Billings, Montana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Billings, Montana rental market.
Billings, Montana
Average Apartment Rent
$1,492
Y-o-Y Change in Average
Apartment Rent
5.1%
As of March 2026
Compared to a year ago, Billings, Montana apartments have recorded a 5.1% rent increase.
Billings, Montana Average apartment rent trend
Billings, Montana Average Apartment Rent
Billings, Montana Apartment rent ranges
At 52.57%, apartments priced $1,000 - $1,500 represent the bulk of Billings, Montana rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 0.6%.
Billings, Montana Housing tenure**
Renters take up 35% of Billings, Montana real estate, occupying a total of 17,330 units, while homeowners live in 31,898 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$43,396
Average household size of renter-occupied housing units**
1.97
Rental vacancy rate**
5.8%
Billings, Montana Renter-occupied housing units by no. of bedrooms**
There are 7,328 rentals in Billings, Montana with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 416 units. Overall, the median number of rooms in Billings, Montana homes for rent is 4.1.
Billings, Montana Renter-occupied units by age of householder**
Most condos for rent in Billings, Montana are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (17%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 5%.
Billings, Montana Renter-occupied housing units by family type**
Billings, Montana Renter-occupied housing units by the presence of own children**
A total of 6,322 apartments for rent in Billings, Montana, or 36% of all rentals are family households. Additionally, 22% of rental homes include children under the age of 18 – that’s 3,866 units. All in all, the median size of a renter-occupied household in Billings, Montana is 1.97.
Billings, Montana Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 27% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Billings, Montana.
Billings, Montana Renter-occupied units by year structure built**
The highest share of Billings, Montana apartment rentals, namely 19% or 3,216 units, were Built 1970 - 1979, followed by those Built 2010 - 2019 (16%, 2,792 units), and the ones Built 1980 - 1989 (12%, 2,044 units).
Billings, Montana Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Billings, Montana renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Billings, Montana condos for rent is 2018.
Billings, Montana Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Billings, Montana renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 12% have No vehicle available.
Billings, Montana Means of transportation to work of householders living in renter-occupied housing units**
Billings, Montana Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Billings, Montana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
