2022 Market Outlooks

The continued housing crunch puts upward pressure on rental rates 

• By Dustin Rinker

The housing market in the Helena economic area continues to show a shortage. Rental rates continue to climb with a 21% annual increase from last spring alone for 2 bedroom units (with a $1150 median for 2 bedrooms). This only increases with larger housing products; with 29% and 28% annual increases on 3 bedroom and 4 bedroom units respectively. 

This shows that the demand for housing has remained steady even on the tail end of the Covid-19 influenced housing boom over the last 2 years. In such a short time period, it remains to be seen whether this over the top demand will continue, or if building will catch up with the local demand. Overall it appears that both rentals and general housing will continue to be in high demand.  

Our opinion based on the data we have available and our experience on the ground is that through the spring and summer rates will remain high and vacancy very low; barring unforeseen circumstances or economic issues. 

Thoughts? Email us at dustin@bigfootmg.com