Department of Numbers

Gallatin County Montana Residential Rent and Rental Statistics

The median monthly gross residential rent in Gallatin County MT was $1,002 in 2017 according to the Census ACS survey.1 Average gross rent in Gallatin County was $1,031 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Gallatin County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Gallatin County Montana (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Montana Median Gross Rent $759 +0.80% +4.26%
Gallatin County MT Median Gross Rent $1,002 +6.71% +14.78%

Gallatin County MT Real Gross Rent Trends

At $1,002, real median gross rent in Gallatin County was at its highest level in 2017 since the series began in 2005. Average gross rent for Gallatin County peaked in real terms in 2008 at $1,033 and is now $2 (0.19%) lower. From a recent low of 829.0 in 2009, real average gross rent has now increased by $202 (24.37%).

Real Gross Rent: Gallatin County MT Median, Gallatin County MT Average, Montana Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Gallatin County

Date US
Median
Montana
Median
Gallatin County MT
Median
Gallatin County MT
Average
2017 $1,012 $759 $1,002 $1,031
2016 $996 $753 $939 $930
2015 $987 $785 $985 $997
2014 $956 $728 $873 $880
2013 $924 $705 $814 $921
2012 $912 $703 $882 $871
2011 $912 $681 $858 $882
2010 $927 $696 $887 $887
2009 $931 $693 $822 $829
2008 $947 $725 $991 $1,033
2007 $899 $660 $905 $890
2006 $909 $680 $871 $927

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

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Montana 6.15% -0.03% +0.02%
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

Rental vacancy rate in Montana

Historical Rental Vacancy Rate data for Gallatin County

Date US Montana Gallatin County MT
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%
2008 7.86% 5.55% 5.17%
2007 7.87% 4.26%
2006 7.70% 6.18%

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 19.74% in 2017 according to the ACS.

Gallatin County Montana Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Montana 17.06% -0.71% -1.36%
Gallatin County MT 19.74% +1.61% -0.63%

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 0.63% to 19.74%.

Fraction of Income towards Rent: Gallatin County MT, Montana, US

Percent of median household income going towards median monthly gross rent in Gallatin County Montana

Historical Data for Annual Rent as a Fraction of Income in Gallatin County Montana

Date US Montana Gallatin County MT
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%
2008 19.00% 17.35% 19.51%
2007 18.66% 15.96% 18.65%
2006 18.90% 16.87% 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 2017 36.55% of households were renters according to Census ACS data.

Gallatin County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Montana 30.85% -1.14% -2.76%
Gallatin County MT 36.55% -3.22% -4.25%

Trends in the Gallatin County MT Renter Fraction

The Gallatin County household renter fraction peaked in in 2012 at 41.54% and is now 4.99% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Gallatin County MT, Montana, US

Fraction of renters in Gallatin County

History of Gallatin County Renter Fraction

Date US Montana Gallatin County MT
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%
2008 33.36% 31.48% 38.08%
2007 32.80% 30.38% 35.63%
2006 32.73% 30.11% 33.77%

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.