Billings, MT Airbnb Market Data, Statistics, and Occupancy Rates

Billings Short-Term Rental Market Overview

Billings, MT presents an interesting entry point for short-term rental investors looking at Montana's largest city. With an average annual revenue of $22,811 across 230 active listings and home values averaging $523,154, the market offers a moderate yield profile buoyed by above-average occupancy stability. The ADR of $148 sits well below Montana's $443 state average, reflecting Billings' positioning as an affordable, working-city alternative rather than a resort destination — which can translate to lower acquisition costs and steadier year-round demand.

Key Market Statistics

According to Rabbu market data, the Billings short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Billings

Investors are drawn to Billings for its combination of occupancy stability, relatively affordable property prices by Montana standards, and consistent demand from travelers passing through the state's largest metro area.

Expert Market Assessment

"Billings represents a moderate opportunity for STR investors who prioritize cash-flow stability over peak-season windfalls. The market's above-average occupancy stability is its standout feature, helping offset a below-average revenue-to-price ratio that reflects the city's more modest nightly rates. Seasonality is present but manageable — revenue roughly doubles from the winter trough ($1,300 in January) to the summer peak ($2,555 in July), a spread that's less dramatic than many mountain or resort markets. Investors targeting 3- to 5-bedroom properties will find the strongest revenue potential, though the rapid growth in active listings warrants close attention to how supply and demand evolve."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Billings

Average revenue by month in Billings

Billings shows clear seasonality with July ($2,555) and August ($2,449) leading the year, while January ($1,300) and February ($1,311) represent the lowest-earning months — a peak-to-trough spread of about $1,255. The gradual ramp from spring through summer and the relatively strong October ($2,052) suggest an extended earning season that softens the impact of winter.

Active Airbnb listings by property size in Billings

Two-bedroom units dominate supply with 73 listings, closely followed by 1-bedrooms at 65, while 4- and 5-bedroom properties are notably scarce at 23 and 15 listings respectively. This limited supply of larger homes, combined with their significantly higher revenue potential, could signal an opportunity for investors willing to acquire bigger properties.

Average daily rate (ADR) by property size in Billings

ADR scales steeply with property size in Billings, jumping from $84 for 1-bedroom listings to $336 for 5-bedroom homes — a 4x premium. The sharpest increase comes between 2 bedrooms ($111) and 3 bedrooms ($179), suggesting that the 3-bedroom tier offers a meaningful rate jump without the higher acquisition cost of 4- or 5-bedroom properties.

Average RevPAN by property size in Billings

Five-bedroom properties deliver the strongest RevPAN at $105, nearly double the $57 earned by 4-bedroom listings and almost four times the $28 for 1-bedrooms. This outsized gap indicates that larger properties in Billings are not only charging more per night but also converting that pricing power into disproportionately better per-night revenue after accounting for occupancy.

Average occupancy rates by property size in Billings

Occupancy rates are tightly clustered between 25% and 34% across all property sizes, with 1-bedrooms leading at 34% and 4-bedrooms lowest at 25%. The relatively narrow range means that revenue differences between property sizes are driven primarily by rate rather than occupancy, giving investors with larger properties confidence that demand exists at premium price points.

Average monthly revenue by property size in Billings

Monthly revenue climbs steadily from $1,063 for 1-bedroom listings to $3,895 for 5-bedroom properties, with each additional bedroom adding roughly $700–$800 in monthly income. Three-bedroom units averaging $2,438 per month represent a solid middle-ground option for investors seeking meaningful returns without the complexity of managing a larger home.

Average annual revenue by property size in Billings

Annual revenue ranges from $12,760 for 1-bedroom listings to $46,750 for 5-bedroom properties, with the jump from 3-bedroom ($29,263) to 5-bedroom ($46,750) adding nearly $17,500 in yearly income. Investors targeting the strongest absolute return potential should focus on 4- and 5-bedroom configurations, though acquisition costs and management complexity should factor into the analysis.

Most common amenities for Airbnb listings in Billings

Kitchen (97%) and parking (97%) are near-universal in Billings listings, reflecting guest expectations in a car-dependent market. Laundry amenities (washer 89%, dryer 86%) and self check-in (85%) are also standard, while differentiators like hot tubs (13%), pet-friendliness (32%), and BBQ grills (45%) remain less common and could help listings stand out from the competition.

Understanding Billings's ROI Score: 56/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Billings earns an ROI Score of 56 out of 100, placing it in the "Attractive Opportunity" band — a market with genuine potential that requires thoughtful execution. The score reflects above-average occupancy stability and balanced supply/demand dynamics, though it's held back by a below-average revenue-to-price ratio, meaning nightly earnings are modest relative to acquisition costs. Investors should pair this data with local regulatory research and a detailed property-level analysis to ensure the numbers work for their specific investment thesis.

Short-Term Rental Regulations in Billings

Understanding local STR regulations is essential before investing in Billings. Here's the current regulatory landscape:

Permit Requirements

Short-term rental operators in Billings, Montana may be required to obtain permits or register their property with the city before listing on platforms like Airbnb. Investors should verify current requirements directly with Billings city offices and the State of Montana, as rules can change and enforcement varies.

Key Restrictions

Common restrictions in markets like Billings may include occupancy limits, noise ordinances, parking requirements, and minimum stay rules. HOA or neighborhood covenants can also impose additional limitations, so investors should review any applicable community rules before purchasing a property intended for short-term rental use.

Tax Obligations

Montana typically requires short-term rental operators to collect and remit lodging facility use taxes, and Billings may have additional local tourism or occupancy taxes. Many booking platforms handle tax collection automatically, but hosts should confirm compliance with both state and local tax authorities.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Billings can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, we expect Billings to maintain its seasonal revenue pattern with summer months continuing to drive the bulk of earnings. ADR could see modest growth in the range of 1–3% as the market matures, though the 123% year-over-year increase in active listings signals rising competition that may put pressure on occupancy rates if supply outpaces demand. Investors entering now should plan for winter softness — January and February revenues around $1,300–$1,311 — while building pricing strategies that capitalize on the $2,400–$2,555 peak months of July and August."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Billings, MT

What is the average Airbnb occupancy rate in Billings?

The average Airbnb occupancy rate in Billings is currently 31%, which falls below Montana's 47% state average. Occupancy varies by property size, with 1-bedroom units achieving the highest rate at 34% and 4-bedroom properties sitting lower at 25%. Despite the modest headline number, Billings earns an above-average occupancy stability rating, meaning demand tends to be more consistent throughout the year rather than concentrated in a single peak season.

How much do Airbnb hosts make in Billings?

Airbnb hosts in Billings earn an average of $1,900 per month or approximately $22,811 per year based on trailing 12-month performance. Revenue scales significantly with property size: 1-bedroom listings average $12,760 annually, while 5-bedroom properties bring in roughly $46,750 per year. Summer months like July ($2,555) and August ($2,449) represent peak earning periods, with winter months like January generating around $1,300.

Is Billings a good market for Airbnb investment?

Billings scores a 56 out of 100 on Rabbu's ROI Score, placing it in the "Attractive Opportunity" category. The market benefits from above-average occupancy stability and average growth and supply/demand dynamics, though its revenue-to-price ratio comes in below average. This means Billings is best suited for investors who value steady, predictable income over high-yield returns, particularly those targeting larger properties where annual revenue can reach $37,000–$46,750.

What is the average daily rate (ADR) for Airbnb in Billings?

The average daily rate for Airbnb listings in Billings is $148, significantly below Montana's statewide average of $443. Rates range from $84 for 1-bedroom units to $336 for 5-bedroom properties, with each additional bedroom adding meaningful pricing power. The lower ADR relative to the state reflects Billings' urban, non-resort positioning but also means guests perceive the market as affordable, which can support stronger booking volume.

Are short-term rentals legal in Billings?

Short-term rentals operate in Billings, MT, with 230 active Airbnb listings currently on the market. However, operators should verify local permitting and registration requirements with the City of Billings, as regulations can evolve. Montana also has state-level lodging tax requirements that apply to short-term rental hosts. It's always advisable to consult with local authorities and review any HOA or neighborhood restrictions before investing.

When is peak season for Airbnb in Billings?

Peak season in Billings runs from June through September, with July delivering the highest average monthly revenue at $2,555 and August close behind at $2,449. The shoulder months of May ($2,015) and October ($2,052) also perform well, suggesting Billings benefits from an extended warm-weather travel season. Winter months from January through March are the softest, with revenues in the $1,300–$1,471 range.

How many Airbnbs are there in Billings?

Billings currently has 230 active Airbnb listings. The market has seen significant growth, with a 123% year-over-year increase in active listings. Two-bedroom properties make up the largest share of supply at 73 listings, followed by 1-bedroom units (65) and 3-bedroom properties (46). Larger 4- and 5-bedroom listings are less common, with 23 and 15 active listings respectively.

How is Airbnb revenue calculated in Billings?

The annual and monthly revenue figures for Billings are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. We average each comparable listing's actual revenue per available night (RevPAN) by month over the past year, remove regional outliers, and roll the remaining data up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently, while naturally reflecting seasonal peaks (like July at $2,555) and slower months (like January at $1,300) because each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and operational management.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts for the Billings, MT market
• Average daily rates, occupancy rates, and RevPAN benchmarks by property size
• Monthly and annual revenue trends based on trailing 12-month booking performance
• Property value data sourced from the Zillow Home Value Index (ZHVI)
• Amenity prevalence data across active listings to inform competitive positioning

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Local regulations, permit requirements, and tax obligations may change; always verify with municipal and state authorities before investing. Individual property results will vary based on location, condition, amenities, pricing strategy, and management quality.