Gallatin County Montana Residential Rent and Rental Statistics
The median monthly gross residential rent in Gallatin County MT was $1,189 in 2019 according to the Census ACS survey.1 Average gross rent in Gallatin County was $1,215 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Gallatin County median and average rent data will be released in September of 2021.
Data is also available below for Gallatin County rental vacancy rates, Gallatin County rent as a percent of median income and the fraction of renters in Gallatin County.
Real Gross Rent in Gallatin County Montana (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Montana Median Gross Rent | $831 | +0.61% | +7.09% |
| Gallatin County MT Median Gross Rent | $1,189 | +5.69% | +22.70% |
Gallatin County MT Real Gross Rent Trends
At $1,189, real median gross rent in Gallatin County was at its highest level in 2019 since the series began in 2005. At $1,215, real average gross rent in Gallatin County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Gallatin County MT Median, Gallatin County MT Average, Montana Median, US Median
Real Gross Rent History for Gallatin County
| Date | US Median |
Montana Median |
Gallatin County MT Median |
Gallatin County MT Average |
|---|---|---|---|---|
| 2019 | $1,097 | $831 | $1,189 | $1,215 |
| 2018 | $1,077 | $826 | $1,125 | $1,141 |
| 2017 | $1,043 | $783 | $1,033 | $1,063 |
| 2016 | $1,027 | $776 | $969 | $959 |
| 2015 | $1,017 | $809 | $1,015 | $1,028 |
| 2014 | $986 | $751 | $901 | $907 |
| 2013 | $953 | $727 | $839 | $950 |
| 2012 | $940 | $724 | $910 | $898 |
| 2011 | $941 | $702 | $885 | $909 |
| 2010 | $955 | $717 | $914 | $914 |
| 2009 | $960 | $715 | $848 | $855 |
| 2007 | $927 | $680 | $933 | $918 |
| 2005 | $910 | $690 | $884 | $930 |
Gallatin County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Gallatin County Montana was 2.21% according to Census ACS data.
Rental Vacancy Rate in Gallatin County Montana
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Montana | 7.08% | -0.36% | +0.90% |
| Gallatin County MT | — | — | — |
Trends in Gallatin County MT Rental Vacancy Rate
The rental vacancy rate in Gallatin County peaked in 2014 at 7.32%. Since then it has fallen by 5.11% to 2.21%. Data records for this series originated in 2005.
Rental Vacancy Rate: Gallatin County MT, Montana, US
Historical Rental Vacancy Rate data for Gallatin County
| Date | US | Montana | Gallatin County MT |
|---|---|---|---|
| 2019 | 5.97% | 7.08% | — |
| 2018 | 6.15% | 7.44% | — |
| 2017 | 6.18% | 6.15% | — |
| 2016 | 5.89% | 6.18% | 2.21% |
| 2015 | 5.85% | 5.44% | — |
| 2014 | 6.32% | 6.13% | 7.32% |
| 2013 | 6.49% | 5.47% | 5.64% |
| 2012 | 6.77% | 6.78% | 6.22% |
| 2011 | 7.40% | 7.56% | 4.54% |
| 2010 | 8.17% | 6.76% | 6.43% |
| 2009 | 8.43% | 6.58% | 3.84% |
| 2007 | 7.87% | 4.26% | — |
| 2005 | 7.74% | 6.52% | 5.21% |
Rent as a Fraction of Income
Using median household income data for Gallatin County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Gallatin County, median monthly gross rent as a fraction of median household income was 18.92% in 2019 according to the ACS.
Gallatin County Montana Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Montana | 17.45% | -0.14% | -0.33% |
| Gallatin County MT | 18.92% | -0.51% | +0.78% |
Trends in Gallatin County MT Rent as a Fraction of Income
The fraction of median Gallatin County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.38%. Since then it has fallen by 1.46% to 18.92%.
Fraction of Income towards Rent: Gallatin County MT, Montana, US
Historical Data for Annual Rent as a Fraction of Income in Gallatin County Montana
| Date | US | Montana | Gallatin County MT |
|---|---|---|---|
| 2019 | 20.03% | 17.45% | 18.92% |
| 2018 | 20.50% | 17.59% | 19.42% |
| 2017 | 20.13% | 17.06% | 19.74% |
| 2016 | 20.43% | 17.77% | 18.13% |
| 2015 | 20.63% | 18.49% | 19.96% |
| 2014 | 20.89% | 18.42% | 20.38% |
| 2013 | 20.78% | 17.63% | 16.26% |
| 2012 | 20.65% | 18.13% | 19.63% |
| 2011 | 20.70% | 17.64% | 19.54% |
| 2010 | 20.50% | 18.06% | 19.83% |
| 2009 | 20.12% | 17.78% | 19.58% |
| 2007 | 18.66% | 15.96% | 18.65% |
| 2005 | 18.89% | 16.85% | 18.45% |
Renter Fraction in Gallatin County Montana
You can calculate the renter fraction in Gallatin County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Gallatin County as a fraction of total Gallatin County households. In 2019 39.76% of households were renters according to Census ACS data.
Gallatin County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Montana | 31.12% | -1.42% | -0.87% |
| Gallatin County MT | 39.76% | +1.47% | -0.01% |
Trends in the Gallatin County MT Renter Fraction
The Gallatin County household renter fraction peaked in in 2012 at 41.54% and is now 1.78% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Gallatin County MT, Montana, US
History of Gallatin County Renter Fraction
| Date | US | Montana | Gallatin County MT |
|---|---|---|---|
| 2019 | 35.89% | 31.12% | 39.76% |
| 2018 | 36.05% | 32.54% | 38.29% |
| 2017 | 36.13% | 30.85% | 36.55% |
| 2016 | 36.88% | 31.99% | 39.77% |
| 2015 | 36.97% | 33.34% | 37.26% |
| 2014 | 36.90% | 33.61% | 40.80% |
| 2013 | 36.50% | 33.12% | 37.65% |
| 2012 | 36.09% | 32.95% | 41.54% |
| 2011 | 35.42% | 32.08% | 37.82% |
| 2010 | 34.65% | 30.32% | 37.34% |
| 2009 | 34.13% | 30.78% | 37.84% |
| 2007 | 32.80% | 30.38% | 35.63% |
| 2005 | 33.10% | 30.90% | 38.08% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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