Commercial Real Estate Market in Missoula, MT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
490 active listings and 3,717 off-market properties in Missoula, MT. Commercial property asks $424/SF to buy and $28.18/SF/Yr to lease.
Market Trends
Missoula, MT spans 433.6 square miles in Missoula County, Montana. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Missoula, MT runs 20.8% across the West region in 2025, up from 11% in 2019.
Vacancy Rate % in West region
Retail
Retail vacancy in Missoula, MT runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Missoula, 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 Missoula, 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 43.6%
- Open space 21.3%
- Mixed use 15.5%
- Industrial 13.8%
- Civic 4.2%
- Commercial 1.7%
Largest Zones share of zoned land by district
Open Space
Limited Urban Residential 1
Aviation
Urban Residential 3
Rural Residential
Missoula, MT zones 22,686 acres across 21 districts. Commercial zoning covers 1.7% of zoned land, residential 43.6%, open space 21.3% and industrial 13.8%. The largest single district is Open Space at 21.3%. For commercial buyers the practical constraint is that only 15.5% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Missoula, MT has 98,658 residents in 46,475 households. Density runs 228 people per square mile. Median household income here is $73,078 and median gross rent $1,129 a month.
98,658
Population
46,475
Households
2.1
Avg Household Size
37
Median Age
48%
College-Educated
97%
High-School Grad
433.6 sq mi
ZIP Area
228
Density / Sq Mi
$73,078
Median Household Income
$38,840
Median Earnings
$1,129
Median Rent
$431,843
Median Home Value
Tools
Lease vs Buy Breakeven
At $28.18/SF/Yr lease vs $424/SF buy → buying wins if held > 3.7 years.
At a 6.6% 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.
Frequently Asked Questions
What is the average price per square foot for commercial property in Missoula?
Commercial property in Missoula, MT asks an average of $424 per square foot.
How much does it cost to lease commercial space in Missoula?
Asking lease rates in Missoula, MT average $28.18 per square foot per year.
Is it cheaper to lease or buy commercial space in Missoula?
Buying beats leasing in Missoula, MT if the property is held longer than 3.7 years, comparing $28.18/SF/Yr asking rent with $424/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.
What zoning applies to commercial property in Missoula?
Missoula, MT zones 22,686 acres across 21 districts, of which 1.7% is commercial and 13.8% industrial. The largest single district is Open Space at 21.3% of zoned land. Residential zoning covers 43.6% and open space 21.3%.
Where does Realmo's Missoula market data come from?
Realmo compiles Missoula, MT figures from 388 active sale listings, 102 active lease listings, 3,717 tracked off-market properties, the current Missoula zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 388 active for-sale and 102 active for-lease listings in Missoula, 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: 22,686 zoned acres across 21 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
