Real Estate Investing in Billings, Montana (59105)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59105 (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.
- High price-to-rent: Price-to-rent ratio 25.9 — hard to cash-flow at these prices.
What’s happening in Billings, MT (59105)?
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Market Analysis: 59105 Billings
From an investor standpoint, ZIP 59105 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $425K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 59105 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within MT, ZIP 59105 trails on several market indicators that neighboring Yellowstone County submarkets outperform. The gap is real and significant enough to shape underwriting.
A notable renter share of 23% in 59105 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Billings:
Property Strategy for 59105
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $289,518 | $1,600 | 4.0% | +7.3% | $144,759 |
| 3BR | $389,344 | $2,200 | 4.1% | +7.7% | $129,781 |
| 4BR | $433,056 | $2,500 | 4.2% | +7.6% | $108,264 |
| 5BR | $495,206 | — | — | +7.5% | $99,041 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 59105 Compare?
| Metric | 59105 | Billings | Billings, MT | Montana |
|---|---|---|---|---|
| Home Value | $425,267 | $212,213 | N/A | $457,278 |
| 5-Year CAGR | 6.2% | 5.5% | N/A | 9.2% |
| Avg Rent | $1,366 | $1,430 | N/A | - |
| Cap Rate | 2.5% | 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 59105 (Billings, MT). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 59105 (Billings, MT)?
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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 | $425,267 |
| Monthly Rent | $1,366 |
| Price-to-Rent | 25.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.7% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). 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 59105
Population: 34,363
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 59105
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
Should investors consider Billings, MT?
With a 3.0/5 investability score, Billings, MT ranks as a solid market for rental property investors. Median prices of $425K and rents of $1,366/mo drive the underlying numbers.
How do experienced investors play Billings, MT?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Billings, MT. The numbers - $425K homes against $1,366/mo rents - support that play.
What is the typical rental rate in Billings, MT?
Investors in Billings, MT typically see rents near $1,366/mo per month against $425K home values - a solid setup for rental cash flow.
How high is vacancy risk in Billings, MT?
Vacancy risk in Billings, MT is elevated. That supports even-keeled cash flow for typical rental holds.
How do home values compare in Billings, MT?
In Billings, MT the median home value sits at $425K. Against the broader MT market, that reads as reasonable for most investors.
You know 59105 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 59105 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 59105 ranks in Billings, MT
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