rental Trends — Hot Springs, MT

    Hot Springs, MT lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average RentN/AN/A
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent N/AN/A
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    4.7%
    1 Bedroom
    21.2%
    2 Bedrooms
    31.8%
    3 Bedrooms
    38.8%
    4 Bedrooms
    1.8%
    5+ Bedrooms
    1.8%

    Property Listings — Hot Springs, MT

    As of Dec '25, Realtor.com reports that the median days on market for a home in Hot Springs, MT is 82. This is a decrease of -14.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$399,0006.0%
    Listing Count
    		1473.0%
    Listings as % of Homes0.3%73.0%
    Days on Market
    		95-16.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$760
    2 BedroomN/AN/A$980
    3 BedroomN/AN/A$1,340
    4 BedroomN/AN/A$1,660

    Affordability — Hot Springs, MT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.2
    Median Home Price$249,000
    Median Household Income$31,500

    Hot Springs, MT — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Polson, MT

    59860

    Proctor, MT

    59920

    Lakeside, MT

    59922

    Marion, MT

    59925

    Somers, MT

    59932

    Frequently Asked Questions