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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Belgrade, MT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Belgrade, MT Housing Market Trends

With 11,966 people, 4,402 houses or apartments, and a median cost of homes of $599,947, Belgrade house prices are not only among the most expensive in Montana, Belgrade real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Belgrade, accounting for 62.83% of the city's housing units. Other types of housing that are prevalent in Belgrade include duplexes, homes converted to apartments or other small apartment buildings ( 15.89%), large apartment complexes or high rise apartments ( 8.19%), and a few row houses and other attached homes ( 7.04%).

The most prevalent building size and type in Belgrade are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.79% owning and 43.21% renting.

There is a lot of housing in Belgrade built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Belgrade built between 2000 and later ( 44.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.72%). There's also some housing in Belgrade built before 1939 ( 2.08%).

Belgrade Home Appreciation Rates

In the last 10 years, Belgrade has experienced some of the highest home appreciation rates of any community in the nation. Belgrade real estate appreciated 184.71% over the last ten years, which is an average annual home appreciation rate of 11.03%, putting Belgrade in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Belgrade definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Belgrade appreciation rates have trailed the rest of the nation. In the last twelve months, Belgrade's appreciation rate has been 4.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belgrade were at -1.72%, which equates to an annual appreciation rate of -6.72%.

Notably, Belgrade's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Montana, our data show that Belgrade's latest annual appreciation rate is lower than 50% of the other cities and towns in Montana.

Average Home Values

Median Home Value

$599,947

Belgrade, MT Home Prices
> $1,488,000
$1,116,001 - $1,488,000
$744,001 - $1,116,000
$595,001 - $744,000
$446,001 - $595,000
$298,001 - $446,000
$149,001 - $298,000
$74,001 - $149,000
$0 - $74,000
3.8%
3.8%
1.6%
1.6%
19.9%
19.9%
19.1%
19.1%
23.6%
23.6%
22.2%
22.2%
7.2%
7.2%
1.1%
1.1%
1.5%
1.5%
0% 100.0%
% of Homes
Very High

for Montana

Very High

for nation

Number of Homes And Apartments:

4,402

Belgrade Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,679 / per month

Homeownership Rate

Owners
Renters
56.8%
56.8%
43.2%
43.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.6%
4.6%
95.4%
95.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
44.0%
44.0%
47.2%
47.2%
6.7%
6.7%
2.1%
2.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.8%
62.8%
7.0%
7.0%
15.9%
15.9%
8.2%
8.2%
4.4%
4.4%
1.6%
1.6%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
10.2%
10.2%
19.4%
19.4%
46.3%
46.3%
18.1%
18.1%
3.6%
3.6%
0% 100.0%
% of Homes

Popular Communities Near Belgrade, MT

Zip Codes in Belgrade, MT