Manhattan, Montana, a small town in Gallatin County, is known for its scenic location near the Gallatin River. Over the past decade, the town has experienced significant changes in its housing market. From 2013 to 2022, homeownership rates in Manhattan slightly decreased from 72% to 71%. During this same period, average home prices saw a dramatic increase of 151%, rising from $260,331 in 2013 to $653,287 in 2022. This inverse relationship between homeownership rates and average home prices suggests that rising property values may have made homeownership less attainable for some residents.

Federal interest rates have influenced homeownership trends in Manhattan. Between 2013 and 2020, interest rates remained relatively low, ranging from 0.09% to 2.16%. This period coincided with fluctuations in homeownership rates, which reached a low of 64% in 2019 before rebounding to 71% in 2022. The low interest rates during this time likely contributed to the overall stability in homeownership rates despite rising home prices.

Renter percentages in Manhattan have fluctuated, increasing from 28% in 2013 to 36% in 2019, before decreasing to 29% in 2022. Average rent prices have generally increased over this period, rising from $1,158 in 2013 to $1,295 in 2022, a 12% increase. The town's population growth, from 1,582 in 2013 to 2,008 in 2022, may have contributed to the upward pressure on rent prices and the fluctuations in renter percentages.