Mortgage Affordability Calculator for Billings, MT
Updated 2026 · Local data pre-filled
In Billings, the median household income is $62,400 per year, while the median home costs $335,000. The price-to-income ratio is 5.4x — a stretch in this competitive market. Use this calculator to determine what you can comfortably afford based on your income.
✓ Calculator below is pre-filled with Billings local data
How Billings Compares to the National Average
Understanding how Billings stacks up helps you calibrate your financial planning.
| Metric | Billings, MT | US Average | Difference |
|---|---|---|---|
| Median Home Price | $335,000 | $420,800 | -20.4% |
| Median Monthly Rent | $1,150 | $1,713 | -32.9% |
| Median Household Income | $62,400 | $74,580 | -16.3% |
| Property Tax Rate | 0.83% | 1.10% | -24.5% |
| Cost of Living Index | 96 | 100 | -4.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Billings Financial Snapshot
- Population (Metro)
- 185,000
- Unemployment
- 3.0%
- Avg Commute
- 17 min
- Median Age
- 36.6
- Price-to-Rent Ratio
- 24.3x
- Annual Property Tax
- $2,781
Frequently Asked Questions — Billings
What is the median home price in Billings, MT?
The median home price in Billings is $335,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Billings?
Median monthly rent in Billings is $1,150. That works out to $13,800/year, or 22% of the median household income — within the commonly recommended 30% of income guideline.
Is Billings affordable?
Billings's cost of living index is 96 vs. the national average of 100. With a median household income of $62,400/year and a median home price of $335,000, the price-to-income ratio is 5.4x. Billings falls in the middle of the affordability spectrum for US cities.
What is the property tax rate in Billings?
The effective property tax rate in Billings is 0.83% of assessed value. On the median home of $335,000, that's roughly $2,781/year ($232/month).