Quarterly Reports

Bozeman’s Multifamily Market | Tight Competition For Tenants

Bozeman’s multifamily vacancy rate dropped to 5.64% in the 1st quarter of 2024 from 7.52% at the end of 2023. Rents crept up by less than 1%. Landlords are putting in a big effort to fill units, offering everything from 2-months free rent to laptops to season long ski passes. Vacancy The vacancy rate currently […]

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New Homes Spell Relief for Missoula Renters

With multifamily construction in full swing throughout 2023, the Missoula multifamily market has finally reached a state of equilibrium. In Q4 2023, the vacancy rate for market-rate rentals nearly doubled, rising to 6.13% compared to 3.37% in Q3. This change is welcomed by renters as it provides more choices.   The current average rent stands

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Big Changes in Bozeman’s Housing Market

Bozeman’s multifamily vacancy rate inched its way over 7% in the 3rd quarter of 2023. Vacancy rates will likely continue to rise as 1,476 units are under construction in the market. Rents are dropping and concessions are picking up, as the market shifts from a landlord’s market to a renter’s market.   Vacancy The vacancy

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Does Research Reveal Relief for Renters in Missoula?

Missoula Multifamily Market Overview | Q3 2023 Missoula’s multifamily vacancy rate is inching up, meaning more available units in the market. Going forward, expect to see slow growth in vacancy rates and stable rents. Missoula renters are unlikely to see a significant drop in rent, though incentives such as $100 to $200 off the first

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Rise Of The Bozeman Industrial Market: Key Trends And Insights

Bozeman’s industrial market has seen a small bump in vacancy rates, according to a report from the Sterling Commercial Real Estate Advisors research team. In the first half of 2023, the industrial vacancy rate in Bozeman rose to 2.65%. This is  a 2.25% rise from the same period the previous year. However, 2.65% is a

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Bozeman’s Boom-tastic Bonanza: Apartments Fly Up Across the City

Hammers, nails, and engineered wood flooring have been flying at new apartment communities across Bozeman in 2023. Fast and furious construction is bringing needed new housing to market. This is good news for Bozeman’s tenants who have seen limited options and rising rents through 2021 and 2022.   Vacancy Rate As we near the end

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Missoula Industrial 2023 Trends

Missoula Industrial 2023 Montana industrial product continues to hold a position in the spotlight – with Missoula industrial product showing gains. The tremendous growth in e-commerce has been the primary driver of the push on industrial product, as e-commerce propelled major warehouse and distribution expansion across the nation – including Montana. E-commerce currently accounts for

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Will Missoula Renters Catch a Break? Apartment Vacancy on the Rise

Missoula’s multifamily market entered 2023 with a vacancy rate of 2.91%. Vacancy rates have edged up through 2022, rising almost a full percent in the fourth quarter. Most available units are located in the Mullan and Reserve submarket, where most of Missoula’s new housing construction is ongoing. The average Missoula apartment asking rent is $1,333.90

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