Cost of Living in Billings, Montana
In Billings, the median household income is $73,712 and the median gross rent is $1,138/mo, with a median home value of $343,400. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $73,712
- Median gross rent
- $1,138/mo
- Median home value
- $343,400
- Population
- 119,434
How Billings compares to the Montana average
| Measure | Billings, MT | Montana statewide | Difference |
|---|---|---|---|
| Median household income | $73,712 | $72,509 | +1.7% |
| Median gross rent (monthly) | $1,138 | $1,081 | +5.3% |
| Median home value | $343,400 | $375,800 | -8.6% |
Statewide, Montana prices average 94.6 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Billings
- Salary needed for median rent
- $45,520
- Rent burden at median income
- 18.5%
- Est. affordable home price
- $268,897
So that $1,138/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Billings is $343,400 — +27.7% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.