The story of this market
The typical home in ZIP 59050 sells for about $305,000, or $217 per square foot.
Prices are down 11% from a year ago, which gives buyers more room to negotiate. Homes take about 33 days to sell. HUD's fair market rent for a two-bedroom is $725 a month.
ZIP 59050 — Lodge Grass
The Laurel housing market is currently experiencing a cooling phase with a significant year-over-year decline in median sale prices. Limited inventory and a slow sales pace suggest a cautious environment for both buyers and sellers as the market adjusts to broader economic trends.
Laurel is well-suited for families and commuters seeking a more affordable, small-town lifestyle within easy reach of the larger Billings metropolitan area.
Median prices moved down 11.0% year over year.
Homes spend a median of 33 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 96.8% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 10.2% · poverty 28.6% — elevated distress and economic pressure.
versus the prior ACS vintage
ZCTA 59050, Yellowstone County MT
Schools in the area are part of the Laurel Public Schools district, which serves the local community.
The area is subject to standard regional climate risks for Montana, including wildfire potential and seasonal weather extremes.
Laurel serves as a residential and industrial hub near Billings, with economic activity tied to regional energy and transportation sectors.
Property taxes are assessed at the county level in Yellowstone County based on state-mandated appraisal cycles.
Laurel is located approximately 15-20 minutes west of Billings, providing a straightforward commute via I-90 for residents working in the regional employment core.
The city features local parks and proximity to the Yellowstone River, offering outdoor recreation opportunities like fishing and hiking within a short distance.
The rental market is limited with low inventory, reflecting a tight supply environment for prospective tenants.
The local economy is anchored by industrial and transportation sectors, benefiting from its strategic location near the Billings metro area.
The city is served by I-90, which acts as the primary corridor for regional transit and commuting to Billings.
Development is focused on maintaining residential capacity while supporting the city's industrial base.
Yellowstone County utilizes a centralized appraisal system to determine property values for tax purposes.
Parcels are subject to local school district levies and county-wide service assessments.
Property insurance premiums in the region are influenced by wildfire risk and severe weather exposure common to the Northern Rockies.
foreclosure_note
Montana is a non-judicial foreclosure state.
Montana requires sellers to provide a property disclosure statement regarding the condition of the home.
Data retrieved from Census Reporter and World Population Review.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides local access for fishing and outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.