Rents are 3% below what Billings's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,437 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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Who lives here
Billings, MT is majority owner-occupied, 36.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Billings, MT has changed in 5 years
The median rent in Billings, MT stood at $1,052 in 2021 and currently runs about $1,437, reflecting a 36.6% increase over the period. Household income in the area moved from $63,608 to $73,712 across the same window, up 15.9% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 3.2% since 2021, moving from about 115,689 residents to roughly 119,434. Reading these numbers side by side helps frame whether current listings in Billings, MT look reasonable against where the market sat half a decade ago.
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Can you afford rent in Billings on your salary?
At $1,437/mo, how Billings rent compares to typical pay (30% rule).
Billings rent by bedroom count
Median rent for each apartment size in Billings. Click any size for full breakdown.
Tips for renters in Billings
Last updated: August 17, 2026
The median rent in Billings is $1,437/mo as of August 2026. A studio apartment averages $1,070/mo while a 2-bedroom runs $1,453/mo. One-bedroom apartments average $1,125/mo and 3-bedroom units go for $1,998/mo.
At 23% of local median household income ($73,712/yr), Billings ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.4% over the past year.
Frequently asked questions
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What percentage of Billings residents rent vs. own?
How does Billings rent compare to the national average?
At $1,437/mo, rent takes ~23% of Billings's median household income ($73,712/yr). The standard benchmark is 30%.
How does this area stack up?
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Estimated from ZIP-level data
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