Cost of Living in Billings, MT

Population 118,321 · Montana · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

The Billings cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $312,000, rents near $1,097 a month.

Cost Overview

Housing 102

Rent 83

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Billings

The median home value in Billings is $311,800 — 2% above the national median of $305,000. Median rent runs $1,097/month, 17% lower than the national median of $1,314/month. The median household income of $71,855/year is 4% lower than the US median of $74,580. The local unemployment rate is 3.5%, below the national average of 4.8%. Montana's top state income tax rate is 6.8% and the combined sales tax is 0.0%. The climate averages highs of 59.4°F and lows of 37.0°F, with about 57.4" of annual snowfall. Overall, Billings has a cost of living index of 95 versus the US average of 100, meaning it is 5% less expensive.

🏠 Housing

Median Home Value

$311,800

2% above avg

Zillow Home Value

$390,654

Zillow ZHVI

Median Rent

$1,097/mo

17% below avg

Zillow Rent

$1,382/mo

Zillow ZORI

Price-to-Rent Ratio

23.7x

Favors renting

Property Tax Rate

0.8%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$930

1 BR

$1,018

2 BR

$1,266

3 BR

$1,671

4 BR

$1,925

Owner-occupied 64.8%

Renter-occupied 35.2%

💰 Estimated Monthly Budget

Rent median rent

$1,097

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,711/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

18.1 min

33% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

7.6%

Commute Mode

Drove alone

78.5%

Carpooled

9.1%

Public transit

0.9%

Walked

2.0%

Bicycle

0.7%

Work from home

7.6%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax 6.8%

Total Sales Tax 0.0%

State rate 0.0%

Avg local rate 0.0%

Property Tax 0.8%

💼 Income & Employment

Median Household Income

$71,855

4% below avg

Per Capita Income

$42,639

Unemployment Rate

3.5%

28% below avg

Poverty Rate

10.6%

Labor Force Participation

66.2%

🎓 Education

Bachelor's degree+ 24.9%

Graduate degree 12.1%

👥 Demographics

Median Age 38.1

Male median age 37.3

Female median age 38.9

🌤 Climate

NOAA 1991–2020 Climate Normals

Avg High

59.4°F

Avg Low

37.0°F

Annual Precip

14.3"

Annual Snowfall

57.4"

Month	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
High °F	36	39	49	57	67	77	87	86	74	59	46	36
Low °F	18	20	27	35	44	52	59	58	49	37	27	19
Precip"	0.55	0.57	0.90	1.72	2.36	2.22	1.22	0.87	1.36	1.37	0.60	0.57
Snow"	10.6	9.1	8.2	7.5	0.9	0.0	0.0	0.0	0.3	4.5	6.5	9.8

💨 Air Quality

EPA AQS 2023 — county-level monitoring data

Median AQI 29 — Good

85.7%

Good air days/yr

191

Max AQI recorded

357

PM2.5 days

Ozone days

🏫 Schools

NCES CCD 2019 — public school district data

81%

4-Year Graduation Rate

15.6:1

Student-teacher ratio

Public schools

18,961

Total enrollment

Frequently Asked Questions

What is the cost of living in Billings, MT?

Billings has a cost index of 95 (100 = national average). It is 5% below the national average.

What is average rent in Billings, MT?

The median gross rent in Billings is $1,097 per month based on 2023 Census data.

What is the average home price in Billings?

The median home value in Billings is $311,800 according to Zillow and Census data.

What is the median income in Billings?

The median household income in Billings is $71,855 per year (2023 ACS 5-year estimates).

What is the sales tax in Billings, MT?

The combined state and local sales tax rate in Billings is 0.0%. The Montana state income tax top rate is 6.8%.

Is Billings, MT affordable?

Billings is near the national average in terms of cost of living, with an index of 95 (100 = US average).

What is the weather like in Billings?

Billings has average high temperatures of 59.4°F and average lows of 37.0°F. Annual precipitation is 14.3". Average annual snowfall is 57.4". Data from NOAA 1991–2020 Climate Normals.

Billings at a Glance

Population: 118,321
Median Income: $71,855
Home Value: $311,800
Median Rent: $1,097/mo
Unemployment: 3.5%
Avg High Temp: 59.4°F
Sales Tax: 0.0%

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