Cost of Living in Billings, MT

Cost of Living in Billings, MT: A Detailed Overview

With a median household income of $57,803, residents of Billings, MT earn $16,777 less than the national median of $74,580. What makes that figure meaningful is the local cost context: Billings's cost of living index sits at 94.8, placing it below the national baseline of 100. In practical terms, everyday expenses here run about 5.2 percent less than the U.S. average. The city is a moderately sized city of roughly 119,510 people, situated in the West Coast. Even though raw incomes are modest, the lower cost base boosts effective purchasing power, meaning residents can afford more than the headline salary might suggest.

Housing Costs in Billings

Compared to the national benchmarks, Billings's housing market tells a nuanced story. Median rent is $1,100 versus the U.S. median of $1,372 — a gap of $272. Median home prices land at $330,000 against a national figure of $412,300, a difference of $82,300. Both numbers tilt in favor of local residents, positioning the market as more accessible than the country at large. A one-bedroom rents for about $950, while two-bedroom options average $1,250. At 20 percent down, financing a median-priced home means borrowing roughly $264,000. Housing commands approximately 31 percent of the average household's total spending, and the 22.8 percent rent-to-income ratio stays inside the 30 percent safety zone that most financial planners endorse.

Monthly Expenses and Budget Breakdown

The total estimated monthly cost of living in Billings comes to approximately $3,555, compared to a national average of roughly $4,357. That total spans housing, groceries, utilities, transportation, healthcare, entertainment, childcare, and local taxes. The biggest slice goes to housing at $1,100 per month, followed by childcare at $900. Groceries for a typical household run $345 monthly — below the national average, a small but consistent savings that adds up over the course of a year. Utility bills, covering electricity, gas, water, and internet, average $135, while transportation — fuel, insurance, maintenance, and any transit fares — runs $110. Healthcare costs average $425 per month, at or below the national figure of $450, offering some financial relief for residents with ongoing medical needs. Rounding out the budget, entertainment and dining average $120, and childcare averages $900 for families who need it.

How Billings Compares to the National Average

Measured against the national baseline, Billings sits 5.2 points below par on the cost of living index. That gap translates into roughly $802 in monthly savings — approximately $9,624 per year — compared to a household in an average-cost American city spending $4,357 per month. Those savings accumulate powerfully over time: directed toward index-fund investments, they could grow into a substantial nest egg within a decade. The affordability advantage is broad-based, touching housing, groceries, and daily services alike.

Billings for Different Lifestyles

Families: Beyond the numbers, Billings offers families a community where childcare costs $900 per month and total household spending averages $3,555. Below-average childcare costs free up resources for sports leagues, music lessons, and family travel. A median household income of $57,803 supports a balanced lifestyle that includes both saving and spending on family experiences.

Retirees: Quality of life in retirement depends on predictable expenses, and Billings delivers healthcare costs of $425 per month paired with the tax advantages that come with Montana's favorable policy toward fixed-income residents.

Young professionals and singles: The social and financial viability of Billings for single earners hinges on that $950 one-bedroom rent and the $120 monthly entertainment budget. With housing below the national one-bedroom median of $1,190, young professionals can invest in experiences, education, and career development without sacrificing financial security.

Is Billings, MT Right for You?

Ready to evaluate Billings for your next move? Start with the numbers: a cost of living index of 94.8, median rent of $1,100, a median home price of $330,000, and monthly expenses totaling roughly $3,555. Next, run those figures through our comparison calculator alongside your current city or any other candidate. Then zero in on the categories that matter most to your household — healthcare for retirees, entertainment for social life, transportation for commuters — and compare those line items directly. Finally, visit in person to confirm that the data matches the lived experience. Numbers lay the groundwork, but the strongest decisions layer in firsthand observation and honest self-assessment.