Housing Development & Occupancy
Despite a growing population, a tight supply of real estate and a relatively tight rental market, construction did not increase in Missoula in 2018.
Multi-family unit construction, which had enjoyed significant increases from 2016 to 2017, suddenly dropped in 2018. Within the City of Missoula, permits for new multi-family units declined 64 percent, while county permits dropped 48 percent. However, duplex permits increased and single-family permits remained relatively level.
Residential lot sales remained the same in 2018 as they were in 2017, with 169 lots sold. The median price was $90,000.
Several large, previously approved subdivisions completed development phases in 2018, raising the total number of subdivision lots that had received final approval and were ready for building up to 322. However, only 18 residential lots entered the first stage of preliminary plat approval, none of them within the city.
In the City of Missoula, about 46 percent of housing units are occupied by their owners; in Missoula County owners occupy approximately 58 percent of the units.
Population & Income
Missoula County continued to grow, adding another 1,311 residents between 2016 and 2017. While most of that growth … Read more