Bozeman Growth by 2045 - Highlights from 2018 Demographic and Real Estate Market Assessment City of Bozeman

Posted by Marisa Owen on Monday, January 7th, 2019 at 12:14pm.

Every 5 to 6 years, the U.S. Census Bureau provides data on our city, county, jobs, real estate data. Here are some data points from a City of Bozeman report on Demographic and Real Estate Market Assessment published in 2018. Check out the highlights below! 

 

City of Bozeman Population 
45,250

Population Growth projection for the Gallatin County by 2045 is 159,000 people
2017 - Current Population in Gallatin County is 105,000 people

In the next 28 years, Gallatin County is projected to grow at 2,000+ people per year until 2045.

Out of this growth, about half of the growth is likely to occur in the City of Bozeman. 

Land Demand Projections 
For residential, single family dwellings the density standard will be 3.0 units per every 1 acre. This is an average of 7,100 square foot per lot. 

"The presence of of Montana State University directly impacts the general demographics of Bozeman." 

In 2016 from Census data, the owner household income in Bozeman was $68,282 vs. $33,887 for a renter household. In Bozeman, renters outweighed owners, Owner household 44% vs. 56% Renter household. 

Employment
Employment has increased by a growth rate of 2.9% per year. 

The largest gains of employment were in the following industries (highest to lowest):
- Real Estate and Rental and Leasing (2,646 jobs)
- Professional Scientific and Technical Services
- Accommodation and Food Services 
- Healthcare and Social Assistance
- Retail Trade
and Construction (2,092 jobs)

There is so much more to the report and recent findings, that I highly recommend taking a few minutes to do a quick read. The 2019 Economic Seminar will be hosted in Bozeman next month, February 2019, and will be sharing some tid bits from the seminar in an upcoming blog post.

For a full copy of this report, click this link.

If you have any real estate questions, please contact me at Marisa@BuyBozemanHomes.com or call/text at (925) 785-2596. 
Website: Marisa.BuyBozemanHomes.com

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