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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 109,642 people, 44,713 houses or apartments, and a median cost of homes of $208,909, 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 61.60% of the city's housing units. Other types of housing that are prevalent in Billings include large apartment complexes or high rise apartments ( 13.97%), duplexes, homes converted to apartments or other small apartment buildings ( 11.59%), and a few mobile homes or trailers ( 6.79%).
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 60.94% owning and 39.06% 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 ( 31.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.70%). There's also some housing in Billings built before 1939 ( 8.22%).
Appreciation rates for homes in Billings have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 20.45%, which ranks in the top 40% nationwide. This equates to an annual average Billings house appreciation rate of 1.88%.
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 0.68%, 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 -0.67%, which equates to an annual appreciation rate of -2.66%.
Notably, Billings's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Montana, our data show that Billings's latest annual appreciation rate is lower than 90% 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.
|$844,001 - $1,126,000||0.4|
|$563,001 - $844,000||2.1|
|$450,001 - $563,000||2.5|
|$338,001 - $450,000||7.5|
|$225,001 - $338,000||30.9|
|$113,001 - $225,000||43.8|
|$56,001 - $113,000||5.4|
|$0 - $56,000||6.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q2 - 2018 Q3
Last 12 Months:
2017 Q3 - 2018 Q3
Last 2 Years:
2016 Q3 - 2018 Q3
Last 5 Years:
2013 Q3 - 2018 Q3
Last 10 Years:
2008 Q3 - 2018 Q3
2000 Q1 - 2018 Q3
|* 10 is highest|
|AGE OF Billings HOMES|
|2000 or Newer||16.7|
|1970 - 1999||43.2|
|1940 - 1969||31.9|
|1939 or Older||8.2|
|TYPE OF Billings HOMES|
|Small Apt. Buildings||11.6|
|SIZE OF Billings HOMES|
|5 or more bedrooms||9.34|