rent

Vacancy rates within Missoula's multifamily housing market ticked up 0.61% while the average rent increased 7.4%, according to the latest housing snapshot released by Sterling CRE in Missoula.

Washington’s statewide cap on annual residential rent increases will be just shy of 10% next year, down slightly from its current level.

The Missoula City Council officially adopted a resolution on Monday night discouraging the use of price-fixing software and “anti-competitive” rental practices

Hayden Cook writes, "I’m committed to advancing five practical, proven policies that will bring greater accountability to our rental market and peace of mind to those who call Missoula home."

Oak Wood Properties has since backed down from its proposed “staggering increase,” but any increase in rent may challenge some residents, the county said.

The resolution only discourages the use of “price-fixing algorithmic software,” but it's sponsors hope it's enough to prod local property managers and landlords to steer clear of the technology.

The Trump administration is pushing to reshape the federal housing safety net by slashing spending and shifting the burden of housing millions of people to states, which may be ill-equipped to handle the mission.

Gov. Bob Ferguson signed the bill on Wednesday, it takes effect immediately and will not allow for hikes of more than 10% in a year.

Attorney General Nick Brown said landlords have used RealPage’s products to set rent for 800,000 leases across Washington.

The bill would limit annual price hikes for residential tenants to no more than 7% a year. It next goes to the state Senate.