Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$409,623+2.6% YoY · prices are rising
Market right nowBuyer's marketMore homes for sale than last year, 22% have cut their price
Income needed to buy, per year$88,798About 1.1× the local median income ($78,048): a stretch for a typical household
Days on market66 daysAbout the same pace as a year ago
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Billings, MT is worth $409,623, up 2.6% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $373,885, so the area is 9.6% overvalued. It is a buyer's market: homes take about 66 days to sell, listings are up 11% from a year ago, 22% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $88,798 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $78,048. Typical rent is $1,390 a month, or $1,873 for a house. In the latest IRS figures, 594 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$409,623
Change in 1 year
+2.6%
Overvalued %
+9.6%
Show 7 more
Fair home value
$373,885
Change in 5 years
+26.8%
Zillow forecast, next 12 months
+2.6%
Home value to income
5.2×
Monthly mortgage payment (20% down)
$2,220
Income needed to afford it
$88,798
Property tax rate
0.78%
Rent and investing
Typical rent
$1,390
Typical rent for houses
$1,873
Price-to-rent ratio
24.6×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,424
Gross rental yield
4.07%
Cap rate (estimate)
2.65%
Market activity
Listings vs a year ago
+11.3%
Days on market
66
Listings with a price cut
22.0%
Show 3 more
Homes for sale
888
Pending sales per 100 listings
26
Asking price per sq ft
$229
People and jobs
Median household income
$78,048
Population change (1 year)
+0.6%
Unemployment rate
3.4%
Show 4 more
Population
193,603
Income adjusted for cost of living
$83,474
Net moves in (IRS)
+594
Cost of living (US = 100)
93.5
Schools, risk and environment
School rating (1 to 10)
5.1
FEMA hazard risk score (0 to 100)
78.9
Unhealthy air days a year
0
Show 4 more
Flood risk score
81.4
Wildfire risk score
93.1
Walkability (1 to 20)
7.4
Road, rail and air noise
52 dB
Questions people ask
Is Billings, MT overvalued?
Home prices in Billings, MT are slightly above what local incomes have historically supported: fair value is about $373,885, so the area is 9.6% overvalued.
Is Billings, MT a buyer's or seller's market?
Billings, MT is a buyer's market: homes take about 66 days to sell, listings are up 11% from a year ago, 22% of listings have had a price cut.
Are home prices going down in Billings, MT?
Home values in Billings, MT are up 2.6% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Billings, MT?
A household needs about $88,798 a year to afford the typical home in Billings, MT at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $78,048.