Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 7,193 people, 3,088 houses or apartments, and a median cost of homes of $336,906, Laurel real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Laurel, accounting for 59.35% of the city's housing units. Other types of housing that are prevalent in Laurel include large apartment complexes or high rise apartments ( 14.12%), mobile homes or trailers ( 12.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.34%).
The most prevalent building size and type in Laurel are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.79% owning and 43.21% renting.
There is a lot of housing in Laurel built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Laurel built before 1939 ( 22.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.51%). There's also some housing in Laurel built between 2000 and later ( 19.14%).
Real estate appreciation rates in Laurel's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.42% during the period.
Over the last year, Laurel appreciation rates have trailed the rest of the nation. In the last twelve months, Laurel's appreciation rate has been 3.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Laurel were at -1.43%, which equates to an annual appreciation rate of -5.62%.
Notably, Laurel's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Montana, our data show that Laurel's latest annual appreciation rate is lower than 90% of the other cities and towns in Montana.
$336,906
for Montana
for nation
3,088
$1,470 / per month