Bozeman
Great Falls
Helena
Missoula
Closing Conducted by: | Escrow |
Conveyance: | Warranty Deed |
Primary Foreclosure Method: | Non-Judicial |
Process Period: | 4 - 6 months |
Notice of Sale: | Trustee |
Redemption Period: | 12 Months |
Income Tax: | 1% - 6.9% |
Corporate Tax: | 6.75% |
Sales Tax: | None |
Estate Tax: | No |
Inheritance Tax: | No |
Median Property Tax: | 0.83% |
Property Taxes by County: | http://www.tax-rates.org/montana/property-tax#Counties |
Closing Cost: | $2,491.00 |
Transfer Fee: | No Fees |
Origination Fee: | $1,796.00 |
Median Home Value: $311,024
1-Year Appreciation Rate: +6.0%
Median Home Value (1-Year Forecast): +6.8%
Median Rent Price: $1,295
Price-To-Rent Ratio: 20.01
Unemployment Rate: 5.3% (latest estimate by the Bureau Of Labor Statistics)
Population: 1,062,305 (latest estimate by the U.S. Census Bureau)
Median Household Income: $52,559 (latest estimate by the U.S. Census Bureau)
Percentage Of Vacant Homes: 14.92%
Foreclosure Rate: 1 in every 83,516 (0.1%)
Cascade (1 in every 12,771)
Silver Bow (1 in every 17,088)
Ravalli (1 in every 19,788)
Flathead (1 in every 48,154)
Tax Lien or Deed: Tax Lien State
Interest Rate:10%
Redemption Period: 2-3 Years (depending on property type)
Appreciation rates will increase: In one year, real estate in Montana has appreciated by as much as 6.0%. That said, experts within the industry are calling for more appreciation moving forward. Over the next 12 months, Montana home values may increase by 6.8% on the heels of increasing demand and low inventory levels. Plenty of people appear ready and willing to buy, but the number of available listings is nowhere near enough to satiate demand. As a result, current homeowners will increase prices to match demand.
Great Falls will see an influx of buyers: More buyers will look to escape the high prices of cities like Billings and Bozeman by shifting their attention towards secondary cities. With a median home value well below the national average, Great Falls should see more people move within its city limits. Expect the population of Great Falls to increase, along with home values and competition over available housing.
More people will leave the city The pandemic has enabled more people to work from home indefinitely, which means there's no longer a need for a large portion of the population to live within proximity to their offices. As a result, it's fair to assume more people will trade their small, expensive apartments in the city for more spacious living arrangements in the suburbs. The exodus from city living could increase prices in suburban neighborhoods, as demand is expected to inch upwards.