A new study says owning a home in Missoula isn't affordable - He - KULR8.com | News, Weather & Sports in Billings, Montana

A new study says owning a home in Missoula isn't affordable - Here's why:

Posted: Updated:

New research from a University of Montana professor shows that owning a home in Missoula is not affordable based on a variety of factors.

Much of what makes housing unaffordable to many in Missoula is income and home value. Homes in Missoula are 5 times more than the annual household income. The median home value in Missoula is just under $300,000 while the United States average is just over $200,000. The median household income in Missoula is just above $40,000 while the U.S. average is just under $60,000. This puts Missoula in the 98th percentile of affordability alongside much larger cities like Seattle, Washington, which means there are nearly 800 more affordable cities to live in the U.S.

Associate Director UM Bureau of Business and Economic Research Bryce Ward said  “Demand is high relative to supply and so prices continue to go up by a fair amount and so we end up with houses that are high relative to the nation and high relative to most places in the west.”

In addition to this income also plays a small part in the housing cost. Reports show 42 percent of Missoulians income is from a non-wage source such as stocks or capital gain, which allows many to comfortably afford higher priced homes.

For anyone who wants more details on housing affordability you can attend the Missoula City Council Chambers event tonight at 7 p.m.

  • Most Popular

  • Most Popular StoriesMost Popular StoriesMore>>

  • 2 people killed, 4 injured in crash west of Kalispell

    2 people killed, 4 injured in crash west of Kalispell

    The Montana Highway Patrol says black ice contributed to a single vehicle crash on U.S. Highway 2 in northwestern Montana that killed a Kalispell couple and injured four others.
    The Montana Highway Patrol says black ice contributed to a single vehicle crash on U.S. Highway 2 in northwestern Montana that killed a Kalispell couple and injured four others.
  • Phillips Co. wildfire sends smoke plumes over 100 miles

    Phillips Co. wildfire sends smoke plumes over 100 miles

    Thursday, November 23 2017 11:51 PM EST2017-11-24 04:51:09 GMT

    A wildfire continues to burn in Phillips County Thursday evening. There's still no known cause or exact acreage on that wildfire, which is burning southeast of Malta.  The flames erupted earlier this afternoon. According to the National Weather Service in Glasgow, smoke plumes appearing on radar were stretching over 100 miles long. It is also unclear at this time whether structures are threatened.  We'll continue to update you as we learn more information.   

    A wildfire continues to burn in Phillips County Thursday evening. There's still no known cause or exact acreage on that wildfire, which is burning southeast of Malta.  The flames erupted earlier this afternoon. According to the National Weather Service in Glasgow, smoke plumes appearing on radar were stretching over 100 miles long. It is also unclear at this time whether structures are threatened.  We'll continue to update you as we learn more information.   

  • Pipeline protester found guilty in Fort Benton

    Pipeline protester found guilty in Fort Benton

    Wednesday, November 22 2017 8:03 PM EST2017-11-23 01:03:23 GMT

    65 year old Leonard Higgins turned off an emergency valve at a Spectra Energy site last October just south of Big Sandy. Not only did the self-proclaimed activist admit to turning the valve off. He video taped himself as he did it. 

    65 year old Leonard Higgins turned off an emergency valve at a Spectra Energy site last October just south of Big Sandy. Not only did the self-proclaimed activist admit to turning the valve off. He video taped himself as he did it. 

  • 2 people killed, 4 injured in crash west of Kalispell

    2 people killed, 4 injured in crash west of Kalispell

    Wednesday, November 22 2017 1:31 PM EST2017-11-22 18:31:14 GMT

    KALISPELL, Mont. (AP) - The Montana Highway Patrol says black ice contributed to a single vehicle crash on U.S. Highway 2 in northwestern Montana that killed a Kalispell couple and injured four others.

    KALISPELL, Mont. (AP) - The Montana Highway Patrol says black ice contributed to a single vehicle crash on U.S. Highway 2 in northwestern Montana that killed a Kalispell couple and injured four others.

  • Big Sky Resort, ways you can save money on the slope

    Big Sky Resort, ways you can save money on the slope

    Friday, November 24 2017 6:34 AM EST2017-11-24 11:34:12 GMT

    Skiing can be an expensive hobby but, Big Sky Resort has a bunch of deals that can help save you money for when you want to hit the slope. 

    Skiing can be an expensive hobby but, Big Sky Resort has a bunch of deals that can help save you money for when you want to hit the slope. 

  • Missoula family thankful for stranger's holiday generosity

    Missoula family thankful for stranger's holiday generosity

    Thursday, November 23 2017 1:30 AM EST2017-11-23 06:30:11 GMT

    One Missoula family is giving thanks after a secret Santa pays off the layaway payments for their children's toys. 

    One Missoula family is giving thanks after a secret Santa pays off the layaway payments for their children's toys. 

  • Soccer

    Hope Solo Poses Nude, Says She's No Role Model

    Hope Solo Poses Nude, Says She's No Role Model

    Tuesday, August 23 2011 3:18 PM EDT2011-08-23 19:18:32 GMT
    Richland's own Hope Solo became a household name this summer during the women's World Cup soccer championship. And now she has posed nude for the Body Issue of ESPN The Magazine.
    Richland's own Hope Solo became a household name this summer during the women's World Cup soccer championship. And now she has posed nude for the Body Issue of ESPN The Magazine.
  • Our Apologies

    The page you requested is currently unavailable. Pages on this site are constantly being revised, updated, and occasionally removed. You may have followed an outdated link or have outdated pages in your

    You have reached a page which is currently unavailable. We apologize for any inconvenience. Please use your browser's BACK button to return to the previous page