Billings, MT

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Billings short-term rental market based on reliable data.

Listings

421 / 789

Reliable / Active

Cap Rate

7%

Middle-Earners Gross Yield

Revenue

$26,110

Middle-Earners Revenue

Occupancy

74%

Middle-Earners Occupancy

Home Value

$390,654

Median Home Sale Price

Top Earners

$48,126

Top-Earners Revenue

Billings

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Billings.

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B

Generally Investor friendly

Billings Regulations

Billings explicitly allows short‑term rentals but requires both an annual $300 STR permit and a $55 city business license, with moderate safety and operational compliance rules and active enforcement. There are no explicit caps, and the process is clearly laid out, making compliance a known, manageable hurdle for investors.

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About Billings

Billings, Montana, is the largest city in the state, with a population of approximately 117,000 as of recent estimates. It is located in the south-central part of Montana and is about 143 miles from Bozeman, the closest major city. Known as the "Magic City" due to its rapid growth since its founding as a railroad town in 1882, Billings offers a blend of natural beauty, modern amenities, and historical landmarks that make it appealing for short-term rentals.

Key attractions in Billings include the Rimrocks, a series of sandstone cliffs that provide panoramic views of the city and surrounding areas. Visitors can take scenic drives or hikes to experience these breathtaking vistas. Another notable landmark is the Moss Mansion, a historic house museum dating back to 1903, which offers guided tours showcasing early 20th-century architecture and lifestyles (Moss Mansion).

For those interested in the natural world, the Yellowstone River, the longest undammed river in the contiguous United States, flows through Billings. The Riverfront Park, offering trails and picnic areas along the river, is a popular spot (Riverfront Park). Art enthusiasts will appreciate the Yellowstone Art Museum, which features contemporary and historic art from the region (Yellowstone Art Museum).

Furthermore, Billings serves as a gateway to Montana's outdoor recreational activities. For instance, it's a convenient base for exploring the Beartooth Highway, often considered one of the most scenic drives in America. Located only an hour away, this highway offers access to some of the most picturesque landscapes, including mountain views and alpine plateaus.

Overall, Billings' combination of urban amenities, historical sites, and proximity to natural attractions makes it an attractive destination for short-term renters.

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