Montana Real Estate Market Trends 2026
475000
Median Price
Vacancy Rate %
5.2
Population
1132812
Population Growth %
1.5
Home Price YoY % Change
0.5
Average Cap Rate %
5
Rent Yoy % Growth
-0.5
Median Rent
1100
Market Overview
Montana's real estate market in 2026 features a median home price of $475,000, reflecting a +0.5% year-over-year change. The rental market shows declining rents with a median one-bedroom at $1,100/month and two-bedroom at $1,350/month (-0.5% YoY). With a population of 1.1M that is rapidly growing, Montana represents a mid-range market with strong rental demand. The vacancy rate of 5.2% is near the national average (national: 7.2%). Top investment cities include Billings, Missoula, Great Falls, Bozeman, Helena. Montana is considered landlord-friendly in terms of rental regulations.
Top Investment Cities
Billings, Missoula, Great Falls, Bozeman, Helena
Investment Outlook
Montana's market offers an average cap rate of 5%, typical of mid-range markets. Strong population growth supports long-term appreciation potential, offsetting lower initial yields. The high rental demand in Billings and Missoula provides the strongest opportunity for consistent occupancy and rent growth.
Key Takeaways for 2026
Median home price: $475,000 (+0.5% YoY)
Average rent: $1100-$1350/mo
Cap rate: 5%
Vacancy: 5.2%
Population growth: +1.5%
Demand: High
Regulation: Landlord-Friendly