Real Estate Investing in Custer, Montana (59024)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59024 (Custer, MT)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 26.8% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.1 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Custer, MT (59024)?
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Market Analysis: 59024 Custer
Investors eyeing 59024 need to respect the fundamentals at play. Home values of $387K come alongside slower price movement and elevated management overhead.
Looking more closely, the numbers look inviting — $387K purchase price, 0.0% nominal cap — the work to hit that pro forma in 59024 is substantial and deserves full respect.
Regionally, 59024 sits on the difficult end of the MT spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 59024 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 59024 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Custer:
Market Trends
Home Value History (with trend line)
📊 How Does 59024 Compare?
| Metric | 59024 | Custer | Billings, MT | Montana |
|---|---|---|---|---|
| Home Value | $387,292 | $387,292 | N/A | $457,278 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 9.2% |
| Avg Rent | $1,287 | $1,287 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 59024 (Custer, MT). Anonymous, moderated, never written by AI.
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Property managers serving Yellowstone County
Manage rentals here? List your business →Happy Homes Property Management offers patio home apartments in Billings, MT. summary from their website
Yellowstone Property Managers Association is an association for property managers. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $387,292 |
| Monthly Rent | $1,287 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +1.1% ▲ |
| 3-Year CAGR | +3.7% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 59024
Population: 295
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 59024
Schools in This ZIP Code
About Repit School Scores
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We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Where do home prices stand in Custer, MT?
Expect median prices around $387K in Custer, MT. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
Is the tenant base reliable in Custer, MT?
Custer, MT offers a steady renter base at the $1,287/mo rent level. Tenant turnover is reasonable for well-managed properties.
Can owner-occupants cash flow in Custer, MT?
House hacking in Custer, MT is a challenging. With home values around $387K and rents at $1,287/mo, owner-occupants can offset a meaningful share of PITI.
Are rents high in Custer, MT?
Average rent in Custer, MT is approximately $1,287/mo per month. Against $387K home values that yields a reasonable rent-to-price ratio.
Are landlord laws favorable in Custer, MT?
Custer, MT falls under MT landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 59024 now. You don’t know where it ranks.
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How 59024 ranks in Billings, MT
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