Cost of Living in Billings, MT
Cost of Living in Billings, MT has an overall index of 98, 2% below the U.S. baseline of 100. The typical home value is $311,800; typical monthly rent is $1,383; and median household income is $71,855.
Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Zillow ZORI market signal as of 2026-02. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Billings
Living in Billings
What is the cost of living like in Billings, MT?+
Living costs in Billings land close to the national average, with a Cost Index of 98 (where 100 = the US baseline). Housing is the largest variable: the median home value here is $311,800, and typical monthly rents are $1,383. Groceries and utilities are slightly below what you would find in most US cities.
How does Billings fit a household housing budget?+
Start with housing. Typical monthly rent is $1,383, while local median household income is $71,855. That implies a rent-burden proxy of about 23% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Billings, MT?+
Montana uses an approximate state-income-tax planning model; 5.9% is top marginal-rate context from the tax snapshot. Applying the 0.74% state-level effective owner-occupied proxy to a home worth $311,800 gives a planning estimate near $2,307 per year; it is not a city, county, parcel, or individual tax bill. The snapshot reports no state sales tax.
How much does it cost to rent in Billings, MT?+
The typical monthly rent in Billings is around $1,383. That's close to the $1,348 national median. For comparison, the median home value here is $311,800, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Billings, MT?+
The typical home value in Billings is $311,800. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $1,513/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 65% of residents here own their homes.
Are groceries and utilities expensive in Billings?+
Grocery prices in Billings are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 72). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Billings, MT like to live in?+
Billings is a mid-sized city with a population of about 118,321. The median age of residents is 38.1, which is close to the national median. The local poverty rate is 10.61%, near the national average of 12.4%.