Why is housing so expensive in Missoula?

Since this time last year, the median sale price for a home in Missoula increased 20.5%, to $403,450. McMannis said the increase in prices is simply due to supply and demand. There are more buyers than houses, and with multiple offers on a property, prices increase even more.

What is the housing market like in Missoula Montana?

The median sales price of homes sold in the Missoula area in the first six months of 2021 was $430,000, according to a new report from the Missoula Organization of Realtors. That’s a 22.9% increase over the median sales price for all of 2020, which was $350,000.

What is the median house price in Missoula MT?

The 2020 median sales price of a Missoula home was $350,000. Rolling forward to the end of the first quarter of 2021; $420,000. “Median” describes the point at which half the sales are above that price and half are below.

Is Missoula expensive to live in?

Missoula has a population of 72,364, making it both Montana’s second largest city and the 494th largest US city. Missoula has an average monthly rent of $852 which is substantially below the national average rent. The cost of living in Missoula is substantially lower than the national average.

Is Missoula MT a good place to live?

Missoula is a great place to live, very high quality of life, lots of recreational opportunities, with a beautiful landscape and truly excellent schools – people don’t know what a ‘good school’ is until they’ve sent their kids to one and Missoula public schools are excellent.

Is Montana Real Estate Booming?

The Montana city’s lifestyle and culture are changing with an influx of new homeowners. The Bozeman housing boom predates Covid-19, but the pandemic lockdowns sent the real-estate market into overdrive. The Bozeman housing boom predates Covid-19, but the pandemic lockdowns sent the real-estate market into overdrive.

Why are house prices so high in Montana?

Due to increased demand and reduced supply, the housing market in Montana is experiencing a significant boom. While Montana is naturally a desirable place to live, the consequences of COVID-19 have paved the way for an influx of new residents into the state, which is accelerating the rise in prices.

What is the cost of living in Montana?

Our cost of living indices are based on a US average of 100. An amount below 100 means Montana is cheaper than the US average….Montana cost of living is 94.0.

COST OF LIVING	Montana	United States
Grocery	99.6	100
Health	100.2	100
Housing	100.4	100
Median Home Cost	$353,700	$291,700

Is Missoula Montana safe?

With a crime rate of 45 per one thousand residents, Missoula has one of the highest crime rates in America compared to all communities of all sizes – from the smallest towns to the very largest cities. One’s chance of becoming a victim of either violent or property crime here is one in 22.