59412, Belt, MT

Belt, MT is located in the Treasure Valley region of Montana. The 59412 zip code has a population of about 10,000 people and is home to many small businesses and farms. The median household income in the 59412 zip code is $60,000 which is lower than the national median household income of $57,617. The unemployment rate in Belt, MT is about 3% which is lower than the national unemployment rate of 4%.

The home equity and home prices in the 59412 zip code are low compared to other areas of Montana. The average home value in Belt, MT is $128,500 which is lower than the statewide average home value of $248,100. Additionally, the 59412 zip code has a low homeownership rate of just 54%. This indicates that many homes in this area are owned by individuals or families who do not use them as their primary residence.

One reason for this low homeownership rate may be due to the high cost of living in Belt, MT. The average monthly rent for a two-bedroom apartment in Belt, MT is $1,050 which is higher than the statewide average rent of $895. Additionally, food costs are high in Belt with an average grocery bill exceeding $100 per month. These high costs may make owning a home unattainable for many residents.

Despite these challenges faced by residents of Belt when trying to purchase or maintain a home there are some positive trends worth noting. For example, since 2007 there has been an increase of over 20% in sales prices within the 59412 zip code which indicates that there are buyers interested in purchasing homes within this area. Additionally, since 2010 there has been an increase of over 30% in mortgage rates within this area indicating that lenders are willing to offer more affordable loans to borrowers here. Despite these positive trends it will likely be some time before housing prices and homeownership rates rise significantly within the 59412 zip code