Missoula sees $233M worth of new development in ’23, housing construction slows

There were only 448 new homes permitted for construction in Missoula in 2023, a 48% decline from the 861 permitted in 2022 and a far cry from the 1,338 permitted in 2021.

However, the number permitted last year was still right around the 476 permitted in 2020 and the 456 permitted in 2019.

Missoula is in the midst of a severe affordable housing crisis, and most experts say that a lack of supply is driving up prices for both renters and buyers.

According to the city’s year-in-review development report, the total market value of all construction in Missoula in 2023 was $233.3 million.

Construction activity at the new $40 million apartment project on Hillview Way in the South Hills neighborhood of Missoula on Tuesday, Dec. 19.


That’s a 28% decrease from the near-record $322.7 million seen in 2022. The all-time record for development in Missoula was the post-pandemic year of 2021, when the number hit $325.2 million.

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The city’s report says that 2022 saw 33 more

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