The ‘Montana Miracle’ continues through housing reform pass in 2025

The ‘Montana Miracle’ continues through housing reform pass in 2025

Since the end of the 2008 financial crisis, Montana has experienced some of the highest home price appreciation of any state in the nation. Rapid population growth, coupled with a stagnant housing supply, has resulted in a median listing price of $639,000 as of May 2025. In response, Montana’s state legislature passed a series of housing reforms referred to as the “Montana Miracle” in 2023 (see Table 1). These included various zoning reforms, a …