Real Estate Investing in Billings, Montana (59106)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59106 (Billings, MT)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 26.4 — hard to cash-flow at these prices.
What’s happening in Billings, MT (59106)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 59106 Billings
The 59106 ZIP covers a section of Billings that demands careful diligence. Prices near $548K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 59106 can be a a solid fit for hunting ground — but the discount at $548K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 59106 among MT's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 59106 ZIP's population of 20,232 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Distressed ZIPs reward experience. durable returns are possible in 59106, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Billings:
Property Strategy for 59106
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $389,717 | $1,730 | 3.2% | +4.4% | $194,858 |
| 3BR | $478,278 | $2,380 | 3.6% | +6.1% | $159,426 |
| 4BR | $559,681 | $2,710 | 3.5% | +6.3% | $139,920 |
| 5BR | $669,824 | — | — | +6.6% | $133,965 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 59106 Compare?
| Metric | 59106 | Billings | Billings, MT | Montana |
|---|---|---|---|---|
| Home Value | $547,877 | $212,213 | N/A | $457,278 |
| 5-Year CAGR | 4.2% | 5.5% | N/A | 9.2% |
| Avg Rent | $1,732 | $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 59106 (Billings, MT). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 59106 (Billings, MT)?
~25 seconds · no account needed · your report is anonymous
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 | $547,877 |
| Monthly Rent | $1,732 |
| Price-to-Rent | 26.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +4.4% ▲ |
🏠 Rent Trends
| 1-Year | -3.7% ▼ |
| 3-Year CAGR | N/A |
| 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 59106
Population: 20,232
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 59106
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 do rentals go for in Billings, MT?
Average rent in Billings, MT is approximately $1,732/mo per month. Against $548K home values that yields a reasonable rent-to-price ratio.
Is MT a landlord-friendly state?
Landlord-friendliness in Billings, MT is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
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 - $548K homes against $1,732/mo rents - support that play.
How strong is the working-renter base in Billings, MT?
The renter base in Billings, MT is reasonable for the $1,732/mo price point. Screening well and pricing to market typically yields consistent tenants.
How strong is Billings, MT for real estate investors?
Billings, MT scores 3.0/5 for investability. Home values sit at $548K and rents near $1,732/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 59106 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 59106 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 59106 ranks in Billings, MT
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 59106 (Billings)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 59106 (Billings, MT).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.