Big Timber, Montana, is a small city that has experienced significant changes in its housing market over the past decade. The city's population grew from 1,702 in 2013 to 2,072 in 2022, influencing various aspects of the local real estate landscape. Homeownership rates in Big Timber have shown resilience despite fluctuations, with 72% in 2013, dropping to 61% in 2019, and rebounding to 73% in 2022. This trend occurred alongside substantial increases in average home prices, which rose from $166,168 in 2013 to $391,361 in 2022, marking a 135.5% increase over this period.

The impact of federal interest rates on Big Timber's housing market has been notable. From 2013 to 2016, interest rates remained very low, between 0.1% and 0.4%, coinciding with homeownership rates fluctuating between 68% and 72%. As interest rates began to rise more significantly from 2017 onwards, reaching 1.68% in 2022, homeownership rates initially dipped but then showed resilience, climbing back to 73% in 2022. This suggests that while interest rates influence homeownership, other local factors also play a significant role in Big Timber's housing market.

The rental market in Big Timber has also experienced changes. The percentage of renters increased from 28% in 2013 to a peak of 39% in 2019, before decreasing to 27% in 2022. Average rent prices fluctuated during this period, starting at $639 in 2013, dropping to a low of $454 in 2017, and then rising to $718 in 2022. This represents a 12.4% increase in average rent from 2013 to 2022, despite the variations in between. The city's population growth may have contributed to the overall increase in rent prices despite the recent decrease in the renter population.