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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Missoula, MT Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Missoula, MT Housing Market Trends

With a population of 76,955, 32,944 total housing units (homes and apartments), and a median house value of $561,179, Missoula house prices are not only among the most expensive in Montana, Missoula real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Missoula, accounting for 49.43% of the city's housing units. Other types of housing that are prevalent in Missoula include large apartment complexes or high rise apartments ( 26.34%), duplexes, homes converted to apartments or other small apartment buildings ( 13.25%), and a few row houses and other attached homes ( 6.01%).

People in Missoula primarily live in small (one, two or no bedroom) single-family detached homes. Missoula has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Missoula built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Missoula built between 2000 and later ( 30.46%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.26%). There's also some housing in Missoula built before 1939 ( 13.33%).

Missoula Home Appreciation Rates

In the last 10 years, Missoula has experienced some of the highest home appreciation rates of any community in the nation. Missoula real estate appreciated 134.93% over the last ten years, which is an average annual home appreciation rate of 8.92%, putting Missoula in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Missoula definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Missoula's appreciation rate, at 7.22%, has been at or slightly above the national average. In the latest quarter, Missoula's appreciation rate has been -0.87%, which annualizes to a rate of -3.45%.

Notably, Missoula's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Montana, our data show that Missoula's latest annual appreciation rate is higher than 90% of the other cities and towns in Montana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Missoula differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Missoula - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Missoula real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$561,179

Missoula, MT Home Prices
> $1,528,000
$1,146,001 - $1,528,000
$764,001 - $1,146,000
$611,001 - $764,000
$458,001 - $611,000
$306,001 - $458,000
$153,001 - $306,000
$76,001 - $153,000
$0 - $76,000
3.6%
3.6%
5.2%
5.2%
19.8%
19.8%
18.1%
18.1%
25.3%
25.3%
17.1%
17.1%
4.0%
4.0%
1.9%
1.9%
5.0%
5.0%
0% 100.0%
% of Homes
Very High

for Montana

Very High

for nation

Number of Homes And Apartments:

32,944

Missoula Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,574 / per month

Homeownership Rate

Owners
Renters
45.1%
45.1%
54.9%
54.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.7%
6.7%
93.3%
93.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
30.5%
30.5%
32.9%
32.9%
23.3%
23.3%
13.3%
13.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.4%
49.4%
6.0%
6.0%
13.2%
13.2%
26.3%
26.3%
4.8%
4.8%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.6%
4.6%
19.2%
19.2%
32.3%
32.3%
24.8%
24.8%
13.2%
13.2%
5.8%
5.8%
0% 100.0%
% of Homes