Overall, the Missoula real estate market has remained a healthy industry. The plus side to living in Missoula is the wide variety options among neighborhoods and how it can accommodate all interested parties looking to relocate, up-size, down-size, buy, sell, construct, or rent.
A tight supply on the Missoula real estate market helped to force the median price of a home up another 6.89 percent to a record-setting $255,000 in 2016.
Missoula County Facts
Missoula is the second largest city in Montana and according to U.S. Census data, Missoula County’s population in estimated at over 114,181. The median age of Missoula residents is affected by the University of Montana’s student population, which are 33 years of age for males and 35 years of age for females. The two most prominent age ranges within Missoula County include baby boomers (ages 46-64) and echo boomers (ages 20-34).
Missoula County Housing Overview
Homes sold in Missoula reached a total of 1,392 sales in 2016 with a median price of $255,000.
The median income in 2016 for all Missoula County households was $42,815. About 54% of Missoula County households are homeowners, while 37% are renters. The vacancy level sits under 10%, which a significant portion of that percentage includes units occupied seasonally or are only temporarily vacant.
**************
Sources: Montana Regional MLS as published in the 2017 Missoula Housing Report provided by The Missoula Organization of Realtors.
