Gallatin County Real Estate and Livability Trends
Gallatin County, Montana is seeing significant economic growth, with average taxable income per tax return more than doubling from $58,295.49 in 2013 to $130,256.15 in 2021. This economic boom is accompanied by rising median home values, which nearly doubled from $271,500 in 2015 to $526,700 in 2022, hinting at a high demand or tight housing supply. Property taxes have also surged, reflecting... Read more
Gallatin County Market Trends
Gallatin County, Montana has experienced a dramatic rise in median home values, almost doubling from $271,500 in 2015 to $526,700 in 2022. This outpaces both state and national trends, possibly indicating high demand or restricted supply, making it an enticing spot for real estate investment and development. Residential energy tax credits have seen stark fluctuations, peaking at $4,133.33 in 2018... Read more
Median Value of Occupied Housing Units in Gallatin County, Montana Over the Last 8 Years
Gallatin County, Montana has seen its median home values nearly double from $271,500 in 2015 to $526,700 in 2022. This growth outpaces the broader trends in both Montana and the United States, where the state median values increased from $193,500 to $305,700, and national values rose from $125,500 to $179,400 over the same period. This steep rise in Gallatin County could suggest a robust demand or limited housing supply, making it a potentially lucrative area for real estate investment and development. Potential homebuyers and investors might find this trend critical when considering purchasing or building in the area.
Residential Energy Tax Credit Per Tax Return in Gallatin County, MT Over the Last 9 Years
Over the last nine years, Gallatin County, Montana has seen fluctuating average residential energy tax credits per tax return, with notable variations. The average credit sharply increased from $675.95 in 2013 to a peak of $4,133.33 in 2018, possibly reflecting elevated investments in energy-efficient home improvements. However, this trend appears inconsistent, with averages dipping to around $1,434.29 in 2020. For those interested in moving to the area, investing, or building property, such fluctuations could indicate varying levels of energy efficiency initiatives and government incentives, which may impact long-term property values and utility savings.
Average Real Estate Taxes Per Tax Return in Gallatin County, MT Over the Last 10 Years
Average real estate taxes per tax return in Gallatin County, Montana have shown a generally upward trend over the past decade. Starting at approximately $3,092.75 in 2012, the taxes increased steadily, hitting about $5,864.82 by 2021. Notably, there was a significant jump in 2018 to $4,904.20, and this upward trajectory continued through 2021. This trend might be indicative of rising property values and economic growth in the area, making it an essential consideration for investors, potential homeowners, appraisers, and real estate agents operating in Gallatin County.
Percentage of Farm Returns in Gallatin County, MT Over the Last 10 Years
Over the past decade, the percentage of farm tax returns in Gallatin County, Montana, has shown a noticeable decline, dropping from approximately 1.73% in 2012 to around 1.18% in 2021. Farm tax returns are essentially annual filings by agricultural operations to report income and claim deductions, reflecting the economic health and viability of farming in the area. For potential investors, property developers, or those planning to move to or invest in Gallatin County, this downward trend might suggest a shift away from agriculture-based income or changing economic priorities in the region.
Number of Mortgages by Occupancy Type in Gallatin County, MT Over the Last 5 Years in Gallatin County
Gallatin County, Montana has seen a notable upward trend in the number of mortgages for investment properties and second residences over the last few years, while the volume of principal residence mortgages has fluctuated. The spike in investment property mortgages from 567 in 2019 to 1050 in 2021 may suggest a growing interest in the area for real estate investment. Changes in occupancy types are crucial for investors and real estate agents as they reflect the evolving demand and potential returns on different property types. For those moving to the area, understanding these trends might help gauge community dynamics and property value trajectories, while insurance agents and appraisers can better assess risk and valuation with knowledge of these patterns.
Economic Outlook
Gallatin County, Montana is experiencing substantial economic growth, as evidenced by a 124% increase in average taxable income per tax return from $58,295.49 in 2013 to $130,256.15 in 2021. The escalating state and local income taxes, up to $27,532.21 in 2021 from $6,210.88 in 2012, suggest a robust economic environment, likely attracting both upscale property developers and new businesses. Meanwhile, the total tax liability per tax return has surged from $10,338.06 in 2012 to $27,726.30 in... Read more
Average Taxable Income per Tax Return in Gallatin County, MT over the last 9 years
Gallatin County, Montana has seen a significant upward trend in average taxable income per tax return over the past nine years, starting from around $58,295.49 in 2013 and peaking at approximately $130,256.15 in 2021. This nearly 124% increase could potentially attract investors and real estate agents seeking robust economic growth. It hints at increasing affluence and economic vitality, possibly making the area more attractive for upscale property development and new businesses. For appraisers and insurance agents, this trend suggests rising property values and, consequently, higher insurance premiums.
Average State and Local Income Taxes Per Tax Return in Gallatin County, MT Over the Last 10 Years
Over the past decade, Gallatin County, Montana has seen a significant uptick in average state and local income taxes per tax return, starting at around $6,210.88 in 2012 and reaching approximately $27,532.21 by 2021. This substantial increase suggests a robust economic environment, potentially driven by higher earnings and investment returns. For investors, appraisers, and real estate agents, this trend indicates growing affluence and possibly escalating property values, although it might also imply a higher cost of living for new residents. The sharp spike, particularly from 2018 onwards, could be correlated with broader economic trends or local policy changes impacting tax structures.
Average Total Tax Liability Per Tax Return in Gallatin County, MT Over the Last 10 Years
Over the past decade, Gallatin County, Montana, has seen a significant increase in the average total tax liability per tax return. Starting at approximately $10,338.06 in 2012, the liability observed a notable growth trajectory, reaching around $27,726.30 by 2021. This suggests a burgeoning economy or rising incomes that might be appealing to prospective investors and real estate developers looking for emerging markets. The steep rise between 2019 and 2021 could be tied to regional economic shifts or increased property values, making it relevant for appraisers and insurance agents to stay current with these trends.
Cost of Living in Gallatin County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,654 | $1,633 | $1,866 | $1,812 | $1,893 |
| 1 adult 4 children | $1,654 | $1,333 | $1,445 | $1,812 | $2,052 |
| 2 adults 3 children | $1,654 | $1,334 | $1,610 | $1,812 | $1,611 |
| 1 adult 3 children | $1,654 | $1,089 | $1,189 | $1,812 | $1,755 |
| 2 adults 2 children | $1,164 | $1,092 | $1,354 | $1,570 | $1,169 |
| 1 adult 2 children | $1,164 | $816 | $933 | $1,570 | $1,251 |
| 2 adults 1 child | $1,164 | $863 | $1,098 | $785 | $984 |
| 1 adult 1 child | $1,164 | $557 | $677 | $785 | $881 |
| 2 adults | $894 | $693 | $842 | $0 | $715 |
| 1 adult | $819 | $378 | $421 | $0 | $631 |
Safety trends & Data
In Gallatin County, Montana, property crime rates have experienced some notable shifts over the past five years. Larceny-theft, the most frequent offense, saw highs of 261.00 in 2018, bottomed out at 152.00 in 2020, and leveled off near 153.00 in 2022. Burglary incidents exhibited a rising trend, surging from 7.00 in 2020 to 26.00 in 2022. Motor vehicle theft also increased steadily, climbing from 8.00 in 2018 to 20.00 in 2022. Vandalism rates, however, remained relatively steady, averaging... Read more
Property Crime Trends in Gallatin County, MT Over the Last 5 Years
Property crime in Gallatin County, Montana has shown some notable fluctuations over the last five years. Larceny-theft remains the most frequent offense, with values peaking at 261.0 in 2018 and dipping to 152.0 in 2020 before stabilizing around 153.0 in 2022. Burglary incidents also observed a slight upward trend, notably jumping from 7.0 in 2020 to 26.0 in 2022. Motor vehicle theft followed a similar pattern, with a consistent increase from 8.0 in 2018 to 20.0 in 2022. Vandalism showed some variability but stayed relatively constant, averaging around 48.4 annually. These trends could be crucial for stakeholders ranging from potential investors and real estate agents to insurance agents, as they reflect the evolving safety landscape in the region.
Demographics
Gallatin County, Montana, has a slightly higher male population compared to females, with a total adult population leaning towards well-educated individuals; a significant portion holds a bachelor's degree or higher. The age distribution suggests a young to middle-aged demographic, reinforced by a notable concentration from ages 20 to 34. The racial composition remains predominantly White, supplemented by smaller groups of various other races. These patterns could indicate a workforce-ready... Read more
Race Distribution in Gallatin County, Montana (2022)
Educational Attainment in Gallatin County, Montana (2022)
Age Distribution in Gallatin County, Montana
Citizen Population in Gallatin County, Montana (2022)
Political Trends & Data
Gallatin County, Montana, appears to be experiencing a subtle shift in its political landscape. In the 2020 U.S. Presidential Election, Democrats received about 52% of the vote compared to Republicans' 45%, with Libertarians capturing a minor 3%. While smaller parties didn't significantly weigh in, this trend hints at evolving voter preferences that may influence future political and social decisions in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Gallatin County in Montana showed a slight edge for the Democratic Party in the 2020 U.S. Presidential Election, with approximately 52 percent of votes, surpassing the Republican's 45 percent. Libertarians garnered a modest 3 percent, but other smaller parties didn't make a notable impact. This suggests a possible shift from traditionally conservative leanings and highlights the county’s evolving political dynamics.
44.66% of voters voted for the Republican party in the 2020 Presidential Election
52.19% of voters voted for the Democrat party in the 2020 Presidential Election
3.15% of voters voted for the Livertarian party in the 2020 Presidential Election
School Data
Gallatin County, Montana's student-to-teacher ratio has consistently been just below the national average of fourteen students per teacher, peaking at 13.95 in 2020 and declining to 12.84 in 2023. This relatively low ratio may appeal to families and educators seeking more personalized classroom attention, potentially boosting the area's attractiveness for homebuyers and professionals in education. For real estate agents and investors, this stable and favorable ratio might increase property... Read more
Student-to-teacher ratio in Gallatin County, Montana over the last 10 years
Over the past ten years, Gallatin County, Montana's student-to-teacher ratio has consistently hovered just below the national average of fourteen students per teacher. Notably, the ratio peaked at 13.95 in 2020 but has since seen a slight decline to 12.84 in 2023. This relatively low ratio might appeal to families and educators prioritizing more personalized attention in classrooms, potentially making the area a more attractive destination for both homebuyers and professionals in education. For real estate agents and investors, the stable and favorable student-to-teacher ratio could be a key factor in increasing the desirability and value of properties in this region.
