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Forty Mile Colony

Learn about the people, housing, costs and businesses in Forty Mile Colony, Montana

Median Home$103,500
Median Rent$660/month
Population27
Leading IndustriesWholesale Trade · Finance & Insurance17% wholesale trade
Home Value Growth⬆⬆⬆+22.0% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners71% of occupied units
NotableAffordable Market$104k median home · lower cost than 91% of the country
NotableVeteran Community9% of residents · top 22% nationally
Forty Mile Colony
MT

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Frequently Asked Questions

What are today's mortgage rates in Forty Mile Colony?

As of today, the 30-year fixed mortgage rate for Forty Mile Colony is approximately 6.948% (6.986% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Forty Mile Colony?

The median home value in Forty Mile Colony is $104k. The median monthly rent is $660. Annual property taxes average $725. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Forty Mile Colony?

Home values in Forty Mile Colony have increased 22.0% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Forty Mile Colony?

Based on a typical all-in ownership cost of $593/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $25k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Forty Mile Colony is $62k/year.

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What industries drive the economy in Forty Mile Colony?

The largest employment sectors in Forty Mile Colony are public administration (25%) and wholesale trade (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.