Montana · Population 118,321 · Updated March 2026
How far your income goes in Billings
State-level tax rates that affect your costs
Billings offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 86 (where 100 equals the national median), Billings residents can expect to pay median rent of $1,097/month while earning a median household income of $71,855/year.
The median home value in Billings, MT is $311,800, with typical monthly owner costs around $1,177 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
Montana has a moderate income tax rate of 6.75%. Combined with a 0% sales tax rate and 0.74% effective property tax rate, the overall tax environment is a factor in the total cost of living in Billings.
Common questions about living costs in Billings
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