Billings, MT — Momentum Score, Home Values & Best-For

All states·Montana·Billings

Yellowstone County · Billings · population 121,483

Billings, MT
Image: Wikipedia · Billings, Montana
OverviewCost of livingMoving guide
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69
Rising
Momentum score · 0–100

Where Billings stands

At or near all-time high.

Median home $398,212
1-year +1.9%
5-yr CAGR +6.2%
vs 5-yr peak +0.0%
Population +0.9%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-04$398k$215k$281k$348k$414k201620182020202220242026

Lifestyle scores

🚶
Walkability
40/100
Car-dependent
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
30/100
Minimal transit
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
90/100
Excellent for remote work
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$1,442/mo$1,003$1,266$1,528202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent135135100120140202220242026

Rent vs buy

Price-to-rent ratio: 23.0
Lean rent

At a 23.0 price-to-rent ratio, the math is starting to lean toward renting in Billings. Owner-occupier ROI requires longer holds and the assumption that prices keep appreciating roughly at the rate of rent.

How the momentum score breaks down

methodology →
Home YoY
59 · w22%
Home 5-yr CAGR
71 · w22%
Distance from peak
90 · w18%
Population growth
63 · w16%
Rent YoY
68 · w12%
Home 10-yr CAGR
63 · w10%
Long thesis

Billings has held up across the cycle: home values at $398,212 with +6.2% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Billings's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.

About Billings

Billings is a city in Yellowstone County, Montana, with an estimated population of 121,483. The population grew 0.9% annually from 2020 to 2024, a moderate gain. The median home value in Billings is $398,212 as of 2026-04, up 1.9% over the last 12 months. Over the last five years, home values have averaged +6.2% annual growth, with prices at or near the 5-year peak. Rents in Billings average $1,442 per month, up 3.5% year-over-year. The composite momentum score is 69 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Healthy 5-year run: +6.2% annualized over 5 years, outpacing US inflation.
●Held the highs: currently +0.0% from the 5-year peak — this market refused to give back gains.

▼ Bear case

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Billings (Wikipedia)

Billings is the most populous city in the U.S. state of Montana. The population was 117,116 at the 2020 census, while the Billings metropolitan area has an estimated 193,000 people. Located in the south-central portion of the state, it is the seat of Yellowstone County. Billings is the trade and distribution center for much of Montana east of the Continental Divide and has one of the largest trade areas in the United States. It is also the largest retail destination for much of the same area. The Billings Chamber of Commerce claims the area of commerce covers more than 125,000 square miles (320,000 km2).

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorChris Kukulski
Area45.39 sq mi
Elevation3212 ft
Founded1877
Density2586.08/sq mi
Named forFrederick H. Billings

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Yellowstone County right now.

NWS active alerts (MT)Montana Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Yellowstone County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Billings

12 tracked · ranked by median home value
1West Alkali Creek$597,651+2.2%
2Blue Creek$495,350+5.0%
3West End$441,883-0.5%
4North Central$416,426+1.4%
5Heights$408,221+2.8%
6Highlands$382,835+4.0%
7Lockwood$379,836+3.5%
8North Elevation$370,439+2.2%
9Central-Terry$324,989+1.1%
10Southwest Corridor$324,717+1.6%
11North Park$256,039+0.6%
12Southside$249,339+6.7%

Cities like Billings

Missoula, MT71 · RisingHelena, MT75 · RisingLaurel, MT65 · RisingGreat Falls, MT74 · Rising

Run the numbers for Billings

ToolCan I afford Billings?Income → city shortlistToolROI on a Billings rentalCap rate, cash-on-cash, DSCRToolCompare Billings to anywhereSide-by-side up to 3 citiesToolBillings cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
33° / 14°
avg high / low
Summer (Jul)
84° / 53°
avg high / low
Sunny days/yr
196
~54% of year
Annual precip
15″ rain
48″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Very low
Tornado
Very low
Wildfire
Very high
Earthquake
Moderate
Flood
Low

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Billings listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local sports teams

Major professional teams the Billings area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Local economy & environment

Humidity
60%
Moderate climate
Median household income
$70,800
Montana state median
Top industries (state-level)
TourismMiningAgriculture

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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