$0
Average Rent
$1,437 average rent in Montana, Q3 2026
0%
Occupancy Rate
93% occupancy rate Montana, Q3 2026
0
T4Q Net Absorption
487 T4Q net absorption in Montana, Q3 2026
0%
Annual Rent Change
1% annual rent change in Montana, Q3 2026
0
BPS Annual Occupancy Change
-60 BPS annual occupancy change in Montana, Q3 2026
0
T4Q Unit Completions
56 T4Q net absorption in Montana, Q3 2026
KEY TAKEAWAYS
- The demand recovery continued in Montana’s three primary rental markets, with trailing four-quarter absorption comfortably outpacing new supply, though performance diverged sharply by market.
- The new supply wave following the pandemic has fully run its course statewide, with no units under construction across all three primary markets, down from a 2021 cycle peak of nearly 1,900 units.
- Annual rent gains held positive overall and average occupancy improved on the quarter, even as the state continues working through the tail end of its 2023-2025 delivery wave. Great Falls posted the strongest rent growth of the three markets and Billings the only one still in annual decline.
MARKET OUTLOOK
Montana’s near-term path looks less like one trajectory and more like three stories converging on a similar destination…
Montana Advisors
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Northeast / Mid-Atlantic & Northeast
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Massachusetts
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471.021452
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Missouri
License Number
00225447 (KS) & 2006007641 (MO)
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Office Location
Missouri
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2013036603
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