Strengthen your Investment Strategy in Montana

Now's a great time to consider investing in real estate in Montana. There're plenty of opportunities in new construction, flipping distressed or outdated properties, and long term/short term rentals.

Montana's economy is largely based on agriculture, forestry, and mining. However, the state also has a growing number of high-tech industries, particularly in the area of software development. The largest employers in Montana include the state government, the University of Montana, and St. John's Health System. However, many Montanans are self-employed or work for small businesses. The state's largest businesses include Plum Creek Timber Company, Weyerhaeuser Company, and BNSF Railway. Montana is also home to a number of national and international companies, such as ExxonMobil, Walmart, and FedEx. Look for the home offices locations of these top companies when researching the real estate investment opportunities in Montana.

With a median price this year of $230,600 and roughly 9,102 homes available in Montana, there is still room for profit even with higher interest rates. In the rental space, there are great opportunities with more than 267 units available with an average rent of $1,099 per month. If new construction is your area of expertise, there are 2,430 vacant lots available for purchase and building.

The economy is primarily based on agriculture, ranching, and tourism. Other significant economic resources include oil, coal, hard rock mining, and lumber. Montana's personal per capita income is $29,520, ranking 44th in the nation. The state has attracted numerous artists and writers over the years, leading to the development of a strong arts community. Tourism is an important sector of the economy in Montana, with over 10 million visitors each year to Glacier National Park, Flathead Lake, Yellowstone National Park, the Beartooth Highway, and Big Sky Resort. Tourism contributed an estimated $3.8 billion to the state's economy in 2011. Montana is ranked as the 9th safest state in which to live. There are a number of things to do in Montana. Visitors can enjoy hiking, camping, fishing, and horseback riding in the many state and national parks. Other activities include skiing, whitewater rafting, and bird watching. When deciding on real estate investment, a good place to start in Montana is areas that are heavy in tourism combined with one large corporate presecense. This will allow for multiple opportunities including rental income or fix and flip.

Knowing the demographic breakdown of the state's population is important for understanding the pool of potential buyers. 11.4% of the population is 25 to 34 years-old, 15.7% of the population is 35 to 44 years-old, and 37.8% is over 44 years-old.

Apply now to take a step forward with an investment in Montana's real estate market.