The typical home in Billings, MT is worth about $370,000.
With 20% down that's a loan near $296,000 — the calculator
is pre-filled with that figure. As Montana's largest city, Billings serves as the commercial and medical hub for a vast surrounding rural area, with an oil-and-agriculture-linked economy that has kept price swings milder than Montana's mountain resort towns. The state's lack of a sales tax and below-average property tax rate are common draws for buyers relocating from higher-tax states.
$1,921.82 / month
Total interest
$395,854
Total paid
$691,854
Payoff
30.0 years
How much you need to earn
Billings, MT's median household income is about
$68,000 a year. Under standard 28/36
lending rules that supports a home price around
$253,434 with 20% down —
below the $370,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Billings, MT is about $1,350 a month, so owning the median home costs roughly
$993 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Billings, MT?
On the metro's roughly $370,000 typical home with 20% down, the loan is about $296,000. Principal and interest run near $1,922 a month at today's rate, and Billings, MT's property tax plus insurance add about $422, for a full payment near $2,343.
Can I afford a home in Billings, MT on the median income?
The median household income is about $68,000 a year. Under standard 28/36 lending rules that supports a home price around $253,434 with 20% down — below the $370,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Billings, MT?
Typical asking rent is about $1,350 a month. The full owner payment on a median home is near $2,343, so owning costs roughly $993 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Billings, MT?
The effective property tax rate in the core county is about 0.80% of market value — roughly $2,960 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Billings, MT rising or falling?
Home values are up about 3% over the past year. As Montana's largest city, Billings serves as the commercial and medical hub for a vast surrounding rural area, with an oil-and-agriculture-linked economy that has kept price swings milder than Montana's mountain resort towns. The state's lack of a sales tax and below-average property tax rate are common draws for buyers relocating from higher-tax states.