Roy, Montana, a small community, has experienced significant population growth and changes in its housing market dynamics from 2010 to 2022. The population increased by 52%, growing from 666 to 1,015 residents during this period. Despite this growth, homeownership rates have remained relatively stable, fluctuating between 72% and 77% from 2013 to 2022. In 2013, the homeownership rate was 73%, peaking at 77% in 2018, and settling at 75% by 2022. Concurrently, average home prices have shown a substantial increase, rising from $130,964 in 2016 to $299,679 in 2022, representing a 129% increase over six years.

The relationship between federal interest rates and homeownership rates in Roy does not show a clear correlation. Despite historically low interest rates between 2013 and 2021, ranging from 0.08% to 2.16%, the homeownership rate remained relatively stable. This suggests that local factors may have a more significant influence on homeownership trends in this small community than national interest rates. Renter percentages in Roy have fluctuated inversely to homeownership rates, ranging from 23% to 28% between 2013 and 2022. Average rent prices have shown some volatility during this period, starting at $592 in 2013, decreasing to $520 in 2016, rising to $596 in 2018, and then decreasing slightly to $538 by 2022. These fluctuations in rent prices do not show a clear correlation with the changes in renter percentages or population growth, suggesting that other local factors may be influencing the rental market.

In 2023, the average home price in Roy slightly decreased to $296,793, and in 2024, it increased to $304,142, representing a 2.5% increase from 2023 to 2024. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, reaching levels not seen since 2007. These higher interest rates could potentially impact future homeownership rates and housing market dynamics in Roy.