Commercial Real Estate Market in Helena, MT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
242 active listings and 2,318 off-market properties in Helena, MT. Commercial property asks $450/SF to buy and $15.97/SF/Yr to lease.
Market Trends
Helena, MT spans 654.6 square miles in Lewis and Clark County, Montana. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Helena, MT runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Helena, MT runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Helena, MT runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily vacancy in Helena, MT runs 8.6% across the West region in 2025, up from 7% in 2022.
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 34.4%
- Civic 23.8%
- Industrial 18.5%
- Commercial 14.4%
- Mixed use 6.8%
- Planned_development 2.2%
Largest Zones share of zoned land by district
Public Lands And Institutions District
Residential District
General Commercial District
Airport
Residential District
Public Lands And Institutions District (PLI)
M. The PLI (Public Lands and Institutions) District provides for and applies only to public and quasi-public institutional uses and lands, and recreational, educational, and public service activities for the general benefit of the citizens of the City. N. The T (Transitional) District provides for an orderly and harmonious transition between zoning districts…
Market overview
Demographics & Economy
Helena, MT has 60,532 residents in 28,060 households. Density runs 92 people per square mile. Median household income here is $78,962 and median gross rent $1,154 a month.
60,532
Population
28,060
Households
2.2
Avg Household Size
41
Median Age
45%
College-Educated
95%
High-School Grad
654.6 sq mi
ZIP Area
92
Density / Sq Mi
$78,962
Median Household Income
$46,535
Median Earnings
$1,154
Median Rent
$362,221
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.97/SF/Yr lease vs $450/SF buy → buying wins if held > 26.6 years.
At a 3.5% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Helena | — | — |
| Montana City | — | — |
Commercial property in Helena, MT asks $450/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Helena?
Commercial property in Helena, MT asks an average of $450 per square foot.
How much does it cost to lease commercial space in Helena?
Asking lease rates in Helena, MT average $15.97 per square foot per year.
Is it cheaper to lease or buy commercial space in Helena?
Buying beats leasing in Helena, MT if the property is held longer than 26.6 years, comparing $15.97/SF/Yr asking rent with $450/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Helena market data come from?
Realmo compiles Helena, MT figures from 193 active sale listings, 49 active lease listings, 2,318 tracked off-market properties, the current Helena zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 193 active for-sale and 49 active for-lease listings in Helena, MT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 11,038 zoned acres across 34 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
