Missoula, Montana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Missoula, Montana rental market.
Missoula, Montana
Average Apartment Rent
$1,546
Y-o-Y Change in Average
Apartment Rent
5.1%
As of November 2024
Compared to a year ago, Missoula, Montana apartments have recorded a 5.1% rent increase.
Missoula, Montana Average apartment rent trend
Missoula, Montana Average Apartment Rent
Missoula, Montana Apartment rent ranges
At 48.03%, apartments priced $1,000 - $1,500 represent the bulk of Missoula, Montana rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.21%.
Missoula, Montana Housing tenure**
Renters take up 53% of Missoula, Montana real estate, occupying a total of 17,500 units, while homeowners live in 15,444 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$42,479
Average household size of renter-occupied housing units**
1.95
Rental vacancy rate**
4.4%
Missoula, Montana Renter-occupied housing units by no. of bedrooms**
There are 7,356 rentals in Missoula, Montana with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 180 units. Overall, the median number of rooms in Missoula, Montana homes for rent is 3.7.
Missoula, Montana Renter-occupied units by age of householder**
Most condos for rent in Missoula, Montana are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 15 - 24 years age group (23%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 2%.
Missoula, Montana Renter-occupied housing units by family type**
Missoula, Montana Renter-occupied housing units by the presence of own children**
A total of 5,321 apartments for rent in Missoula, Montana, or 30% of all rentals are family households. Additionally, 15% of rental homes include children under the age of 18 – that’s 2,697 units. All in all, the median size of a renter-occupied household in Missoula, Montana is 1.95.
Missoula, Montana Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 41% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Missoula, Montana.
Missoula, Montana Renter-occupied units by year structure built**
The highest share of Missoula, Montana apartment rentals, namely 17% or 2,909 units, were Built 1970 - 1979, followed by those Built 2010 - 2019 (16%, 2,864 units), and the ones Built 2000 - 2009 (14%, 2,530 units).
Missoula, Montana Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Missoula, Montana renters (45%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Missoula, Montana condos for rent is 2019.
Missoula, Montana Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Missoula, Montana renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 13% have No vehicle available.
Missoula, Montana Means of transportation to work of householders living in renter-occupied housing units**
Missoula, Montana Geographical mobility in the past year for householders living in renter-occupied housing units**
Missoula, Montana Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Missoula, Montana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
