Español

Este sitio también está en español. Leer en español

City · 7,215 residents · Yellowstone County, Montana

Laurel , Montana

In Laurel, a typical home is worth $235,100 and typical rent is $974 a month. Compared with all of Yellowstone County, the typical home value is 33% lower, typical rent is 14% lower, and the share of households that own their home is 11 points lower.

WhatsApp

  • Typical home value

    $235,100

    33% below the county

    37% below Montana

    • Laurel
    • Yellowstone
    • Montana

  • Typical rent

    $974a month

    14% below the county

    10% below Montana

    • Laurel
    • Yellowstone
    • Montana

  • Typical household income

    $68,474a year

    11% below the county

    6% below Montana

    • Laurel
    • Yellowstone
    • Montana

  • Households that own their home

    59%

    11 points below the county

    11 points below Montana

    • Laurel
    • Yellowstone
    • Montana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$377,680
0.9% more than 12 months ago
Typical rent
$1,282 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Laurel is in Yellowstone County. The FHA loan limit ($754,400 for a one-unit home), the fair market rents and the help on this page are those of all of Yellowstone County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Laurel apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in Laurel is worth $235,100, 33% less than in Yellowstone County as a whole ($349,500).

  2. Laurel has the 2nd smallest share of rent-burdened renters of the 21 cities in Montana with more than 5,000 people (30%).

  3. Nearby, in Lewistown, the typical home value is $198,400: 16% less than in Laurel ($235,100).

  4. 59% of households in Laurel own their home, against 70% in Yellowstone County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Laurel

What homes there are in Laurel, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses are the majority in Laurel (56%), but less so than in Yellowstone County (65%).

There are more mobile homes here than in Yellowstone County: 18% of homes, against 10%.

Year built

In Laurel, half of the homes were built before 1975; in Yellowstone County, before 1982.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,724 a month

Yellowstone County: $1,846 a month

Without a mortgage

$592 a month

Yellowstone County: $635 a month

Owners with a mortgage

50%

Yellowstone County: 59%

The typical cost for an owner with a mortgage in Laurel is $1,724 a month, less than in Yellowstone County ($1,846); without one, $592.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Laurel rose 35% since 2015–2019, less than in Yellowstone County (55%).

The typical rent in Laurel stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLaurelYellowstone CountyMontanaUnited States
Rental vacancy Unreliable estimate4.3%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room Unreliable estimate1.3%1.8%3.4%
People per household 2.282.372.372.53
Drive alone 65%77%71%69%
Carpool 18%9%10%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate2%5%3%
Work from home Unreliable estimate9%13%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate10 to 19 minutes10 to 19 minutes20 to 29 minutes

A household in Laurel has 2.28 people on average, about the same as in Yellowstone County (2.37).

In Laurel, 18% of workers share a car to get to work; in Yellowstone County, 9%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Laurel?

A typical home is tight for the typical income

We start with a typical home in Laurel, worth $235,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Laurel, which is $68,474 a year. For that payment to be 28% of income, a household would need to earn about $82,560 a year.

The calculator's FHA and conventional loan limits are those of all of Yellowstone County.

Your numbers

Local data
$

Starts at the typical home value in Laurel. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,229 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,926

at 7.18% · 30 years

Loan amount
$230,841
Total interest
$332,126
Paid off in
November 2056

Includes $3,970 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,598 a month

  • Tight

    $1,598 to $2,054 a month

    Your payment · 34%

  • Hard

    more than $2,054 a month

Compared with the typical household income in Laurel ($68,474 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,926
Principal & interest$1,564
Property tax$161
Home insurance$98
FHA mortgage insurance (MIP)$104

You need at least $8,229 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Laurel and Yellowstone County

Laurel is in Yellowstone County, Montana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Laurel's own numbers

Typical home value
$235,100
Typical monthly rent
$974
Typical yearly household income
$68,474
Households that own their home
59%
Effective property tax rate
0.82%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Yellowstone County

FHA limit, one-unit home
$754,400
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,432
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
1.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Yellowstone County.

Everything about Yellowstone County

Buying

Buying a home in Laurel

A typical home in Laurel is worth $235,100: 33% below the county and 37% below Montana. With the typical household income in Laurel ($68,474 a year), a typical home costs 3.4 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Laurel 3.4 years
  • Yellowstone 4.6 years
  • Montana 5.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Yellowstone County

According to FHFA’s house price index, home prices in Yellowstone County rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Yellowstone County.

Period County Montana U.S.
Last year (2025) +1.2% +2.3% +2.9%
5 years (2020–2025) +48% +62% +47%
10 years (2015–2025) +72% +105% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Laurel next to Yellowstone County, Montana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Laurel $235,100
  • Yellowstone $349,500
  • Montana $375,800
  • United States $332,700
Typical monthly rent
  • Laurel $974
  • Yellowstone $1,131
  • Montana $1,081
  • United States $1,413
Typical yearly household income
  • Laurel $68,474
  • Yellowstone $76,570
  • Montana $72,509
  • United States $80,734
See the full table
Laurel next to Yellowstone County and Montana
Measure Laurel Yellowstone County Montana U.S.
Typical home value $235,100 $349,500 $375,800 $332,700
Typical monthly rent $974 $1,131 $1,081 $1,413
Typical yearly household income $68,474 $76,570 $72,509 $80,734
Households that own their home 59% 70% 69% 65%
Typical yearly property tax $1,939 $2,832 $2,693 $3,119
Effective property tax rate 0.82% 0.81% 0.72% 0.94%
Renters with high rent for their income 30% 47% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Yellowstone County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Laurel

For a typical $235,100 home in Laurel, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Laurel's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,926a month

    Least cash to close
    Down payment
    $8,229
    Cash to close
    $15,282
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $104

  • Conventional, 5% down $1,883a month

    Down payment
    $11,755
    Cash to close
    $18,808
    Rate
    7.18%
    Mortgage insurance
    PMI · $112

  • Conventional, 20% down, no PMI $1,533a month

    Down payment
    $47,020
    Cash to close
    $54,073
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,750a month

    Down payment
    $35,265
    Cash to close
    $42,318
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Laurel and for Yellowstone County.

Property tax

Effective rate in Laurel

0.82%of the home’s value each year

$1,939 a year for the typical owner in Laurel.

  • Laurel 0.82%
  • Yellowstone 0.81%
  • Montana 0.72%

What Montana publishes Homestead reduced tax rate for your principal residence (Montana Department of Revenue)

Exemptions and deadlines in Montana

Flood risk in Yellowstone County

FEMA does not publish these numbers by city: they are for all of Yellowstone County.

Homes in the high-risk zone
1.4%
876
Of those, with NFIP insurance
17%
County Montana U.S.
Homes in the high-risk zone 1.4% 2.6% 3.5%
Of those, with NFIP insurance 17% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Laurel

Typical rent in Laurel is $974 a month: 14% below the county. In Laurel, 30% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Yellowstone County, by unit size. To pay the 2-bedroom one ($1,432 a month) without spending more than 30% of your income, you would need to earn $27.54 an hour working full time.

HUD fair market rent for all of Yellowstone County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,003 $19.29 $40,120
1 bedroom $1,132 $21.77 $45,280
2 bedrooms $1,432 $27.54 $57,280
3 bedrooms $1,983 $38.13 $79,320
4 bedrooms $2,261 $43.48 $90,440

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Laurel

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Laurel is in ZIP code 59044.

For 2 bedrooms it is $1,310: $122 less than the fair market rent for Yellowstone County ($1,432).

  • 59044 $1,310$1,810

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Laurel when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Laurel

HUD lists 2 buildings with rents for lower incomes in Laurel. These are the largest.

  • Meadowoods Apartments - Laurel 315 E Maryland Ln, Laurel 59044 32 homes, 31 low-income · 1 bd: 16 · 2 bd: 16 · In service since 2004
  • Laurel Gardens 317 S 8th Ave, Laurel 59044 30 homes, 29 low-income · For older adults (406) 628-8129

See all 32 buildings in Yellowstone County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Laurel

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Yellowstone County; none says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Laurel

No down payment, repair or rent-help program on our list is for Laurel or Yellowstone County. The ones below are statewide in Montana: they work in Laurel the same as in the rest of the state.

Which programs do I qualify for? All programs in Montana

  • Bond Advantage Down Payment Assistance

    Statewide in Montana

    Montana Board of Housing loan for up to 5% of the price (maximum $15,000) for the down payment, over 15 years with low payments and the same rate as the bond program's first mortgage; there is also a Plus version, 0% and deferred, for lower incomes. Offered by Montana Board of Housing (Montana Department of Commerce).

    RepayableDeferred

    See the program Official page

  • Mortgage Credit Certificate (MCC)

    Statewide in Montana

    Montana Board of Housing certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, up to $2,000 a year, while you live in the home; for first-time buyers, with a loan that is not from another Board program. Offered by Montana Board of Housing (Montana Department of Commerce).

    Tax credit

    See the program Official page

Housing counselors near Laurel

The HUD-approved agencies closest to the center of Laurel, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • District 7 Human Resources Development Council

    3124 1st Ave N, Billings · 15 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (406) 206-2717

  • Human Resource Development Council of District Ix, Inc.

    32 S Tracy Ave, Bozeman · 109 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (406) 585-4895

  • Montana Legal Services Association

    616 Helena Ave., Helena · 168 miles away · Spanish

    Also serves in Arabic, American Sign Language (ASL), Cambodian, Cantonese, and 19 more languages.

    • Homelessness services
    • Rental counseling
    (800) 666-6899

Every agency in Yellowstone County All counseling agencies in Montana

Help in Spanish near Laurel

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Laurel

In HUD’s record, no housing authority with an office in Yellowstone County is named for Laurel or Yellowstone County.

One other authority has an office in Yellowstone County: see the list Source: HUD

Cities

Other cities in Yellowstone County

These cities are also in Yellowstone County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Yellowstone County Housing in Montana

Nearby cities

The cities closest to Laurel, with the typical home value.

Neighboring counties

If Yellowstone County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Laurel.

All guides
A mother smiles as she carries her young daughter on her shoulders (black and white).

Questions

Housing questions about Laurel

Short answers with the numbers for Laurel and all of Yellowstone County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Laurel?

The typical home value in Laurel is $235,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Yellowstone County it is $349,500.

How much does it cost to rent in Laurel?

Typical rent in Laurel is $974 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Yellowstone County is $1,432.

What is the FHA loan limit in Laurel?

Laurel uses the FHA limit for all of Yellowstone County (2026): $754,400 for a one-unit home and $1,450,800 for a four-unit home.

How much property tax do owners pay in Laurel?

The typical homeowner in Laurel pays $1,939 a year, according to the U.S. Census Bureau. That is 0.82% of the home’s value; in Yellowstone County, the rate is 0.81%.

Where can I find free help to buy or rent in Laurel?

There is 1 HUD-approved counseling agency with an office in Yellowstone County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).