I’ve analyzed the Zillow Home Value Index data to uncover Montana’s fastest-growing real estate markets from 2016 to 2025. These 25 communities showcase extraordinary appreciation in a state that’s capturing unprecedented attention from buyers seeking mountain living and outdoor recreation.
The data reveals a fascinating pattern where small, once-overlooked towns are outperforming traditional markets. Many top performers are either near world-class recreational areas or represent affordable alternatives to premium destinations like Big Sky and Whitefish. Triple-digit growth has become the norm rather than the exception.
For investors and homeowners, these markets demonstrate Montana’s transformation from hidden gem to sought-after destination. The detailed analysis below ranks each location by percentage appreciation, with year-by-year metrics and customized financial insights for potential buyers and sellers.
25. Cardwell
- % change from 2016 to 2025: 142.59%
- Home value in 2016: $227,322
- Home value in 2017: $238,021
- Home value in 2018: $257,207
- Home value in 2019: $279,326
- Home value in 2020: $293,605
- Home value in 2021: $357,941
- Home value in 2022: $466,559
- Home value in 2023: $481,890
- Home value in 2024: $519,123
- Home value in 2025: $551,472
Your $227K investment in Cardwell has generated an impressive $324,150 in equity, delivering 142.6% returns over nine years. The dramatic acceleration after 2020 (88% in just five years) signals a fundamental market shift. This Jefferson River valley location offers strategic positioning between Bozeman and Butte with strong investment metrics that continue to attract capital.
24. Kila
- % change from 2016 to 2025: 143.38%
- Home value in 2016: $290,452
- Home value in 2017: $306,876
- Home value in 2018: $328,596
- Home value in 2019: $355,610
- Home value in 2020: $377,696
- Home value in 2021: $469,629
- Home value in 2022: $652,011
- Home value in 2023: $668,006
- Home value in 2024: $679,840
- Home value in 2025: $706,894
Kila has transformed a $290K investment into $706K, generating extraordinary $416,442 equity growth in nine years. The explosive 87% surge between 2020-2023 demonstrates the pandemic-era demand for Montana’s western regions. This Flathead Valley community offers proximity to Glacier National Park and Whitefish amenities at relatively accessible price points with proven appreciation dynamics.
23. Hot Springs
- % change from 2016 to 2025: 144.18%
- Home value in 2016: $103,632
- Home value in 2017: $116,723
- Home value in 2018: $127,719
- Home value in 2019: $131,566
- Home value in 2020: $143,057
- Home value in 2021: $165,367
- Home value in 2022: $220,768
- Home value in 2023: $227,692
- Home value in 2024: $243,049
- Home value in 2025: $253,050
Hot Springs presents a remarkable value play with 144.2% appreciation transforming $103K into $253K over nine years. The low entry point combined with significant upside represents exceptional leverage opportunity for investors. This mineral springs community northwest of Missoula demonstrates how affordable Montana markets can deliver premium percentage returns with minimal initial capital.
22. Rollins
- % change from 2016 to 2025: 144.77%
- Home value in 2016: $476,530
- Home value in 2017: $493,804
- Home value in 2018: $499,592
- Home value in 2019: $528,404
- Home value in 2020: $525,001
- Home value in 2021: $628,201
- Home value in 2022: $935,163
- Home value in 2023: $963,846
- Home value in 2024: $1,139,274
- Home value in 2025: $1,166,403
Rollins showcases Montana’s luxury market potential with 144.8% appreciation generating nearly $690K in wealth creation. The dramatic 121% surge from 2020-2024 reflects growing premium market demand for Flathead Lake property. This waterfront community demonstrates how high-end Montana real estate can deliver both lifestyle benefits and investment-grade capital appreciation at scale.
21. Reed Point
- % change from 2016 to 2025: 144.96%
- Home value in 2016: $192,685
- Home value in 2017: $199,693
- Home value in 2018: $212,718
- Home value in 2019: $228,778
- Home value in 2020: $248,697
- Home value in 2021: $299,525
- Home value in 2022: $384,549
- Home value in 2023: $392,969
- Home value in 2024: $419,501
- Home value in 2025: $472,000
Reed Point has delivered exceptional 145% appreciation, transforming $192K into $472K and creating $279K in equity. The consistent growth trajectory accelerated dramatically after 2020, surging 90% in just five years. This Yellowstone River community combines strategic positioning along I-90 with authentic Montana character, attracting buyers seeking value relative to more established markets.
20. Townsend
- % change from 2016 to 2025: 145.21%
- Home value in 2016: $171,525
- Home value in 2017: $179,475
- Home value in 2018: $197,620
- Home value in 2019: $212,828
- Home value in 2020: $233,305
- Home value in 2021: $276,030
- Home value in 2022: $357,438
- Home value in 2023: $372,341
- Home value in 2024: $401,039
- Home value in 2025: $420,592
Townsend has generated remarkable 145.2% returns, creating $249K in equity from a modest $171K investment. The property values have nearly doubled since 2019, demonstrating accelerating market momentum. This Missouri River community offers accessibility to Helena while providing canyon access, reservoir recreation, and investment dynamics that continue attracting capital from traditional and remote work buyers.
19. Ovando
- % change from 2016 to 2025: 147.00%
- Home value in 2016: $207,336
- Home value in 2017: $214,361
- Home value in 2018: $225,303
- Home value in 2019: $236,056
- Home value in 2020: $248,845
- Home value in 2021: $304,881
- Home value in 2022: $397,411
- Home value in 2023: $421,409
- Home value in 2024: $465,249
- Home value in 2025: $512,120
Ovando has delivered extraordinary 147% appreciation, turning $207K into $512K through consistent growth that accelerated dramatically after 2020. Your investment would have grown by $305K, representing substantial financial leverage. This scenic mountain valley community demonstrates Montana’s rural premium, where wilderness proximity and recreational opportunities drive outsized investment returns.
18. Columbia Falls
- % change from 2016 to 2025: 147.58%
- Home value in 2016: $240,091
- Home value in 2017: $253,584
- Home value in 2018: $274,810
- Home value in 2019: $292,506
- Home value in 2020: $313,927
- Home value in 2021: $384,097
- Home value in 2022: $528,855
- Home value in 2023: $550,385
- Home value in 2024: $572,863
- Home value in 2025: $594,423
Columbia Falls has generated impressive 147.6% returns, with $354K in equity creation from a $240K starting point. The dramatic 89% surge since 2020 reflects intensifying demand for Glacier/Whitefish proximity. This strategic gateway community offers compelling value relative to neighboring Whitefish while delivering similar appreciation dynamics and recreational access at a more accessible price point.
17. Big Sky
- % change from 2016 to 2025: 150.17%
- Home value in 2016: $734,698
- Home value in 2017: $790,228
- Home value in 2018: $946,119
- Home value in 2019: $1,025,070
- Home value in 2020: $1,097,657
- Home value in 2021: $1,262,970
- Home value in 2022: $1,731,406
- Home value in 2023: $1,746,346
- Home value in 2024: $1,750,782
- Home value in 2025: $1,838,017
Big Sky demonstrates exceptional wealth creation potential with 150.2% appreciation generating over $1.1 million in equity growth. The luxury resort market saw values spike 58% between 2020-2022 during peak pandemic-era demand. This world-class destination combines premier skiing, Yellowstone proximity, and luxury amenities with investment-grade returns that validate its position atop Montana’s prestige markets.
16. Libby
- % change from 2016 to 2025: 151.90%
- Home value in 2016: $137,887
- Home value in 2017: $138,689
- Home value in 2018: $143,692
- Home value in 2019: $155,596
- Home value in 2020: $168,551
- Home value in 2021: $210,312
- Home value in 2022: $278,307
- Home value in 2023: $298,108
- Home value in 2024: $328,507
- Home value in 2025: $347,334
Libby has delivered exceptional 151.9% appreciation, transforming a modest $137K investment into $347K over nine years. The remarkable 111% surge since 2019 demonstrates accelerating buyer interest in northwest Montana. This affordable community near the Idaho border and Kootenai National Forest offers substantial upside potential with proven price momentum and relatively low entry points.
15. Trego
- % change from 2016 to 2025: 154.78%
- Home value in 2016: $208,620
- Home value in 2017: $208,382
- Home value in 2018: $216,061
- Home value in 2019: $235,772
- Home value in 2020: $260,904
- Home value in 2021: $337,644
- Home value in 2022: $475,132
- Home value in 2023: $497,935
- Home value in 2024: $514,645
- Home value in 2025: $531,527
Trego has generated extraordinary 154.8% returns, increasing property values by $323K and demonstrating exceptional investment leverage. The dramatic 104% surge since 2020 reflects intensifying demand for northwest Montana properties. This remote community combines affordability with proximity to Whitefish and Glacier National Park, offering significant upside for investors seeking value alternatives to premium markets.
14. Whitefish
- % change from 2016 to 2025: 154.87%
- Home value in 2016: $338,233
- Home value in 2017: $362,396
- Home value in 2018: $377,351
- Home value in 2019: $397,927
- Home value in 2020: $430,016
- Home value in 2021: $536,714
- Home value in 2022: $801,020
- Home value in 2023: $844,146
- Home value in 2024: $832,623
- Home value in 2025: $862,045
Whitefish has delivered spectacular 154.9% appreciation, transforming $338K into $862K and creating $524K in wealth. The explosive 86% surge between 2020-2022 showcases intense pandemic-era demand for premium mountain communities. This world-class ski destination combines resort amenities with Glacier Park proximity, delivering both lifestyle benefits and investment-grade returns at scale.
13. Ekalaka
- % change from 2016 to 2025: 154.92%
- Home value in 2016: $56,768
- Home value in 2017: $56,085
- Home value in 2018: $60,950
- Home value in 2019: $70,074
- Home value in 2020: $70,421
- Home value in 2021: $83,858
- Home value in 2022: $96,262
- Home value in 2023: $109,409
- Home value in 2024: $123,813
- Home value in 2025: $144,712
Ekalaka represents Montana’s affordability advantage with 154.9% appreciation from an ultra-low $56K entry point. While the dollar gain ($88K) seems modest, the percentage return demonstrates exceptional leverage potential. This remote eastern Montana community showcases how frontier markets can deliver remarkable percentage growth while remaining accessible to first-time buyers and investors seeking maximum appreciation potential.
12. Plains
- % change from 2016 to 2025: 154.97%
- Home value in 2016: $161,609
- Home value in 2017: $172,074
- Home value in 2018: $185,671
- Home value in 2019: $192,599
- Home value in 2020: $210,322
- Home value in 2021: $254,952
- Home value in 2022: $352,609
- Home value in 2023: $370,919
- Home value in 2024: $383,969
- Home value in 2025: $412,054
Plains has delivered outstanding 155% appreciation, transforming $161K into $412K and creating $250K in equity. The dramatic 96% surge since 2020 reflects accelerating demand for western Montana alternatives. This accessible community in Sanders County offers exceptional value relative to other mountain markets while delivering comparable percentage returns and recreational access for investment-minded buyers.
11. Helmville
- % change from 2016 to 2025: 154.99%
- Home value in 2016: $179,655
- Home value in 2017: $182,987
- Home value in 2018: $190,212
- Home value in 2019: $200,972
- Home value in 2020: $218,398
- Home value in 2021: $265,348
- Home value in 2022: $353,616
- Home value in 2023: $376,272
- Home value in 2024: $412,716
- Home value in 2025: $458,098
Helmville has generated exceptional 155% returns, increasing property values by $278K from a modest $179K entry point. The dramatic 110% appreciation since 2020 reflects surging demand for rural Montana properties. This scenic ranching community in the Blackfoot River valley offers authentic Montana character and recreational access with investment fundamentals that continue attracting out-of-state capital.
10. Whitehall
- % change from 2016 to 2025: 155.98%
- Home value in 2016: $170,079
- Home value in 2017: $175,624
- Home value in 2018: $195,274
- Home value in 2019: $214,957
- Home value in 2020: $233,860
- Home value in 2021: $272,238
- Home value in 2022: $352,806
- Home value in 2023: $379,662
- Home value in 2024: $409,760
- Home value in 2025: $435,369
Whitehall has delivered remarkable 156% appreciation, transforming $170K into $435K and creating $265K in wealth. Property values have doubled since 2019, demonstrating extraordinary market momentum in recent years. This Jefferson County community offers strategic positioning between Bozeman and Butte at a fraction of Gallatin Valley prices while delivering comparable percentage returns for value-oriented investors.
9. Stockett
- % change from 2016 to 2025: 158.96%
- Home value in 2016: $136,707
- Home value in 2017: $143,464
- Home value in 2018: $149,333
- Home value in 2019: $160,046
- Home value in 2020: $169,234
- Home value in 2021: $198,672
- Home value in 2022: $246,322
- Home value in 2023: $266,091
- Home value in 2024: $292,975
- Home value in 2025: $354,018
Stockett has generated extraordinary 159% returns, increasing property values by $217K from an accessible $136K starting point. The remarkable 109% appreciation since 2019 demonstrates accelerating market momentum. This small community near Great Falls offers excellent value with proven price appreciation fundamentals that attract both local buyers and remote workers seeking Montana living at attainable price points.
8. Saltese
- % change from 2016 to 2025: 159.23%
- Home value in 2016: $148,133
- Home value in 2017: $149,869
- Home value in 2018: $152,158
- Home value in 2019: $166,275
- Home value in 2020: $188,261
- Home value in 2021: $229,786
- Home value in 2022: $315,369
- Home value in 2023: $324,760
- Home value in 2024: $368,595
- Home value in 2025: $383,999
Saltese has delivered exceptional 159.2% appreciation, transforming $148K into $384K with $236K in wealth creation. The dramatic 131% surge since 2019 demonstrates extraordinary market momentum in recent years. This small community near the Idaho border offers strategic positioning with access to outdoor recreation at a fraction of premium market prices.
7. Wise River
- % change from 2016 to 2025: 160.61%
- Home value in 2016: $212,210
- Home value in 2017: $217,656
- Home value in 2018: $233,092
- Home value in 2019: $252,103
- Home value in 2020: $266,023
- Home value in 2021: $321,241
- Home value in 2022: $428,147
- Home value in 2023: $441,833
- Home value in 2024: $492,106
- Home value in 2025: $553,049
Wise River has generated exceptional 160.6% returns, increasing property values by $341K from a $212K entry point. The dramatic 108% surge since 2020 reflects intensifying demand for recreational properties. This gateway to the Big Hole River offers world-class fishing access and mountain recreation, delivering both lifestyle benefits and investment-grade appreciation potential for outdoor enthusiasts.
6. Belfry
- % change from 2016 to 2025: 163.11%
- Home value in 2016: $144,016
- Home value in 2017: $166,777
- Home value in 2018: $197,420
- Home value in 2019: $209,846
- Home value in 2020: $227,593
- Home value in 2021: $266,152
- Home value in 2022: $322,813
- Home value in 2023: $334,763
- Home value in 2024: $367,905
- Home value in 2025: $378,915
Belfry has delivered extraordinary 163.1% appreciation, transforming $144K into $379K and creating $235K in wealth. The consistent growth trajectory shows remarkable resilience, maintaining momentum across all measurement periods. This small community near Red Lodge offers strategic positioning with easy access to Yellowstone and Beartooth Mountains at a fraction of resort market prices.
5. Gallatin Gateway
- % change from 2016 to 2025: 165.72%
- Home value in 2016: $395,466
- Home value in 2017: $430,033
- Home value in 2018: $503,464
- Home value in 2019: $545,077
- Home value in 2020: $582,372
- Home value in 2021: $684,100
- Home value in 2022: $873,873
- Home value in 2023: $884,273
- Home value in 2024: $978,376
- Home value in 2025: $1,050,831
Gallatin Gateway has generated exceptional 165.7% returns, increasing property values by $655K and creating substantial wealth. The strategic location between Bozeman and Big Sky commands premium pricing while still offering value relative to both markets. This high-end community delivers resort proximity and outdoor access with investment-grade appreciation, validating its position among Montana’s elite real estate corridors.
4. Walkerville
- % change from 2016 to 2025: 165.73%
- Home value in 2016: $59,215
- Home value in 2017: $60,491
- Home value in 2018: $66,482
- Home value in 2019: $66,294
- Home value in 2020: $78,200
- Home value in 2021: $95,745
- Home value in 2022: $118,774
- Home value in 2023: $137,488
- Home value in 2024: $149,176
- Home value in 2025: $157,352
Walkerville showcases Montana’s affordability advantage with 165.7% appreciation from an ultra-low $59K entry point. The modest dollar gain ($98K) is offset by exceptional percentage returns and remarkable financial leverage. This historic mining town near Butte demonstrates how frontier markets can deliver market-leading percentage growth while remaining accessible to first-time buyers and value investors.
3. Anaconda
- % change from 2016 to 2025: 167.80%
- Home value in 2016: $100,197
- Home value in 2017: $104,127
- Home value in 2018: $112,920
- Home value in 2019: $121,423
- Home value in 2020: $134,608
- Home value in 2021: $154,816
- Home value in 2022: $209,658
- Home value in 2023: $229,326
- Home value in 2024: $252,511
- Home value in 2025: $268,330
Anaconda has delivered remarkable 167.8% appreciation, transforming $100K into $268K through consistent growth and exceptional financial leverage. Property values have more than doubled since 2019, demonstrating extraordinary market momentum. This historic mining community combines affordability with proximity to recreational destinations, offering substantial upside potential at entry points that remain accessible to moderate-income buyers.
2. Roy
- % change from 2016 to 2025: 171.22%
- Home value in 2016: $119,632
- Home value in 2017: $121,434
- Home value in 2018: $123,713
- Home value in 2019: $138,830
- Home value in 2020: $132,078
- Home value in 2021: $169,034
- Home value in 2022: $247,151
- Home value in 2023: $266,924
- Home value in 2024: $279,905
- Home value in 2025: $324,471
Roy has generated extraordinary 171.2% appreciation, turning $119K into $324K and creating $205K in wealth from a modest investment. The explosive 146% growth since 2020 showcases Montana’s rural renaissance and changing buyer preferences. This remote central Montana community demonstrates how frontier markets can deliver market-leading returns as buyers prioritize affordability, space, and authentic rural character.
1. Toston
- % change from 2016 to 2025: 172.23%
- Home value in 2016: $148,378
- Home value in 2017: $158,756
- Home value in 2018: $172,134
- Home value in 2019: $183,487
- Home value in 2020: $194,559
- Home value in 2021: $235,995
- Home value in 2022: $314,547
- Home value in 2023: $320,808
- Home value in 2024: $362,479
- Home value in 2025: $403,924
Toston leads Montana with exceptional 172.2% appreciation, transforming $148K into $404K and generating $256K in wealth. The dramatic 108% surge since 2020 showcases extraordinary market momentum in recent years. This Missouri River valley community offers strategic positioning between Helena and Bozeman with authentic Montana character and proven investment fundamentals that continue attracting savvy buyers and investors.
