Investor-grade market analytics for Billings, Montana. Data from Zillow ZHVI, FRED, Census ACS, and FEMA NRI. Data through August 2026.
$409,829
+2.7% year-over-year
4.2%
gross annual
+2.7%
base case (Zillow ZHVF)
+2.7% year-over-year
28/100
LowNet migration: Top 15% nationally
In-migrants avg $63,509 AGI vs out-migrants $63,342
Opportunity Zone Market
4 ZIP codes in Billings are designated Qualified Opportunity Zones (IRC 1400Z-2), eligible for capital gains tax deferral on qualifying investments. Learn more →
Billings, MT shows steady growth at 2.7% year-over-year appreciation, reflecting balanced market conditions with moderate demand. Affordability is moderately stretched with a price-to-income ratio of 5.49x, above the national average of 4.8x. Modest net positive migration (+316 returns/year) provides steady demand support. Climate risk remains low (28/100), favorable for long-term investment stability. Rental yield of 4.18% is moderate, offering acceptable cash flow for leveraged investments.
12-month projection (Zillow ZHVF model)
Billings, MT's primary climate exposure is wildfire (42/100). The composite climate risk score of 28/100 (Low) indicates overall risk reflecting favorable conditions for long-term real estate investment. This market benefits from relatively low natural hazard exposure compared to coastal and wildfire-prone regions.
Source: FEMA National Risk Index
Migration flows, ZIP-level neighborhood data, full demographics, price history, and the Market Screener.