Billings cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBillingsMontanaNational
Cost of living index9898100
IndexBillingsMontanaNational
Goods & Services index9898100
Groceries index100100100
Health care index104104100
Housing index9897100
Transportation index101101100
Utilities index9292100
Displayed above is a general overview of the Billings, MT cost of living index. The overall cost of living index in Billings, MT is 98, which is equal to the Montana average and 2% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Billings, MT are equal to the Montana average and 3% lower than the national average.

Did you know?

  • The cost of living in Billings is equal to the Montana average.
  • The cost of living in Billings is 2% lower than the national average.
  • The cost of housing in Billings is 2% lower than the national average.
  • Montana general sales tax is 100% lower than the national average.
  • Montana state income tax is 55% lower than the national average.

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Salary Calculator

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Goods & Services index
Groceries index
Health care index
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Transportation index
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Use the salary calculator to compare your current salary in Billings, MT to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Billings, MT, then you would need to earn more income in order to maintain the same standard of living. To use the Billings, MT salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$65,174$5,431$1,521$1,955
Renters$31,285$2,607$730$939
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Billings, MT, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Billings, MT has a median income of about $65,174 for people who own homes. Based on that number, a person should spend a maximum of $1,521 on expenses related to housing. Renters have a slightly different median income, which is $31,285. Based on this average, renters should spend no more than $730 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Montana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Montana0%0%

Montana Income Tax

StateIncome Tax (Low)Income Tax (High)
Montana1%6.9%
One thing to keep in mind when considering the cost of living in Billings, MT is the Montana sales tax and Montana income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Montana sales tax rate is 0% and the maximum surtax that can be charged is 0%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Montana income tax rates range from 1% to 6.9%.

Goods & Services

ItemBillingsNational avg.Difference
Haircut $14.37$15.567.7%
Beauty Salon $37.33$36.113.4%
Toothpaste $2.72$2.4710.1%
Shampoo $0.95$0.961.6%
Movie $10.25$10.131.2%
Bowling $3.83$4.7419.0%

Groceries

ItemBillingsNational avg.Difference
Ground Beef $3.43$3.9813.9%
Fried Chicken $1.39$1.411.0%
Milk $1.75$2.0615.2%
Potatoes $3.67$2.9823.1%
Pizza $8.99$9.475.1%
Beer $8.65$8.791.6%

Health Care

ItemBillingsNational avg.Difference
Optometrist $82.77$101.0418.1%
Doctor $134.33$107.4425.0%
Dentist $82.20$90.429.1%
Ibuprofen $9.93$9.287.0%
Lipitor $455.84$426.506.9%

Housing

ItemBillingsNational avg.Difference
Home Price $185,900.00$175,700.005.8%
Avg. Mortgage Payment $1,256.86$1,133.2310.9%
Apartment Rent $740.00$920.0019.6%

Transportation

ItemBillingsNational avg.Difference
Gasoline $2.09$1.994.7%
Tire Balancing $42.53$45.767.1%

Utilities

ItemBillingsNational avg.Difference
All Electricity$182.10$163.8111.2%
Phone $18.66$28.3934.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Shepherd, MT76692-8%
Laurel, MT6,88792-8%
Lockwood, MT6,94395-5%
Huntley, MT46197-3%
Billings, MT106,97998-2%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Round Rock, TX106,97296-4%
Cambridge, MA106,84417272%
High Point, NC106,79795-5%
Lehigh Acres, FL106,74789-11%
Odessa, TX107,32587-13%
Billings, MT106,97998-2%
Source: The Billings, MT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.