Montana’s Skyrocketing Home Values Mirror Trends Across The West

Buying a home in Montana can be a challenge.

I often have conversations with folks about the high cost of buying a home here in Big Sky Country. Now, we've discussed this multiple times, and while there are still places in Montana that are more reasonable, certain areas have seen a huge increase in the price of buying a home.

They say life is all about timing, and that is certainly the case with real estate.  If you moved to Montana a decade or so ago, chances are, you got a pretty good deal on a home, especially compared to today's asking price.

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So, just how much has the price of purchasing a home increased? Before we reveal the answer, let's check out the best places in Montana to call home.

How much does it cost to buy a home in Montana?

The answer to that question is simple: a lot more than it used to. According to data from Clever Real Estate, Montana has seen a 145 percent increase in home costs since 2009.

Back in 2009, the median value of a single-family home in Montana was just under $188,000. Today, the median value of a single-family home is just under $460,000. That's a price increase of over $270,000.

That's great news for those looking to sell their homes and horrible news for those of us looking to buy. What's even more frustrating is that we all know we're overpaying, and there isn't much we can do about it. If you want to live here, you're going to pay through the nose.

Oh, and it isn't just Montana that this is happening in. Montana didn't even make the Top 10 for states that have seen the biggest jump, although two of our neighbors did. Both Idaho and Utah made the Top 10.

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For those who are wondering which state is ranked at the top of the list, that would be California, with almost a 500 thousand dollar increase in homes since 2009. Maybe that's why they're moving here?