Billings housing market
Typical home value
$410K
▲ 2.6% 1 yr
Typical rent
$1,390/mo
▲ 3.7% 1 yr
12-month forecast
+2.6%
#185 of 546 metros
Gross rent yield
4.1%
#504 of 546 · U.S. 6.3%
Days to pending
54 days
▲ +1 day 1 yr
Listings with a price cut
28%
▲ +0.4 pts 1 yr
Key takeaways
- 1The typical home is worth $409,623, up 2.6% in a year and up 27% over five years.
- 2Zillow forecasts home values rising 2.6% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,390/mo (+3.7% YoY), a 4.1% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $2,251/mo in principal and interest, $861 more than renting.
- 5Homes go under contract in 54 days (+1 day vs last year); 28% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 41/100, #262 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Billings compares
| Measure | Billings | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +2.6% | +1.2% | #245 |
| Home value, 5-yr change | +26.8% | +19.7% | |
| 12-month forecast | +2.6% | +1.1% | #185 |
| Rent, 1-yr change | +3.7% | +2.7% | #234 |
| Gross rent yield | 4.1% | 6.3% | #504 |
| Price-to-rent ratio | 24.6 | 15.8 | |
| Mortgage P&I on typical home | $2,251 | $2,012 | |
| Income needed to buy | $104,587 | $100,902 | |
| Days to pending | 54 | 56 |
Cities in the Billings metro
1 cities with home value and rent data.
| Billings | $401K | ▲ 2.4% | $1,393 | ▲ 3.6% | 4.2% |
Run the numbers
Rental property calculator
Cash flow on a typical Billings rental ($410K, $1,390/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Billings home.
Rent vs buy
Is it cheaper to rent or buy in Billings?
Other Montana metros
Missoula, MT
$570K home$1,622 rent3.4% yield
▲ 1.3% 1 yr
Bozeman, MT
$698K home$2,201 rent3.8% yield
▲ 1.1% 1 yr
Kalispell, MT
$646K home$2,025 rent3.8% yield
▲ 2.0% 1 yr
Great Falls, MT
$340K home$1,428 rent5.0% yield
▲ 2.7% 1 yr
Helena, MT
$473K home$1,646 rent4.2% yield
▲ 3.0% 1 yr
Butte, MT
$286K home$1,443 rent6.0% yield
▲ 3.1% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.