2020 Housing Report reveals need for affordable housing in Montana
IMEG’s Paul Forsting served on the coordinating committee for the compilation of the 2020 Missoula Housing Report recently released by The Missoula Organization of Realtors, which showcases the supply and demand needs for housing in the area. Though the data is pre-COVID-19, and likely subject to change as unemployment rises, the report shows a high demand for affordable housing but limited supply to meet that need.
The report also shows a decline in permitting and entitlement in the last two years, partly due to new regulations and escalated standards for housing developments, but the demand is especially high for multi-family housing in densely populated areas like Missoula, where the number of available rentals is less than 4 percent.
While it’s impossible to know if the pandemic will negatively affect supply and demand for housing, the chances of ripple effects are high.
Forsting is a land use and environmental planner in Territorial Landworks now IMEG’s Missoula office.
