Missoula Vacancy Rate Falls in Midyear 2021

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Missoula Vacancy Rate Falls in Midyear 2021

Missoula Apartment Vacancy Rate for 2021

As the vacancy rate continued to drop in Missoula in 2021, we checked back in with the midyear report on multifamily properties. The vacancy rate for apartments came in at 0.38%.

At under one percent, Missoula is far from a healthy apartment vacancy rate of closer to four to five percent. In turn, rents continue to rise. The largest jump in the market came for two-bedroom, two bathroom units. Rents on these units rose by an average of two hundred and eighty six dollars year over year.

And, multifamily properties are still trading in Missoula and we’re seeing far more demand than in prior years. We’re still seeing compressed cap rates across the state but that’s doing very little to slow down buyer interest.

Ready to learn more? Download the full midyear report at the link below, or contact Matt Mellott for more information on Missoula’s multifamily market.

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The report includes vacancy data and rents history for a variety of unit types. Check out a map of local sales and multifamily construction projects. Construction notes include number of units, estimated delivery date, and address. In addition to the Missoula vacancy rate for 2021, the top three amenities for local buyers are noted in the report.

Find multifamily opportunities here.

Older Reports

Download the Q1 2021 Multifamily Report:

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Q4 2020 Multifamily Report download available here


Matt Mellott
Matt Mellott, CCIM/SIOR

Missoula Vacancy Rate Falls in Midyear 2021