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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 36,068, 14,775 total housing units (homes and apartments), and a median house value of $278,470, Butte real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Butte, accounting for 72.38% of the city's housing units. Other types of housing that are prevalent in Butte include large apartment complexes or high rise apartments ( 11.03%), duplexes, homes converted to apartments or other small apartment buildings ( 8.67%), and a few mobile homes or trailers ( 5.50%).
Dwellings in Butte tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.40% of the homes in Butte have two or fewer bedrooms.
The housing in Butte was primarily built before 1939 ( 38.48%), making the housing stock in Butte some of the oldest overall in America, although there is a range of ages of homes in Butte. The next most important housing age is between 1970-1999 ( 26.02%), followed by between 1940-1969 ( 25.87%). There's also some housing in Butte built between 2000 and later ( 9.63%).
Vacant housing appears to be an issue in Butte. Fully 12.72% of the housing stock is classified as vacant. Left unchecked, vacant Butte homes and apartments can be a drag on the real estate market, holding Butte real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Butte have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 103.77%, which ranks in the top 30% nationwide. This equates to an annual average Butte house appreciation rate of 7.38%.
Over the last year, Butte appreciation rates have trailed the rest of the nation. In the last twelve months, Butte'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 Butte were at -1.72%, which equates to an annual appreciation rate of -6.72%.
Notably, Butte's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Montana, our data show that Butte's latest annual appreciation rate is lower than 50% of the other cities and towns in Montana.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Butte differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Butte - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Butte real estate investment or home purchase decisions.
$278,470
for Montana
for nation
14,775
$1,154 / per month