housing

A commercial real estate firm in Missoula has released a new analysis saying population, income and rent prices all rose in the county in 2020. Analysts say that it will take time for the housing market to catch up.

Researchers at the University of Montana have released a study that says a booming short-term rental market could have a significant impact on the state’s economy and affordable housing, if left unchecked.

Missoula County signed a $30,000 contract with a Portland-based consulting firm to develop an affordable housing strategy, as the tightening market continues to squeeze both buyers and renters out.

Finding an apartment in Missoula became even harder in the last few months of 2020. 

Sterling Commercial Real Estate Advisors in Missoula released a report Wednesday that says the available rental housing rate dropped below one percent in the fourth quarter last year. The report says a balanced rental estate market would have about a four percent vacancy rate and that Missoula’s low rate means new housing isn’t keeping up with demand. 

Amid job losses that haven’t fully recovered this year because of the pandemic recession, competition in many of Montana’s housing markets is also on the rise. That means many Montanans are struggling to find and keep housing.

Individually, our decisions about where to live and what to do for work shape our lives profoundly. The way Montanans answer those questions collectively, quite literally defines the future of our state. Montana has plenty of selling points. Whether you're a fifth generation resident or a new arrival who's lived here six months. But the limits of our rural economy, like lower wages and fewer jobs in specialized fields, are also downsides. This state of ours is a great place to live. But it can be a hard place to make a living. And of course, if you're a politician looking for votes, that's a natural thing to campaign on.

Learn more now on Share State episode six, "Desiring to Improve The Quality of Life."