Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
The median asking price in Missoula is about $653,000 as of Oct 2026, up 1.7% from a year ago. That is the asking price on listed homes, so sold-price and home-value sites show different numbers (why).
Only on the right house. Neither side has the upper hand in Missoula right now. Missoula is close to its 2017–2019 normal for this time of year. The market will not hand you a discount. You have to find it in one specific listing.
Asking price per square foot in Missoula is up 4.2% over the last year. 3 of the 5 ZIP codes with at least 10 listings rose. 59802 led at up 10.1%, and 59804 trailed at down 7.8%. The gains are uneven. Price each ZIP on its own trend. Over five years the pace has been 4.4% a year. Underwrite closer to that than to the last twelve months.
The median asking price is 17.2% below its Apr 2022 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Missoula prices have risen in 96 of the last 112 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.
This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.
Ranked among the 5 Montana markets we track:
For every 100 homes still for sale, 25 are under contract. In 2017–2019 at this time of year it was 27. The rest are still waiting for a buyer. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing.
Missoula listings spend a median 80 days on the market. That is 9% longer than a year ago. There are 353 homes for sale in Missoula. That is 8.4 times the tightest month on record, but below the peak of 424. Supply is shrinking against last year.
In Missoula, 46 out of every 100 households rent. That is nearly half. That share has held steady for five years. Missoula added about 1,400 renter households in five years. Renter households average 1.9 people. Singles and couples rent here. Two bedrooms beat four.
Households grew 8% in five years. The housing stock grew 8%. The two are moving in step. Just 5.6% of homes sit empty. A well-priced rental fills fast here.
The median Missoula household earns $74,733 a year. Incomes here have grown 7.1% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 8.7 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $1,868 a month.
To see what one Missoula address would rent for and cash flow, run it through the app.
Read cash flow versus appreciation and how we read these numbers, then run the numbers on a deal.
The median asking price in Missoula is about $653,000 as of Oct 2026, up 1.7% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Missoula figures cover the 8 ZIP codes with a Missoula mailing address, which can reach past city limits.
Neither side has the upper hand in Missoula right now. We compare Missoula with 2017–2019 at this time of year: listings spend 24% more days on the market; 18% of sellers have cut their price, against 14% then; there are 25 pending sales per 100 listings, against 27 then.
The median asking price is 17.2% below its Apr 2022 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.
59802. Only 20 homes under contract for every 100 still for sale. 14% of sellers there have cut their price, and listings there spend a median 123 days on the market.
Across 9 full years, Missoula asking prices ran lowest in March, about 5.3% below the year's average. They peaked in December. The most homes for sale show up in September, about 21% above the yearly average.
Assume +4.4% a year. Missoula grew 7.6% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Missoula grows about 4.4% a year. That is the number to type in. Prices rose 4.2% over the last year. Use it for timing. The five-year rate is the better guide.
HUD's fiscal year 2026 fair market rent for Missoula County is $1,655 a month for 2 bedrooms and $2,302 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.
ZIP 59801 is on both lists. That is rare. It is the one place in Missoula where leverage and growth overlap.
| ZIP | $/sqft, 2 yrs | $/sqft now | Buyers per home | For sale |
|---|---|---|---|---|
| 59808 | +3.6% | $363 | 0.26 | 94 |
| 59804 | -1.5% | $377 | 0.24 | 34 |
| 59801 | -7.2% | $349 | 0.27 | 71 |
| 59802 | -7.3% | $382 | 0.20 | 86 |
| 59803 | -10.7% | $279 | 0.29 | 68 |
Computed from each ZIP's own ten-year history. ZIPs with fewer than 10 homes for sale are excluded: a median across a handful of listings is noise, not a signal.
Missoula has eight ZIP codes. Each links to its live market dashboard.
Closest matches on asking price, price per square foot, time on market, buyer demand, and price cuts.
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