Commercial Real Estate Market in Montana
Montana has 2,186 active for-sale listings and 826 active for-lease listings. Statewide, the median asking price is $205/SF and the median asking rent is $19.00/SF/Yr as of November 2026. Realmo tracks 21 city markets here; among the 12 with enough listings to rank, median asking prices range from $120/SF in Billings to $556/SF in Whitefish.
- Median asking price
- $205/SF
- Median asking rent
- $19.00/SF/Yr
- For-sale listings
- 2,186
- For-lease listings
- 826
- City markets
- 21
Highest- and Lowest-Priced Markets
Asking prices vary across Montana: the median in Whitefish is $556/SF, 4.6x the $120/SF median in Billings. The figures below are median asking prices from live listings, not closed sales.
Asking Prices
The highest median asking prices are in Whitefish at $556/SF, Columbia Falls at $422/SF and Bozeman at $357/SF. The lowest median asking prices are in Billings at $120/SF, Great Falls at $138/SF and Butte at $170/SF. 7 of 12 ranked markets have median asking prices above the statewide $205/SF.
Asking Rents
The highest median asking rents are in Bozeman at $24.01/SF/Yr, Kalispell at $20.50/SF/Yr and Missoula at $17.19/SF/Yr. The lowest median asking rents are in Billings at $12.77/SF/Yr, Helena at $16.00/SF/Yr and Belgrade at $16.00/SF/Yr. 2 of 7 ranked markets have median asking rents above the statewide $19.00/SF/Yr.
Montana vs. Neighboring States
The median asking price in Montana is $205/SF, above the $155/SF median of its 4 neighboring states. By median asking price, the state ranks 2nd of 5 in the group; Idaho is highest at $206/SF and South Dakota lowest at $122/SF. The median asking rent is $19.00/SF/Yr, compared with $20.00/SF/Yr in Idaho, $14.39/SF/Yr in South Dakota and $16.00/SF/Yr in North Dakota next door. The statewide median asking price is above the U.S. median of $178/SF.
| State | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr | For-Sale Listings | For-Lease Listings |
|---|---|---|---|---|
| Montana | $205 | $19.00 | 2,186 | 826 |
| Idaho | $206 | $20.00 | 2,074 | 831 |
| North Dakota | $135 | $16.00 | 551 | 337 |
| South Dakota | $122 | $14.39 | 690 | 277 |
| Wyoming | $175 | $45.00 | 807 | 73 |
| United States | $178 | $18.28 | 265,785 | 185,367 |
A dash means fewer than 10 listings with a usable price.
Commercial Real Estate Markets in Montana
Realmo tracks 21 city markets in Montana, listed below by active listings. Bozeman leads with 501 active listings, followed by Billings and Missoula.
| City | Active Listings | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|---|
| Bozeman | 501 | $357 | $24.01 |
| Billings | 494 | $120 | $12.77 |
| Missoula | 345 | $256 | $17.19 |
| Kalispell | 203 | $310 | $20.50 |
| Helena | 165 | $192 | $16.00 |
| Butte | 131 | $170 | — |
| Belgrade | 120 | $259 | $16.00 |
| Great Falls | 98 | $138 | $16.50 |
| Columbia Falls | 56 | $422 | — |
| Whitefish | 55 | $556 | — |
| Polson | 32 | $229 | — |
| Manhattan | 19 | $172 | — |
| Laurel | 18 | — | — |
| Roundup | 15 | — | — |
| Sidney | 15 | — | — |
| Conrad | 11 | — | — |
| Ronan | 10 | — | — |
| Darby | 9 | — | — |
| Glendive | 8 | — | — |
| Whitehall | 7 | — | — |
| Gallatin Gateway | 5 | — | — |
Same method as the statewide figures. A dash means fewer than 10 listings with a usable price.
Frequently Asked Questions
What is the median price per square foot for commercial property in Montana?
How much does it cost to lease commercial space in Montana?
Which cities have the highest and lowest commercial property prices?
How do commercial property prices in Montana compare with neighboring states?
Which markets in Montana have the most active listings?
Where does Realmo's market data come from?
Methodology and Data Sources
- Listing coverage
- Asking figures come from 2,186 active for-sale and 826 active for-lease listings across Montana in Realmo's public listing index. They are asking prices, not closed-transaction prices. Sale and lease counts are separate and may overlap. Land listings are not counted. The medians are based on the 1,187 for-sale and 517 for-lease listings that state a price or rent per square foot.
- Asking prices and rents
- Prices are medians of each listing's asking price per square foot, so a few very high or very low listings do not skew them. Data-entry errors are left out, and a median is published only with at least 10 listings with a usable price. A listing with a price range can contribute both endpoints.
- Neighboring states
- Neighboring-state comparisons use the same method and the same snapshot for every state, plus the United States as a reference.
- City markets
- The city list includes cities with more than 3 active listings whose market page has enough data to publish, ordered by active listings, up to 40. The price ranking covers cities with at least 10 priced listings for each metric and leaves out a city more than three times above or below the statewide median. City counts and prices use the same method as the statewide figures, so the table compares like with like; a city's own market page uses its own method, so its figures can differ.
- Updates
- Statewide and neighboring-state figures refresh hourly and city figures daily. Last updated 6 November 2026.
