Move over, “Yellowstone”—real-life New Yorkers are taking notes on a new drama transporting them out to the mountains of Montana.
Taylor Sheridan’s latest show, “The Madison” starring Michelle Pfeiffer and Kurt Russell, follows a New York family relocating to Montana.
The show is set primarily in the Madison River Valley, near Ennis, MT, a small town with a population of 615.
The median listing price in Ennis is $742,000, which is 49.9% higher than it was pre-pandemic in February 2020.
Over the last six years, Montana has experienced the steepest overall growth in listing prices of any state in the U.S., according to Hannah Jones, senior economic research analyst at Realtor.com®.
Chase Heiland, a Montana real estate broker with Keller Williams, says “The Madison” could be a case of art imitating life—because he’s seen a lot of interest in the area from New Yorkers.
“I had some clients from New York who bought land in Ennis with plans to build their retirement home there someday,” Heiland tells Realtor.com.
He adds that New Yorkers are drawn to the region for its wide-open spaces, ranch lifestyle, and recreational activities such as skiing and fly-fishing.
“You have to place a good amount of value on outdoor recreation for a full-time move to make sense—otherwise, you’re pretty cooped up in the winter,” he says. “In the colder months, many New Yorkers enjoy skiing, snowboarding, snowshoeing, ice fishing, and hunting.”
Heiland says his East Coast clients love Ennis’ small-town charm. “It’s what you would think of as an old cowboy rancher town,” he explains.
Heiland has had New York clients interested in primary residences, vacation homes, ranches, and land to build on in both Ennis and nearby Three Forks, where parts of “The Madison” were also filmed.
Heiland says Three Forks—about 30 minutes west of Bozeman—is where the Missouri River begins, formed by the confluence of the Madison, Gallatin, and Jefferson rivers.
The population of the town is 2,034—and the median listing price is $596,225, 50% higher than it was in February 2020.
This nature lover’s paradise features campgrounds, scenic hiking trails, and ample opportunities for fishing and floating.
“The Madison” was partially shot in Bozeman, where the median listing price is currently $754,000—$250,250 higher than it was in February 2020.
“Bozeman is what’s considered the ‘Big City’ in Montana,” says Heiland. “It has more art, culture, and restaurants than the smaller towns, but is much slower than New York City.”
According to Jones, interest from New York City viewers exploring Montana listings on Realtor.com reached its peak in 2021, making up 5.1% of total viewership.
But with the buzz around “The Madison” that trend may be poised for a shift.
The ‘Yellowstone’ effect
Another Taylor Sheridan juggernaut, “Yellowstone,” attracted a lot of out-of-state buyers to Montana in the last few years, Heiland explains. “I do recall getting calls from people who said, ‘I saw Yellowstone, I want to move there,’ and when I’d ask if they’d ever been here before, they’d say no,” he says.
The series debuted in 2018—only a few years before Montana’s housing market surged during the pandemic.
“Accelerating home prices and substantial growth have characterized the Montana housing market since the onset of the pandemic,” says Jones. “Home shoppers in search of value and views latched on to the scenic state, fueled by a remote-work revolution that decoupled high-paying salaries from coastal urban hubs.”
Much of “Yellowstone” was shot at the picturesque Chief Joseph Ranch in Darby, MT.
It’s a working cattle property that’s a five-hour drive from Yellowstone National Park in Montana’s Bitterroot Valley.
For visitors eager to experience Montana life firsthand, the ranch offers two rental cabins that sleep up to eight guests, with nightly rates ranging from $1,400 to $1,700.
