Quick facts: Billings, MT

Quick Facts

104.7
Cost of Living
above US average
119,960
Population
51.54
Crime Rate per 1000
above US average
$69,692
Median Income
below US average
$299,900
Median House Price
above US average
$1622.46
Average Rent
above US average
10%
Poverty Rate
below US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $69,692.

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Income Needed to Buy

βœ— Stretch
$94k/year
Based on $299,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $94k vs median $69,692
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Income Needed to Rent

βœ“ Affordable
$70k/year
Based on $1622.46/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($69,692) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Billings, MT

Billings is the largest city in Montana and serves as a significant economic, cultural, and transportation hub for the region. Located in the south-central part of the state, it lies along the Yellowstone River and is surrounded by picturesque landscapes, including the Rimrocks, a series of sandstone cliffs that offer stunning views of the city and the surrounding areas. The city has a vibrant community with a mix of outdoor and urban activities. Billings boasts numerous parks, recreational areas, and trails, making it an excellent destination for hiking, biking, and fishing. The nearby Billings Heights and other natural attractions provide ample opportunities for outdoor enthusiasts. Billings has a diverse economy, with key sectors including healthcare, education, and retail. They host organizations like Billings Clinic and St. Vincent Healthcare, known for their medical services. The city also features a range of cultural institutions, such as the Yellowstone Art Museum and the Alberta Bair Theater, which host various performances and exhibits throughout the year. With a population of around 120,000, Billings maintains a friendly, small-town atmosphere while offering the amenities of a larger city, including shopping, dining, and events. Its rich history, western heritage, and proximity to attractions like Yellowstone National Park and Little Bighorn Battlefield make it a unique and appealing place to explore.

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