Red Lodge Montana Market Dynamics
Documenting the development and discussing the growth of Red Lodge, Montana
Red Lodge is a hotbed for recreation, retirement, and tourism nestled on the East end of the Beartooth mountain range located 1.5 hours Southwest of Billings (pop. 119,960) and an hour North of Cody, Wy (pop. 10,224). This article goes over population, history, real estate, recreation, weather, niche scores, and developments of Red Lodge, MT
Population
According to the 2020 census the population of Red Lodge was 2,257 people. There were 2,125 people on the 2010 census and over 4,860 people on the 1910 census. Red Lodges population has changed significantly over time due to the boom and bust of the local coal and gold mining industry.
Going gets tough
On February 27th, 1943, an explosion occurred nearly 7,000 feet below the Earth's surface. The explosion was caused by a build up of methane gas, but what caused it to detonate is unknown. At the time, it was commonplace for miners to smoke while working. 77 miners were working that morning, but only 3 survived the day's events. This was the worst mining accident in Montana’s mining history. On June 14, 2022 Rock Creek flooded out a good portion of the town of Red Lodge.
Real Estate
Here is a snapshot of Red Lodges real estate market as of June 30 2024. The typical home value is $511,592 with a one year change being +6.9%. There are currently 53 homes for sale and 19 new listings since June 30. The median list price is $615,333.
Recreation
There is no shortage of recreation in Red Lodge being only 15 minutes from the base of Red Lodge Mountain Ski Area, 30 minutes from the boarder of Wyoming, 40 minutes from the summit of Beartooth Basin Ski Area, and 2 hours from the East entrance of Yellowstone.
Weather
Red Lodge, Montana gets 18 inches of rain, on average, per year. The US average is 38 inches of rain per year.
Red Lodge averages 129 inches of snow per year. The US average is 28 inches of snow per year.
On average, there are 202 sunny days per year in Red Lodge. The US average is 205 sunny days. - Best Places/climate
Niche
Developments
Red Lodge is expanding in the Northerly direction with a few rural residential neighborhoods Northwest of town with higher density R-3 subdivisions to North of the airport.
A collection of Carbon County development resources:
Carbon County Development Process Guide
Online Development Permit Package
2016 Static Zoning Map from the City of Red Lodge
The following section of the blog includes 5 galleries themed around 1. Development 2. New Builds 3. Timber Frame and 4. Flooding aftermath and 5. Unique Character of the area
Development
New Builds
Timber frame monitor barn jobsite tour
Contracted by Galloping Swede of Billings MT
2 years after the June 2022 flood
Character
In summary, Red Lodge seems to be a great place to live if you are either retired or work remotely. I’d also argue that the summer and winter climate is favorable compared to many other Montana towns given the cooler rainier summers and sunnier year round exposure. I’d compare Red Lodge to a Afton or Cody Wyoming. Will Red Lodge continue to boom like the rest of Montana? Probably.
Thanks for reading,
Daniel