RV Park Cap Rates in Montana
Real capitalization rate data from 20 parks across Montana. Understand what the market is actually returning before you write a check.
What This Means for Investors
Montana is running hot. An average cap rate of 18.0% is well above the national norm, which signals either underpriced assets, rural markets with strong cash flow, or operators who haven't professionalized revenue. For buyers, that spread is opportunity — find the bottom-quartile operators and you're buying cash flow, not just real estate.
The wide range (8.3%–24.7%) tells the other side of the story: there are parks in this state priced like trophy assets and parks priced like distressed debt. Know which bucket you're bidding on. The highest cap rates typically reflect either management upside or location risk — underwrite both.
With data spread across 13 cities, Montana offers enough geographic diversity to be selective. The city breakdown below shows where the cap rate compression is worst and where pockets of yield still exist.
At an average estimated value of $1,464,807, most Montana parks are in reach for individual investors or small syndicates — this isn't a market dominated exclusively by institutional buyers.
Cap Rates by City — Montana
| City | Avg Cap Rate | Parks | Avg Valuation |
|---|---|---|---|
| Helena | 18.3% | 4 | $2,257,525 |
| Billings | 19.2% | 3 | $1,233,714 |
| Malta | 20.2% | 2 | $441,174 |
| West Yellowstone | 19.9% | 2 | $3,675,490 |
| Havre | 24.7% | 1 | $759,208 |
| Missoula | 16.9% | 1 | $1,816,504 |
| Glendive | 16.5% | 1 | $664,308 |
| Great Falls | 16.5% | 1 | $3,250,363 |
| Jordan | 16.5% | 1 | $237,252 |
| Terry | 16.5% | 1 | $332,153 |
| Columbus | 15.9% | 1 | $956,117 |
| Ekalaka | 15.3% | 1 | $173,324 |
| Miles City | 10.2% | 1 | $142,352 |
Top 10 Highest Cap Rate Parks
Highest estimated returns — investigate occupancy, management quality, and NOI sustainability before buying on cap rate alone.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Havre RV Park | Havre | 24.7% | 32 | $759,207 |
| Broken Spoke Mobile Home Park | Billings | 24.7% | 30 | $711,757 |
| Rivergrove Estates LLC & RV Park | Billings | 24.7% | 51 | $1,209,988 |
| Helena RV and Mobile Home Park | Helena | 24.7% | 12 | $284,703 |
| McHugh Mobile Home Park | Helena | 24.7% | 354 | $8,398,747 |
| Edgewater Inn & Campground | Malta | 23.9% | 20 | $455,292 |
| Buffalo Crossing RV Park | West Yellowstone | 22.1% | 25 | $1,040,452 |
| Yellowstone Grizzly RV Park | West Yellowstone | 17.7% | 240 | $6,310,528 |
| Jim & Mary's RV Park | Missoula | 16.9% | 74 | $1,816,503 |
| Riverside Motel & RV Park | Malta | 16.5% | 18 | $427,054 |
10 Lowest Cap Rate Parks
Lower cap rates reflect higher prices relative to income — often found in premium markets, coastal areas, or parks with strong amenities and stable occupancy.
| Park Name | City | Cap Rate | Sites | Est. Value |
|---|---|---|---|---|
| Western Sky Village | Billings | 8.3% | 75 | $1,779,394 |
| MTBCITY | Helena | 8.6% | 4 | $86,662 |
| Twelve Mile Dam | Miles City | 10.2% | 6 | $142,351 |
| Grey Sandy Campground & Store | Helena | 15.3% | 12 | $259,986 |
| DJ's RV Park | Ekalaka | 15.3% | 8 | $173,324 |
| Mountain Range RV Park | Columbus | 15.9% | 42 | $956,116 |
| Riverside Motel & RV Park | Malta | 16.5% | 18 | $427,054 |
| Green Valley Campground | Glendive | 16.5% | 28 | $664,307 |
| Old Dorm RV Park | Jordan | 16.5% | 10 | $237,251 |
| Great Falls RV Park | Great Falls | 16.5% | 137 | $3,250,362 |
Get Full Owner Contact Data for Montana
Cap rates tell you where to look. Owner contact data gets you in the door. Access phone numbers, emails, and deal pipeline tools for every park in Montana.
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