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City Report · MT

Billings

Pop. 119,434·7th most expensive in Montana·Billings rents are up 7.4% over the past year
Median rent (all units)
$1,458/mo
Year-over-Year
+7.4%
Month-over-Month
+0.2%
vs US Median
-$507
Stable (Monthly)
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Most AffordableMost Expensive
Billings · $1,458
More affordable than 78% of US cities · National median $1,965/mo
Rent Reality Score
52/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Billings's 10-year trend predicts.

Actual rent
$1,458/mo
Expected by trend
$1,476/mo
The Rent Reality Score compares today's median rent to where Billings's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,070
1 BR
$1,125
2 BR
$1,453
3 BR
$1,998
4 BR+
$2,248
Research median
$1,453/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,496/yr
At $1,458/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.4% YoY, +0.2% MoM), not inventory.
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Demographics

Who lives here

Billings, MT is majority owner-occupied, 36.9% of residents hold a bachelor's degree or higher.

Population
119,434
Median income
$73,712
Median age
38.8
Renters
35.2%
Age distribution
22%
23.2%
24.4%
18.8%
Under 1822%
18–3423.2%
35–5424.4%
55–6411.6%
65+18.8%
Gender
49.8%
50.2%
Male49.8%
Female50.2%
Race & ethnicity
84.8%
White84.8%
Black0.7%
Hispanic7.4%
Asian0.9%
Other6.2%
Education (25+)
27.5%
31.1%
36.9%
No HS diploma4.5%
HS diploma27.5%
Some college31.1%
Bachelor's+36.9%
Housing tenure
64.8%
35.2%
Owner64.8%
Renter35.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Billings, MT has changed in 5 years

Rent
$1,052 → $1,458
up 38.6%
Income
$63,608 → $73,712
up 15.9%
Population
115,689 → 119,434
up 3.2%
Renter share
35.5% → 35.2%
-0.3 pts
Bachelor's+
36.6% → 36.9%
+0.3 pts
Median age
37.6 → 38.8
+1.2 yrs

The median rent in Billings, MT stood at $1,052 in 2021 and currently runs about $1,458, reflecting a 38.6% 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.

Community

Discussions about Billings

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View Billings rent history (2015–2026) →
Salary vs rent

Can you afford rent in Billings on your salary?

At $1,458/mo, how Billings rent compares to typical pay (30% rule).

By apartment size

Billings rent by bedroom count

Median rent for each apartment size in Billings. Click any size for full breakdown.

Local insights

Tips for renters in Billings

About renting in Billings, MT

Last updated: July 20, 2026

The median rent in Billings is $1,458/mo as of July 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 24% of local median household income ($73,712/yr), Billings ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.4% over the past year.

FAQ

Frequently asked questions

Is Billings an affordable city for renters?

Billings is considered very affordable for renters. At $1,458/mo, rent takes approximately 24% of the local median household income ($73,712/yr). The standard benchmark is 30%. Billings falls comfortably within that range.

How much income do you need to rent in Billings?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (~$28/hour full-time) to afford the median rent of $1,458/mo in Billings. The local median household income is $73,712/yr, meaning the typical Billings household meets that threshold.

Is rent going up or down in Billings?

Rent in Billings has increased 7.4% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Billings neighborhoods have the lowest rent?

The most affordable ZIP codes in Billings are 59101 ($1,244/mo), 59105 ($1,326/mo), and 59102 ($1,445/mo). Citywide, the median rent in Billings is $1,458/mo.

How does Billings rent compare to other cities in Montana?

Billings is middle-of-the-pack for Montana for rent, ranking #7 out of 11 tracked cities at $1,458/mo.

Which nearby cities are cheaper to rent in than Billings?

Several nearby cities have lower median rents than Billings ($1,458/mo): Laurel ($1,286/mo), Cody ($1,431/mo).

What percentage of Billings residents rent vs. own?

According to Census data, approximately 35.2% of Billings households are renters, while 64.8% are owner-occupied. Billings leans toward homeownership, which can mean a smaller rental inventory.

How does Billings rent compare to the national average?

Billings's median rent of $1,458/mo is $507 (26%) below the US national median of $1,965/mo. Within Montana, it ranks #7 out of 11 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $1,458/mo, rent takes ~24% of Billings's median household income ($73,712/yr). The standard benchmark is 30%.

Billings 24%Benchmark 30%
State income tax4.7%
Run the Billings affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Billings, MT

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