2020 Missoula Housing Report
The 15th annual housing report was recently published by MOR (Missoula Organization of Realtors). It was compiled to provide a complete picture of our community, from affordability challenges to demographics, improvements over the years, and issues requiring our attention in the years to com. Topics covered include Housing Supply (development & occupancy), Housing Demand (population & income), Rental Housing, Housing Sales & Prices, Mortgage Finance, and Housing Affordability.
" In 2019, Missoula recorded its largest increase in the median price of a home in the last decade. The median price of a home rose 8.6 percent to $315,000...."
With both rental and home prices seeing increases in 2019, home availability and affordability remains a considerable challenge for many in Missoula. A large gap exists between the median income of homeowners and that of renters, concurrently homes Missoulians can afford are becoming increasingly limited.
On a bright note -"Data shows that home values continue to have strong appreciation in Missoula."
Read more about the state of our local market by accessing the full 2020 Missoula Housing Report: HERE