Laurel, MT housing market
The typical Laurel home is worth about $378,000, up 1.2% in a year, 20% below the Montana typical home. Homes typically sell in 54 days.
Home values, sales, trends and how Laurel compares with the towns next door — updated as new data is published.
Laurel at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Laurel | Montana |
|---|---|---|
| 2017 | $220,000 | $233,000 |
| 2018 | $231,000 | $248,000 |
| 2019 | $240,000 | $262,000 |
| 2020 | $256,000 | $277,000 |
| 2021 | $275,000 | $318,000 |
| 2022 | $324,000 | $406,000 |
| 2023 | $346,000 | $434,000 |
| 2024 | $371,000 | $447,000 |
| 2025 | $376,000 | $464,000 |
| 2026 | $376,000 | $468,000 |
| August 2026 | $378,000 | $472,000 |
5 new homes permitted in 2025
Builders were permitted 5 new homes in Laurel in 2025, all single-family houses, worth about $1.5 million to build. That's 0.7 per 1,000 residents, slower than across Montana (7.3). Over the past 10 years, Laurel has permitted 117 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Laurel gained 504 residents while 139 new homes were permitted: about 3.6 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Montana: 2.4 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 7 | 7 | 0 | $1.2 million |
| 2025 | 5 | 5 | 0 | $1.5 million |
| 2024 | 20 | 20 | 0 | $2.3 million |
| 2023 | 18 | 18 | 0 | $2.1 million |
| 2022 | 24 | 24 | 0 | $2.7 million |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 5 | 5 | 0 | $1.1 million |
| 2019 | 11 | 9 | 2 | $1.9 million |
| 2018 | 13 | 9 | 4 | $2.2 million |
| 2017 | 12 | 8 | 4 | $2 million |
| 2016 | 9 | 7 | 2 | $1.6 million |
| 2015 | 19 | 11 | 8 | $3.4 million |
| 2014 | 3 | 1 | 2 | $507,000 |
| 2013 | 25 | 3 | 22 | $3.1 million |
| 2012 | 25 | 10 | 15 | $3.7 million |
| 2011 | 7 | 7 | 0 | $1.1 million |
| 2010 | 15 | 7 | 8 | $2 million |
| 2009 | 8 | 8 | 0 | $1.3 million |
| 2008 | 22 | 14 | 8 | $3.4 million |
| 2007 | 27 | 15 | 12 | $4 million |
| 2006 | 34 | 32 | 2 | $4.9 million |
| 2005 | 31 | 25 | 6 | $3.6 million |
| 2004 | 7 | 7 | 0 | $582,000 |
| 2003 | 14 | 3 | 11 | $897,000 |
| 2002 | 12 | 8 | 4 | $1.1 million |
| 2001 | 6 | 4 | 2 | $558,000 |
| 2000 | 16 | 4 | 12 | $1.5 million |
How Laurel ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
5.5 years of income
The typical Laurel home costs about 5.5 years of the town's median household income, less than across Montana (6.5 years).
How Laurel ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,360
HUD's Fair Market Rent for a two-bedroom in Laurel is $1,360 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Laurel pay a median of $974, so moving in tends to cost more than staying put. A two-bedroom takes about 24% of the town's median household income.
Studio $970 · 4 bedrooms $2,130
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (59044; Billings, MT HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.