Investment metrics, interactive calculators, and data-driven analysis for Billings rental properties.
Pre-filled with Billings medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Billings.
Billings, MT has a population of 121,000 and has been growing at 1% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $340,000 paired with median rents of $1,380/mo produces an estimated cap rate of 3.10%.
Property taxes at 0.74% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 4.8% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.
At a price-to-income ratio of 6.0x, homes cost about 6.0 times the local median income of $56,800. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 2.6% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Billings is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.