Rental numbers for Yellowstone County, MT
The typical home here runs -$1,699 a month at 7.78% with 25% down. 0 of 5 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.4%.
- Gross yield
- 4.3%
- typical home, Zillow
- Median ZIP yield
- 4.4%
- 5 ZIPs with full data
- Cash flow
- -$1,699/mo
- at 7.78%, 25% down
- Typical price
- $401,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,426/mo
- Zillow ZORI, Aug 2026
ZIP codes in Yellowstone County
12 with published figures
| 59079Shepherd | $471,000 | $1,980* | 5.0% | 2.3% | -$1,656 | n/a |
| 59015Acton | $382,000 | $1,460* | 4.6% | 2.0% | -$1,436 | n/a |
| 59102Billings | $382,000 | $1,430 | 4.5% | 1.5% | -$1,581 | +2.1% |
| 59044Laurel | $375,000 | $1,390 | 4.5% | 1.7% | -$1,497 | n/a |
| 59101Billings | $333,000 | $1,229 | 4.4% | 1.3% | -$1,428 | +5.3% |
| 59024Custer | $391,000 | $1,430* | 4.4% | 1.5% | -$1,631 | n/a |
| 59088Worden | $406,000 | $1,390* | 4.1% | 1.2% | -$1,779 | n/a |
| 59006Ballantine | $386,000 | $1,240* | 3.9% | 0.7% | -$1,845 | n/a |
| 59105Billings | $419,000 | $1,342 | 3.8% | 1.1% | -$1,891 | +4.9% |
| 59106Billings | $543,000 | $1,712 | 3.8% | 1.1% | -$2,416 | +0.9% |
| 59037Huntley | $496,000 | $1,370* | 3.3% | 0.8% | -$2,354 | n/a |
| 59057Molt | $593,000 | $1,440* | 2.9% | 0.6% | -$2,896 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +2.4%
- Rent, 12 months
- +3.3%
- Rent minus price growth
- +0.8 pts
- Property tax
- 0.81%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $315,227 | $1,105 |
| Aug 2022 | $367,898 | $1,254 |
| Aug 2023 | $381,747 | $1,289 |
| Aug 2024 | $387,463 | $1,334 |
| Aug 2025 | $391,850 | $1,381 |
| Aug 2026 | $401,360 | $1,426 |
HUD Fair Market Rent
FY2027, Billings, MT HUD Metro FMR Area
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,003 | $1,132 | $1,432 | $1,983 | $2,261 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 14.3
- 999 units, last 12 months
- National percentile
- 82th
- among US counties
Tools
Test a listing in Yellowstone County against today's rate.
Open the calculatorPart of the Billings, MT metro.
Questions
- Is Yellowstone County good for rental property?
- The typical home here runs -$1,699 a month at 7.78% with 25% down. 0 of 5 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.4%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Yellowstone County?
- About 0.81% of value, from Census ACS median taxes paid over median home value. On a $401,000 home that is about $3,251 a year.
- What is Fair Market Rent in Yellowstone County?
- HUD's FY2027 Fair Market Rent here is $1,132 for a 1-bedroom, $1,432 for a 2-bedroom and $1,983 for a 3-bedroom. Typical cash flow at today's rate is -$1,699 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.