What's a good cap rate in Billings?

In Billings, cap rates typically run around 7.0% (Montana state median). A deal above that line is outperforming the local market; below it, you're paying up for appreciation or stability. TrueCap shows where any specific Billings deal lands versus this benchmark.

What's the average rent for a rental in Billings?

A typical rental in Billings runs about $1,250–$1,700/mo (estimate; varies by neighborhood, size, and condition). TrueCap auto-fills HUD Fair Market Rent for the exact address you enter.

What is the property tax rate in Montana?

Montana's effective property tax rate is about 0.74% of value per year — the figure TrueCap applies by default for Billings deals. You can override it with the exact local rate.

Billings, MT

Billings rental property analysis

Billings is Montana's largest city — energy, healthcare, and agriculture employment with steady demand and limited supply.

Billings market snapshot

Balanced market

Mid-range cap rates — cash flow and appreciation are both realistically on the table.

Typical cap rate

7.0%

Montana state median

Typical rent

$1,250–$1,700/mo

est., SFR / small multi

Typical price

$280,000–$370,000

est., all-in

Property tax

0.74%

Montana effective

Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.

Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.

Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated June 2026

Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.

Is Billings a good place to buy rentals?

A stable regional hub with reliable demand and steady appreciation; limited inventory keeps vacancy low.

Neighborhoods to look at in Billings

West End Billings

Newer SFRs, family renters, low vacancy.

The Heights

Affordable, steady demand.

Neighborhood notes are starting points, not recommendations — always underwrite the specific property.

Run a Billings deal in 60 seconds

Paste a Billings address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with Montana tax and HUD rent so you start from the right assumptions.

Try TrueCap free

Free calculators

Cap rate calculator Cash-on-cash calculator DSCR calculator Mortgage payment calculator Rental property tax calculator