Billings, MT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Billings Neighborhoods Since 2000




Billings, MT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Billings Housing Market Information

With 110,263 people, 44,092 houses or apartments, and a median cost of homes of $202,168, Billings real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Billings, accounting for 61.19% of the city's housing units. Other types of housing that are prevalent in Billings include large apartment complexes or high rise apartments ( 14.27%), duplexes, homes converted to apartments or other small apartment buildings ( 11.72%), and a few mobile homes or trailers ( 6.64%).

The most prevalent building size and type in Billings are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.96% owning and 39.04% renting.

There is a lot of housing in Billings built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Billings built between 1940-1969 ( 32.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.34%). There's also some housing in Billings built before 1939 ( 8.39%).

Billings Home Appreciation Rates

In the last 10 years, Billings has experienced some of the highest home appreciation rates of any community in the nation. Billings real estate appreciated 19.56% over the last ten years, which is an average annual home appreciation rate of 1.80%, putting Billings in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Billings definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Billings appreciation rates have trailed the rest of the nation. In the last twelve months, Billings's appreciation rate has been 2.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Billings were at 1.55%, which equates to an annual appreciation rate of 6.35%.

Relative to Montana, our data show that Billings's latest annual appreciation rate is lower than 80% of the other cities and towns in Montana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Billings differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Billings - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Billings real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$202,168

Billings, MT HOME PRICES

Value Range
> $1,134,000 0.5
$850,001 - $1,134,000 0.4
$567,001 - $850,000 1.9
$453,001 - $567,000 2.3
$340,001 - $453,000 6.8
$227,001 - $340,000 28.2
$113,001 - $227,000 46.8
$57,001 - $113,000 6.1
$0 - $57,000 6.9

Average for MT
High for Nation

Value Relative to Nation Value Relative to State
32.9000526962937 44.53125

Number Of Homes And Apartments:
44,092

Billings Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MT*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
86.65% 3.63% 5 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$961 / per month

Homeownership Rate

Homeownership
Owners 60.96
Renters 39.04
Vacant 6.27

Housing Market Details

 

Age of Homes

AGE OF Billings HOMES
2000 or Newer 16.3
1970 - 1999 43.1
1940 - 1969 32.1
1939 or Older 8.4

Types of Homes

TYPE OF Billings HOMES
Single-Family 61.2
Townhomes 6.1
Small Apt. Buildings 11.7
Apt. Complexes 14.3
Mobile Homes 6.6
Other 0.1

Home Size

SIZE OF Billings HOMES
No Bedroom 1.67
1 Bedroom 11.06
2 Bedrooms 27.80
3 Bedrooms 30.59
4 Bedrooms 20.00
5 or more bedrooms 8.89