Billings, MT Rental Market
Billings is Montana's largest city and the commercial and healthcare hub for a vast region spanning eastern Montana and northern Wyoming, earning its title as "The Magic City" through its role as the energy, agricultural, and logistics capital of the Northern Plains. Billings Clinic and St. Vincent Healthcare are among the region's largest employers, and the city's position as a major oil and gas service hub for the Bakken formation adds a cyclical but high-paying employment sector that drives rental demand during energy upswings.
Get a rent estimate for an address in BillingsAverage Rent in Billings, MT
$1,220
per month · 2026-06
Market Score
Key Facts — Billings, MT Rental Market
- Average rent in Billings, MT:$1,220/mo
- Median rent:$1,122/mo
- Rent range:$600 – $2,700/mo
- Most common rental (2 bedrooms):$1,075/mo
- Active listings:620
- Avg days to lease:33 days
- Year-over-year change:+3.5%
- Median home value:$280,000
- Est. gross annual yield:5.2%
- Data as of:2026-06
Rent by Bedroom in Billings, MT
Average monthly rent for each bedroom type based on current active listings in Billings.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $875/mo |
2 Bedrooms | $1,075/mo |
3 Bedrooms | $1,375/mo |
4 Bedrooms | $1,675/mo |
5 Bedrooms | $1,925/mo |
Billings Rental Market Statistics
Key indicators from the current Billings, MT rental market.
620
Available now in Billings
33
From list to lease
$0.98
Average across listings
1,250 sq ft
Typical rental size
$600 – $2,700
Min to max active listings
+3.5%
Avg rent vs. prior year
Investing in Billings, MT Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$280,000
Typical purchase price in Billings
Est. Gross Annual Yield
5.2%
Before expenses & vacancy
Avg Monthly Income
$1,220
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Billings for a full cash-flow breakdown including all costs.
Billings, MT Rental Market FAQ
Common questions about renting and investing in Billings, MT.
What is the average rent in Billings, MT?
The average rent in Billings, MT is $1,220 per month as of 2026. One-bedroom apartments average $875/mo, two-bedrooms average $1,075/mo, and three-bedroom homes average $1,375/mo. The Heights, West End, and South Side neighborhoods near Billings Clinic and St. Vincent Hospital see the most consistent demand, while the Billings Bench offers views and slightly higher rents.
Is Billings, MT a good place to invest in rental property?
Billings offers a 5.2% estimated gross yield on a $280,000 median home value. As Montana's largest city and the regional hub for an area stretching hundreds of miles in every direction, Billings benefits from unusually stable employment diversity — healthcare, energy, agriculture, retail, and logistics — that makes it more recession-resistant than single-industry Montana markets. Steady 3.5% rent growth supports consistent returns.
How competitive is the Billings, MT rental market?
Billings has approximately 620 active listings and averages 33 days on market. Healthcare workers at Billings Clinic and St. Vincent, oil and gas service company employees, and regional retail/logistics workers form the primary tenant base. Properties near the medical district and in the well-established West End move fastest, while the Heights offers more affordable options with mountain views that attract outdoor-oriented tenants.
Ready to Analyze a Property in Billings?
Get an instant rent estimate, cash-flow projection, and comparable rentals for any address in Billings, MT.
Analyze Now — It's Free