Montana
Natural Beauty, Steady Growth, and Expanding Demand
Montana’s unique combination of scenic landscapes, lifestyle appeal, and emerging economic hubs makes it an increasingly attractive market for multifamily investment. From the growing tech scene in Bozeman to the stability of Billings and Missoula, Montana offers strong fundamentals for Summerfield Property Management’s hands-on approach.
We manage rental communities across Missoula, Montana’s metro and looking to expand into other regional areas, delivering property-level results rooted in local expertise and national best practices.
What we love about Montana
Montana is experiencing a wave of in-migration driven by lifestyle seekers, remote workers, and retirees looking for space, affordability, and natural beauty. Cities like Bozeman and Missoula have seen population growth above national averages, supported by expanding tech, healthcare, and education sectors.
Bozeman, often dubbed “Silicon Prairie,” is home to a growing number of startups and remote professionals, anchored by Montana State University. Missoula and Billings serve as regional healthcare and education hubs, with major employers like Providence St. Patrick Hospital, Billings Clinic, and the University of Montana driving job growth.
Montana’s economy is increasingly diversified ranging from tourism and outdoor recreation to renewable energy, logistics, and high-tech manufacturing. The state’s wide-open spaces, business-friendly climate, and high quality of life continue to attract both residents and institutional investors alike.
At a Glance
Population Growth
Above-average in-migration driven by lifestyle, affordability, and remote work
Average Income
Moderate household incomes with growth in tech and healthcare sectors
Number of Properties
Active presence in Missoula with plans for expansion
Management Approach
Customized management solutions that adapt to fast-changing regional markets
Market Insights
Montana’s rental housing demand is outpacing new supply in key markets, especially Bozeman and Missoula, where vacancy rates remain low and rental rates continue to rise. Billings offers a more stable market with consistent occupancy and room for value-add repositioning.
With limited land availability and construction constraints in some areas, well-managed existing communities are well-positioned to outperform. Additionally, the rise of remote work has increased housing demand in areas that were once considered tertiary markets.
2024 Q4
3,874,093
2025 Q4
3,918,311
2026 Q4
3,952,008
2027 Q4
3,985,186
2028 Q4
4,018,207
2029 Q4
4,051,977
2030 Q4
4,086,288
2031 Q4
4,121,278
2032 Q4
4,156,155
2033 Q4
4,190,902
2034 Q4
4,225,503
Challenges
Development Constraints
Zoning limitations and construction delays in high-demand areas
Affordability Pressure
Rapid rent growth challenging workforce housing availability
Operational Scale
Serving geographically dispersed communities in rural and suburban submarkets
Looking Ahead
Montana’s job market is forecast to grow by over 8% from 2023 to 2033, led by healthcare, tech, and professional services. As more households seek alternatives to urban congestion and high costs, Montana’s mix of livability and economic opportunity will continue to drive housing demand.
From stabilizing communities in Missoula to scaling operations in fast-growth Bozeman, our teams deliver targeted management strategies built to perform in Montana’s unique market environment.
Local Presence,
Regional Expertise
Our Montana operations are supported by our Northwest Regional Headquarters in Seattle, with field teams ensuring consistent performance and high resident satisfaction.
Ready to Learn More?
Let’s talk about how we manage better in Montana.
