best places to Airbnb in Montana
Key Takeaways
● Montana is one of the fastest-growing states in the nation that offers an affordable real estate market and plenty of recreational options. Thanks to this, many hosts have the chance to earn a nice rental income by owning Airbnb listings.
● Get to know the advantages that real estate investors can enjoy when investing in the real estate market in the state of Montana.
● Find out the top 10 areas around Montana along with their recommended property types, average prices, and specific Airbnb data.
Introduction
Montana is one of the eight Mountain states in the US that borders North Dakota and South Dakota, Wyoming, and Idaho. The state is home to the soaring peaks of the Rocky Mountains with pristine lakes and meadows that offers breathtaking landscapes, fascinating wildlife and a rich cultural heritage.
It is also known as the “Big Sky Country” due to the unobstructed skyline that allows visitors to enjoy the sky that seems to go on forever. Montana offers plenty of iconic views and recreational activities.
Yet, there’s still an important factor that you should take into account before taking the next step in your journey – where are the most profitable locations for investment properties in Montana?
In this article, you will discover the best places to invest in Airbnb in the state of Montana. We also featured some of the reasons why investing in real estate in this city is a profitable option. Interested in learning more? Then continue reading.
Why should you consider investing in rental properties in Montana?
Investing in real estate in one of the cities of the state of Montana is an amazing idea because it offers a good return to investors. Most importantly, they can eventually achieve financial freedom. Montana has unique natural surroundings as the home of Glacier National Park and the Rocky Mountains. But aside from that, what are the advantages that this state offers to real estate investors?
Check out some of the reasons why buying an Airbnb investment property in Montana is an excellent idea:
Plenty of things to do
Montana is surrounded by two extraordinary national parks, Glacier and Yellowstone, which both have endless natural wonders between them. Thanks to this, the state is an incredible place to experience exciting adventures while discovering wilderness areas and forests.
Whether you choose to visit Montana during the summer or winter, you will always have a variety of recreational activities available. In the summer, you can choose to do rafting, hiking, and biking. On the other hand, during the winter, you can go to one of the many top-tier places to ski like the Whitefish Mountain Resort and the Big Sky resort.
Fastest-growing state
The population in Montana is steadily increasing and currently, the state occupies the 4th place in the nation by growth rate (1.2% annually). The average annual employment growth is currently at 1.3%. The top three industries that contribute a lot to the state’s economy are real estate, healthcare, social assistance, and manufacturing. In addition to this, the unemployment rate across the state is 2.4%.
Real estate market: cheap or not?
While the overall cost of living in Montana is higher than the national average, there are certain cities in the state that are quite affordable. Miles City, Anaconda, Butte, Great Falls, and Billings are some of the cheapest cities to live in Montana,
According to Zillow, the average home value in Montana is currently priced at $420K. But if we take a look at the specific cities’ markets, we can find out that their real estate prices are cheaper. For instance, in Miles City, the median housing price is $249, $229K in Anaconda, $243k in Butte, and $356K in Billings.
Is Airbnb Profitable in Montana?
Take it easy because Airbtics assures you that investing in real estate in Montana is indeed lucrative. That being said, we must point out that the level of profitability depends on other factors such as the property type and location.
According to Airbtics’ data, an Airbnb host can expect an average annual revenue of $41,358 and a median occupancy rate of 63% for operating a 3-bedroom property in the city of Billings.
Best Locations for Airbnb in Montana
There are many Airbnb host expenses to consider, but the most important part that you should deeply analyze is the property’s location.
Montana has over 454 cities and each of them is divided into a variety of neighborhoods. This means that the profitability in each neighborhood differs from one another! For example, its major city, Billings, it’s divided into 32 designated neighborhoods. Thus, taking this into account, it’s understandable if you’re struggling to choose the best place to set up your rental property in Montana.
Check out the best cities in Montana that are recommended for starting an Airbnb business:
1. Anaconda, MT
- Total Number of Airbnb Listings: 56
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $235,000
- Airbnb Annual revenue: $59,608
- Gross rental yield: 25.37%
2. Great Falls, MT
- Total Number of Airbnb Listings: 89
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $174,900
- Airbnb Annual revenue: $36,112
- Gross rental yield: 20.65%
3. Butte, MT
- Total Number of Airbnb Listings: 100
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $169,000
- Airbnb Annual revenue: $29,688
- Gross rental yield: 17.57%
4. Missoula, MT
- Total Number of Airbnb Listings: 417
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $249,900
- Airbnb Annual revenue: $43,304
- Gross rental yield: 17.33%
5. Kalispell, MT
- Total Number of Airbnb Listings: 117
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $399,000
- Airbnb Annual revenue: $61,865
- Gross rental yield: 15.51%
6. Bozeman, MT
- Total Number of Airbnb Listings: 374
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $435,000
- Airbnb Annual revenue: $65,543
- Gross rental yield: 15.07%
7. Billings, MT
- Total Number of Airbnb Listings: 224
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $219,000
- Airbnb Annual revenue: $32,901
- Gross rental yield: 15.02%
8. Livingston, MT
- Total Number of Airbnb Listings: 52
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $250,000
- Airbnb Annual revenue: $35,310
- Gross rental yield: 14.12%
9. Helena, MT
- Total Number of Airbnb Listings: 148
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $289,900
- Airbnb Annual revenue: $38,076
- Gross rental yield: 13.13%
10. Big Sky, MT
- Total Number of Airbnb Listings: 679
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $749,000
- Airbnb Annual revenue: $81,437
- Gross rental yield: 10.87%
Summary
Overall, Montana’s real estate market offers a variety of housing options, low prices, and plenty of profitable locations. This testifies that investors can obtain a good return on investment by simply setting up an Airbnb listing.
After finding out the best places in Montana to buy a rental property, go ahead and check Airbtics’ short-term rental estimator. Stand out among your competitors and increase your profitability by making use of the best analytics tools!
Explore The Most Profitable Airbnb Locations Around Montana
