Recent years have brought exciting progress in static and functional lung imaging across multiple pulmonary conditions such as COPD, asthma, bronchiectasis, interstitial lung disease, and pulmonary vascular disease. These advances included the use of hyperpolarized noble gas MRI to enable visualization of ventilation and lung perfusion as well as inspiratory/expiratory CT matching techniques to detect and quantify functional small airways disease. These advances have improved our understanding of the pathophysiology of chronic lung disease and offered tools that have the potential to be used for patient stratification and the assessment of intermediate therapeutic endpoints in clinical investigation.