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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
In plain English: Dollar for dollar, few states match Montana's value. And with some exceptions, 1 out of 1 cities undercut the national cost index of 111. Leading the pack: Billings at index 81, where median rent of $1,383/month saves renters $6,144/year versus the national median.
#1 Ranked: Billings — cost index 81, rent $1,383/mo, income $71,855
1 of 1 cities come in below the national cost-of-living average of 111
Data sourced from Census Bureau, Zillow, BLS, and Tax Foundation — current as of 2026
In plain English: Dollar for dollar, few states match Montana's value. And with some exceptions, 1 out of 1 cities undercut the national cost index of 111. Leading the pack: Billings at index 81, where median rent of $1,383/month saves renters $6,144/year versus the national median.
Rent data is sourced from Zillow's Observed Rent Index (ZORI), which tracks the median rent across all active listings — not just new leases. This gives a more representative and stable signal than asking prices alone. Billings: $1,383/mo. The cheapest city here is $512 under the national median — that's $6,144/year in savings on rent alone (that's pre-tax, of course).
Billings is one of the cheaper options here. And generally speaking, rent is $1,383/month, which is lower than most cities in this ranking. The cost index is 81. Income sits at $71,855. That's about what we'd expect given the state context.
This looks affordable — until you factor in healthcare. In Billings, the healthcare index sits at 96 — not a dealbreaker, but worth knowing about.
Rankings quantify the landscape. Fairly typical for a city this size. But the decision to move is personal. Use the spotlights above to zero in on 2-3 finalists, then run your actual salary through the calculator. The question isn't just "where is it cheapest?" — it's "where does my specific income buy the life I want?" Start here. Dig deeper on the linked city pages.
120,864 residents · Montana
Billings earns its position at #1 through a combination that's hard to replicate. And with some exceptions, the 81 cost index sits 30 points below the national baseline, and the $71,855 — which, honestly, is lower than you'd expect here — median income means purchasing power here is amplified by the low cost base. Homes list at $390,654 — $76,716 below the national median — a genuine ownership opportunity. On the cost side, Housing leads the way at 81, while Healthcare trails at 96.
Cities are ranked by median 1-bedroom rent in ascending order using Zillow's Observed Rent Index (ZORI). We include all tracked cities in Montana with verified rent data, giving you a complete picture of the rental landscape from cheapest to most expensive. All data is sourced from federal agencies and verified research institutions. Cost of living indices are normalized to 100 (national median) using Zillow rent as the primary signal, with sub-category adjustments derived from regional BLS price data. Rankings are updated monthly as new data is released.
Billings ranks #1 in Montana for this analysis with a cost index of 81 and median income of $71,855.
Our cost of living index uses real Zillow rent data as the foundation, indexed to 100 (national median). Sub-categories (housing, food, transport, utilities, healthcare) are derived from the overall index with regional adjustments. Data is updated monthly.
City data is refreshed monthly from Census Bureau population estimates, Zillow rent and home price indices, BLS salary data, and Tax Foundation tax rates. Last updated: 2026.
The median 1-bedroom rent in Billings is $1,383/month as of 2026, based on Zillow's Observed Rent Index. This is $512 below the national median of $1,895/month.
The median home price in Billings is $390,654, which is 5.4× the local median income. Most median-income households would stretch to buy at this ratio. The national median home price is $467,370.
Montana has a 5.9% state income tax rate. Combined state and local sales tax averages 0%, and the effective property tax rate is 0.74%.
This ranking was generated using data current as of early 2026. Population and income data comes from the Census Bureau's American Community Survey (5-year estimates). Rent and home price data is from Zillow's monthly releases. Tax rates are from the Tax Foundation's 2025 edition. Rankings are refreshed monthly.