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Cost of Living in Billings

Is it better to rent or buy in Billings? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$80,768
$1,215/mo

Median in area: $1,215

$355,349

Median in area: $355,349

$71,070

If you Rent

🔑
$1,408 /mo
Base Rent$1,215
Est. Utilities$193
% of Income20.9%
Pre-tax Residual$5,323

If you Buy

🏠
$2,352 /mo
P&I (6.5%)$1,797
Taxes & Ins$362
Est. Utilities$193
% of Income34.9%
Pre-tax Residual$4,379

Cost of Living FAQs

Is it cheaper to rent or buy in Billings?›

Based on median housing data, renting is currently more affordable on a monthly basis in Billings. The estimated all-in monthly cost for renting is $1,408, while owning a median-priced home with a 20% down payment is roughly $2,352 per month (a difference of $944).

How much do utilities cost in Billings?›

The average monthly utility cost (electricity and natural gas) for a typical home in Billings is approximately $193. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Billings?›

To comfortably afford the median rent and utilities in Billings without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $56,320 per year.