Real Estate Investing in Billings, Montana (59101)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59101 (Billings, MT)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.0% vacancy may signal weakening demand.
What’s happening in Billings, MT (59101)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 59101 Billings
The 59101 ZIP covers a section of Billings that demands careful diligence. Prices near $336K look accessible, but the work to make a deal cash flow is real.
The investment case in 59101 is substantial only for operators who understand what they are buying. A $336K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 59101 sits on the difficult end of the MT spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 59101 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 59101 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Billings:
Property Strategy for 59101
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $189,960 | $1,060 | 4.0% | +9.1% | $189,960 |
| 2BR | $264,385 | $1,350 | 3.7% | +8.0% | $132,193 |
| 3BR | $335,497 | $1,860 | 4.0% | +7.6% | $111,832 |
| 4BR | $384,473 | $2,110 | 4.0% | +7.3% | $96,118 |
| 5BR | $500,426 | — | — | +7.3% | $100,085 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 59101 Compare?
| Metric | 59101 | Billings | Billings, MT | Montana |
|---|---|---|---|---|
| Home Value | $336,360 | $212,213 | N/A | $457,278 |
| 5-Year CAGR | 6.0% | 5.5% | N/A | 9.2% |
| Avg Rent | $1,189 | $1,430 | N/A | - |
| Cap Rate | 2.8% | 2.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 59101 (Billings, MT). Anonymous, moderated, never written by AI.
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Property managers serving Yellowstone County
Manage rentals here? List your business →Happy Homes Property Management offers patio home apartments in Billings, MT. summary from their website
Yellowstone Property Managers Association is an association for property managers. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $336,360 |
| Monthly Rent | $1,189 |
| Price-to-Rent | 23.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.8% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +4.5% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | -2.4% ▼ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 59101
Population: 41,797
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 59101
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,088 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of vacancy should I budget for in Billings, MT?
Occupancy in Billings, MT runs reliable with elevated vacancy. Well-priced units at $1,189/mo lease on reasonable timelines.
How strong are rents in Billings, MT?
The typical rental in Billings, MT commands about $1,189/mo monthly. That rent profile measured cash flow against the $336K purchase basis.
How qualified is the tenant pool in Billings, MT?
Expect a solid tenant pool in Billings, MT. The rental market absorbs $1,189/mo rents without meaningful friction.
What approach is best for Billings, MT real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Billings, MT. The numbers - $336K homes against $1,189/mo rents - support that play.
Are homes affordable in Billings, MT?
Billings, MT median home values land near $336K. That is reasonable territory for investors looking at $1,189/mo-per-month rentals.
You know 59101 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 59101 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 59101 ranks in Billings, MT
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