Billings
Montana · Ranked #227 of 373 metros
69Moderate
💡
Housing in Billings costs 5.12× the median income, above the national average of 4.5×. The median home price is $363K and median rent is $1,002/month. Billings ranks #227 of 373 metros for affordability.
Median Home Price
🏠$363K
Need $107K income
Median Rent
🔑$1,002
Need $40K income
Building Permits
🔨1,525
annual
Median Income
💰$71K
Pop: 206,827
Rent Burden
⚠️15.9%
of renters paying >30%
Homeownership
🏡68.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Billings | National |
|---|---|---|
| Price-to-Income Ratio | 5.12x | 6.1x |
| Rent Burden | 15.9% | 31.5% |
| Homeownership Rate | 68.0% | 65.5% |
| YoY Rent Change | 0% | +2.8% |
| Mortgage Denial Rate | 0.0% | 13.5% |
| Eviction Rate | 0.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +58.3%Since 2000: +235.9%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,016/mo
1 Bedroom$1,109/mo
2 Bedroom$1,417/mo
3 Bedroom$1,951/mo
4 Bedroom$2,216/mo
Zillow Market Data
Home Value (ZHVI)
$399K
1yr: +1.5%5yr: +39.1%
Rent (ZORI)
$1,364/mo
1yr: +4.5%5yr: +38.8%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$390K
Active Inventory
772
Days on Market
116
Sold Above List
0.0%
Price Drops
13.3%