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City · 119,434 residents · Yellowstone County, Montana

Billings , Montana

In Billings, a typical home is worth $343,400 and typical rent is $1,138 a month. Home values, rent and income are very close to those of all of Yellowstone County.

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  • Typical home value

    $343,400

    About the same as the county

    9% below Montana

    • Billings
    • Yellowstone
    • Montana

  • Typical rent

    $1,138a month

    About the same as the county

    5% above Montana

    • Billings
    • Yellowstone
    • Montana

  • Typical household income

    $73,712a year

    4% below the county

    About the same as Montana

    • Billings
    • Yellowstone
    • Montana

  • Households that own their home

    65%

    5 points below the county

    4 points below Montana

    • Billings
    • Yellowstone
    • Montana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$401,071
2.4% more than 12 months ago
Typical rent
$1,393 a month
3.6% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Billings is in Yellowstone County. The FHA loan limit ($754,400 for a one-unit home), the fair market rents and the help on this page are those of all of Yellowstone County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Billings apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Lewistown, the typical home value is $198,400: 42% less than in Billings ($343,400).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Billings

What homes there are in Billings, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

As in Yellowstone County, most homes in Billings are detached houses (63%).

Year built

The typical year built in Billings is 1980, about the same as in Yellowstone County (1982).

Homes in Billings are smaller: 62% have 3 bedrooms or more; in Yellowstone County, 67%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

About 96% of owner-occupied homes in Billings are worth less than the FHA loan limit for Yellowstone County ($754,400).

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Yellowstone County is $1,432; about 69% of rents in Billings are below it.

With a mortgage

$1,781 a month

Yellowstone County: $1,846 a month

Without a mortgage

$642 a month

Yellowstone County: $635 a month

Owners with a mortgage

60%

Yellowstone County: 59%

In Billings, 60% of owners have a mortgage; their typical cost is $1,781 a month, about the same as in Yellowstone County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, home values in Billings rose at about the same pace as in Yellowstone County: 55% against 55%.

Rents in Billings rose at about the same pace as in Yellowstone County: 27% since 2015–2019, against 27%.

Housing prices ran ahead of income in Billings: typical income rose 24%, against +55% for home values and +27% for rent.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBillingsYellowstone CountyMontanaUnited States
Rental vacancy 4.3%4.3%5.3%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room 1.1%1.3%1.8%3.4%
People per household 2.282.372.372.53
Drive alone 78%77%71%69%
Carpool 9%9%10%9%
Public transit 1%1%1%3%
Walk or bike 3%2%5%3%
Work from home 9%9%13%15%
Other means 1%1%1%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

Much as in Yellowstone County, the rental vacancy rate in Billings is 4.3%.

Much as in Yellowstone County, 1.1% of households in Billings have more than one person per room.

By size, households in Billings look like those in Yellowstone County: 2.28 people on average.

The car rules in Billings: 78% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Billings?

A typical home costs more than the typical income allows

We start with a typical home in Billings, worth $343,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 46% of the typical household income in Billings, which is $73,712 a year. For that payment to be 28% of income, a household would need to earn about $120,837 a year.

The calculator's FHA and conventional loan limits are those of all of Yellowstone County.

Your numbers

Local data
$

Starts at the typical home value in Billings. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,019 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,820

at 7.18% · 30 years

Loan amount
$337,180
Total interest
$485,123
Paid off in
November 2056

Includes $5,799 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,720 a month

  • Tight

    $1,720 to $2,211 a month

  • Hard

    more than $2,211 a month

    Your payment · 46%

Compared with the typical household income in Billings ($73,712 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,820
Principal & interest$2,284
Property tax$240
Home insurance$143
FHA mortgage insurance (MIP)$152

You need at least $12,019 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Billings and Yellowstone County

Billings is in Yellowstone County, Montana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Billings's own numbers

Typical home value
$343,400
Typical monthly rent
$1,138
Typical yearly household income
$73,712
Households that own their home
65%
Effective property tax rate
0.84%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Yellowstone County

FHA limit, one-unit home
$754,400
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,432
Price change over 5 years (FHFA)
+48%
Homes in a high flood-risk zone
1.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Yellowstone County.

Everything about Yellowstone County

Buying

Buying a home in Billings

A typical home in Billings is worth $343,400: about the same as the county and 9% below Montana. With the typical household income in Billings ($73,712 a year), a typical home costs 4.7 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Billings 4.7 years
  • Yellowstone 4.6 years
  • Montana 5.2 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Yellowstone County

According to FHFA’s house price index, home prices in Yellowstone County rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Yellowstone County.

Period County Montana U.S.
Last year (2025) +1.2% +2.3% +2.9%
5 years (2020–2025) +48% +62% +47%
10 years (2015–2025) +72% +105% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Billings next to Yellowstone County, Montana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Billings $343,400
  • Yellowstone $349,500
  • Montana $375,800
  • United States $332,700
Typical monthly rent
  • Billings $1,138
  • Yellowstone $1,131
  • Montana $1,081
  • United States $1,413
Typical yearly household income
  • Billings $73,712
  • Yellowstone $76,570
  • Montana $72,509
  • United States $80,734
See the full table
Billings next to Yellowstone County and Montana
Measure Billings Yellowstone County Montana U.S.
Typical home value $343,400 $349,500 $375,800 $332,700
Typical monthly rent $1,138 $1,131 $1,081 $1,413
Typical yearly household income $73,712 $76,570 $72,509 $80,734
Households that own their home 65% 70% 69% 65%
Typical yearly property tax $2,887 $2,832 $2,693 $3,119
Effective property tax rate 0.84% 0.81% 0.72% 0.94%
Renters with high rent for their income 49% 47% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Yellowstone County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Billings

For a typical $343,400 home in Billings, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Billings's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,820a month

    Least cash to close
    Down payment
    $12,019
    Cash to close
    $22,321
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $152

  • Conventional, 5% down $2,757a month

    Down payment
    $17,170
    Cash to close
    $27,472
    Rate
    7.18%
    Mortgage insurance
    PMI · $163

  • Conventional, 20% down, no PMI $2,245a month

    Down payment
    $68,680
    Cash to close
    $78,982
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,562a month

    Down payment
    $51,510
    Cash to close
    $61,812
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Billings and for Yellowstone County.

Property tax

Effective rate in Billings

0.84%of the home’s value each year

$2,887 a year for the typical owner in Billings.

  • Billings 0.84%
  • Yellowstone 0.81%
  • Montana 0.72%

What Montana publishes Homestead reduced tax rate for your principal residence (Montana Department of Revenue)

Exemptions and deadlines in Montana

Flood risk in Yellowstone County

FEMA does not publish these numbers by city: they are for all of Yellowstone County.

Homes in the high-risk zone
1.4%
876
Of those, with NFIP insurance
17%
County Montana U.S.
Homes in the high-risk zone 1.4% 2.6% 3.5%
Of those, with NFIP insurance 17% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Billings

Typical rent in Billings is $1,138 a month: about the same as the county. In Billings, 49% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Yellowstone County, by unit size. To pay the 2-bedroom one ($1,432 a month) without spending more than 30% of your income, you would need to earn $27.54 an hour working full time.

HUD fair market rent for all of Yellowstone County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,003 $19.29 $40,120
1 bedroom $1,132 $21.77 $45,280
2 bedrooms $1,432 $27.54 $57,280
3 bedrooms $1,983 $38.13 $79,320
4 bedrooms $2,261 $43.48 $90,440

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Billings

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Billings has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,360 in 59101 to $1,780 in 59106.

3 of the 4 are above the fair market rent for Yellowstone County ($1,432).

  • 59101 $1,360$1,880
  • 59102 $1,470$2,040
  • 59105 $1,630$2,260
  • 59106 $1,780$2,460

4 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Billings when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Billings

HUD lists 30 buildings with rents for lower incomes in Billings. These are the largest.

  • Billings 3007 9th Ave S, Billings 59101 216 low-income homes · Run by HomeFront · Average payment: $482 a month · Average wait: 65 months (406) 245-6391
  • Ponderosa Acres 1301 Industrial Ave, Billings 59101 120 low-income homes · For families (406) 245-3197
  • Shiloh Glen Apartments 3900 Olympic Blvd, Billings 59102 120 low-income homes · Studio: 20 · 1 bd: 26 · 2 bd: 56 · 3 bd: 18 · In service since 1994
  • Rose Park Plaza 2325 Avenue C, Billings 59102 112 low-income homes · 2 bd: 112 · In service since 2006 · For families (406) 652-1335
  • Prairie Tower Apartments 725 N 25th St, Billings 59101 109 homes, 108 low-income · For older adults (406) 248-3377

See all 32 buildings in Yellowstone County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Billings

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Yellowstone County; none says it serves in Spanish.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Billings

No down payment, repair or rent-help program on our list is for Billings or Yellowstone County. The ones below are statewide in Montana: they work in Billings the same as in the rest of the state.

Which programs do I qualify for? All programs in Montana

  • Bond Advantage Down Payment Assistance

    Statewide in Montana

    Montana Board of Housing loan for up to 5% of the price (maximum $15,000) for the down payment, over 15 years with low payments and the same rate as the bond program's first mortgage; there is also a Plus version, 0% and deferred, for lower incomes. Offered by Montana Board of Housing (Montana Department of Commerce).

    RepayableDeferred

    See the program Official page

  • Mortgage Credit Certificate (MCC)

    Statewide in Montana

    Montana Board of Housing certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, up to $2,000 a year, while you live in the home; for first-time buyers, with a loan that is not from another Board program. Offered by Montana Board of Housing (Montana Department of Commerce).

    Tax credit

    See the program Official page

Housing counselors near Billings

The HUD-approved agencies closest to the center of Billings, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • District 7 Human Resources Development Council

    3124 1st Ave N, Billings · 2 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (406) 206-2717

  • Human Resource Development Council of District Ix, Inc.

    32 S Tracy Ave, Bozeman · 120 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (406) 585-4895

  • Montana Legal Services Association

    616 Helena Ave., Helena · 176 miles away · Spanish

    Also serves in Arabic, American Sign Language (ASL), Cambodian, Cantonese, and 19 more languages.

    • Homelessness services
    • Rental counseling
    (800) 666-6899

Every agency in Yellowstone County All counseling agencies in Montana

Help in Spanish near Billings

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Billings

In HUD’s record, no housing authority with an office in Yellowstone County is named for Billings or Yellowstone County.

One other authority has an office in Yellowstone County: see the list Source: HUD

Cities

Other cities in Yellowstone County

These cities are also in Yellowstone County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Yellowstone County Housing in Montana

Nearby cities

The cities closest to Billings, with the typical home value.

Neighboring counties

If Yellowstone County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Billings.

All guides
Two parents walk hand in hand with their little daughter.

Questions

Housing questions about Billings

Short answers with the numbers for Billings and all of Yellowstone County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Billings?

The typical home value in Billings is $343,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Yellowstone County it is $349,500.

How much does it cost to rent in Billings?

Typical rent in Billings is $1,138 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Yellowstone County is $1,432.

What is the FHA loan limit in Billings?

Billings uses the FHA limit for all of Yellowstone County (2026): $754,400 for a one-unit home and $1,450,800 for a four-unit home.

How much property tax do owners pay in Billings?

The typical homeowner in Billings pays $2,887 a year, according to the U.S. Census Bureau. That is 0.84% of the home’s value; in Yellowstone County, the rate is 0.81%.

Where can I find free help to buy or rent in Billings?

There is 1 HUD-approved counseling agency with an office in Yellowstone County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).