Missoula’s rental market faces rising costs, low vacancies

While Missoula’s for-sale housing market remains challenged by supply and rising costs, the city’s rental market also faces challenges, including a low vacancy rate and rising rent.

The median cost of a one-bedroom apartment in Missoula climbed to $1,190 by the end of 2024, while a two-bedroom unit cost $1,490. At the end of 2022, the average cost of a one-bedroom unit was $806 while a two-bedroom unit cost little more than $1,000.