Market Overview
Home Prices in Red Lodge, MT
The median home value in Red Lodge, MT is $539,032 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and up 3.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Red Lodge are priced31% above average. Red Lodge is part of the Billings, MT metro area.
Over the past five years, Red Lodge home values have risen by approximately44.2%, reflecting strong long-term appreciation in this market.
Price History
Red Lodge Home Price Trend
City Comparison
Red Lodge vs. National Median
At $539,032, homes in Red Lodge cost 31% above the national median of $410,000. Buyers in Red Lodge should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Red Lodge?
20% Down Payment
$107,806
on $539,032
Monthly P&I
$2,811/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,570/mo
incl. taxes & insurance
Income Needed
$142,800
gross annual (30% rule)
10% Down Option
$53,903
+ PMI applies
Loan Amount (20% dn)
$431,226
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Red Lodge, MT?
The median home value in Red Lodge is $539,032 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Red Lodge?
Over the past year, home values in Red Lodge have increased by 3.9%. Over five years, prices have risen approximately 44.2%.
How much do I need to earn to buy a home in Red Lodge?
To comfortably afford the median home price of $539,032 with a 20% down payment ($107,806) at today's rates (6.8%), you'd need a gross annual income of approximately $142,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Red Lodge compare to the national average home price?
The national median home value is approximately $410,000. At $539,032, homes in Red Lodge are 31% above the national average.
What metro area is Red Lodge part of?
Red Lodge is part of the Billings, MT metropolitan area. Home prices and market conditions can vary across the broader metro region.