Hot Springs, MT

This town of 648 residents needs 35 more housing units over the next five years.

Housing snapshot

Population
648 (2026)
Households
279
Median household income
$24,053 (2026)
Typical home value
$263,622
Owner-occupied
51%
Five-year housing need
35 units

Comparison to other Montana municipalities

Hot Springs: $24,053 Median income (2026 estimate)
<$26K >$115K
Hot Springs: None jobs to household ratio
<0.55 >2.13
Hot Springs: No permit data
<0.1% >15.1%
On this page

How affordable is this community?

In Hot Springs, MT, the typical home price of $263,622 is below the Montana average of $296,624. At a median household income of $24,053 in Hot Springs, MT, affordability is stretched, with households needing roughly $39,625 more to comfortably afford the typical home.

This chart tracks whether housing prices are keeping pace with local incomes. The gap between what homes cost and what households can afford reveals affordability trends over time.

How has employment changed over time?

Jobs by industry sector since 2012. Switch between local jobs — counted where the jobs are located — and resident jobs, counted where the workers live. On the local view the most recent year is a nowcast: it grows the latest local LODES job mix forward using recent county employment growth from QCEW and the BLS local employment series, so the newest point tracks today's economy instead of data that is roughly two years old.

How are households changing by income?

With roughly 279 households, Hot Springs, MT is growing modestly at 1.1% per year.

Understanding how households at different income levels are growing or declining helps identify which groups face the greatest housing pressure and where new housing is most needed.

Who lives here today?

The housing stock in Hot Springs, MT is heavily oriented toward detached single-family, which makes up 72% of units. Hot Springs, MT is roughly split between owners and renters, at 51% owner-occupied.

Households may have different structure type preferences depending on characteristics such as household size, income, employment, presence of children, age of individuals, and lifestyle choices. Understanding the housing stock in corresponding terms helps assess how well existing units align with existing households' ideals.

What does the housing stock look like?

The mix of housing types and ownership patterns shapes a community's character. This chart breaks down housing units by structure type and whether they're owner-occupied or rented.

How does this place compare to similar communities?