Real Estate Investing in Billings, Montana (59102)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59102 (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.
No major risk flags on the data we track.
What’s happening in Billings, MT (59102)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 59102 Billings
Not every below-median market is a bargain. Billings's 59102 ZIP clocks in at signals that favor experienced operators who can absorb the risk $388K pricing implies.
Looking more closely, the numbers look inviting — $388K purchase price, 0.0% nominal cap — the work to hit that pro forma in 59102 is substantial and deserves full respect.
Nearby ZIPs in Billings have seen price recovery that 59102 has not matched. Yellowstone County data supports the view that the spread is structural rather than temporary.
In practical terms, 48,700 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 59102 is an operator game, not a passive one. Stepping back, entry prices of $388K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Billings:
Property Strategy for 59102
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $189,726 | $1,160 | 4.4% | +8.3% | $189,726 |
| 2BR | $277,902 | $1,480 | 3.8% | +7.0% | $138,951 |
| 3BR | $354,139 | $2,040 | 4.1% | +7.2% | $118,046 |
| 4BR | $395,493 | $2,310 | 4.2% | +6.8% | $98,873 |
| 5BR | $444,597 | — | — | +6.6% | $88,919 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 59102 Compare?
| Metric | 59102 | Billings | Billings, MT | Montana |
|---|---|---|---|---|
| Home Value | $388,202 | $212,213 | N/A | $457,278 |
| 5-Year CAGR | 5.7% | 5.5% | N/A | 9.2% |
| Avg Rent | $1,432 | $1,430 | N/A | - |
| Cap Rate | 2.9% | 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 59102 (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 | $388,202 |
| Monthly Rent | $1,432 |
| Price-to-Rent | 22.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +5.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.9%). 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 59102
Population: 48,700
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 59102
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
How expensive is real estate in Billings, MT?
The median home value in Billings, MT is roughly $388K. That puts it reasonable relative to the MT statewide average.
How quickly do rentals get leased in Billings, MT?
Vacancy risk in Billings, MT is elevated. That supports reliable cash flow for typical rental holds.
How landlord-friendly is Billings, MT?
The landlord environment in Billings, MT is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Is Billings, MT good for house hacking?
The house hack math a challenging in Billings, MT. Owner-occupant buyers benefit from the $1,432/mo rents and $388K home values.
How strong is tenant demand in Billings, MT?
Working renters make up the core of the Billings, MT tenant base. The pool is reasonable for investors targeting long-term holds.
You know 59102 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 59102 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 59102 ranks in Billings, MT
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