Billings, Montana Short-Term Rental Market
Billings STR averages $134 ADR, 64.2% occupancy and $2,399 monthly revenue in September 2026.
Quick Answer: Billings, Montana is an active short-term rental market. average occupancy is 64%. average monthly revenue is $2,399. average daily rate is $134. the top operator in Billings is Stay with Bo with 20 listings. market score is 73/100 (grade B).
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Billings, Montana is the state’s largest commercial hub, and its short-term rental market reflects that. As of September 2026, the Billings area STR market tracks 800 listings, of which 729 are entire places and 71 are private rooms. The average daily rate across all listings is $134, occupancy is 64.2%, and average monthly revenue per listing is $2,399. Compared with a year earlier, occupancy is up 2.7%, ADR is up 3.0%, and monthly revenue is up 0.7%, so rate gains are carrying most of the growth while revenue is roughly flat. The city draws more than 2.6 million visitors per year who spend approximately $621 million locally, and it has over 5,100 hotel rooms and a Metra Park arena that seats 10,000 for conventions and events. Billings also serves as a gateway to Yellowstone National Park, Little Bighorn Battlefield National Monument, Pompey’s Pillar National Monument, and the Dinosaur Trail, which supports a mix of leisure, medical, and business travel. The unit mix skews small. One bedroom listings number 263 and two bedroom listings number 248, together about 64% of the market. Three bedroom homes add 157 listings, four bedroom homes 83, and five bedroom homes 49. On distribution, 473 listings are on Airbnb only, 38 are on Vrbo only, and 289 appear on both platforms. The StaySTRA market score for Billings is 73.0 out of 100, driven by a rental demand score of 99.2 and a seasonality score of 83.3, with revenue growth the weakest component at 44.3. These figures describe the Billings area as a whole, so treat them as market-level benchmarks rather than a forecast for any single property.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 55% |
| Feb | 64% |
| Mar | 68% |
| Apr | 74% |
| May | 72% |
| Jun | 75% |
| Jul | 75% |
| Aug | 73% |
| Sep | 67% |
| Oct | 67% |
| Nov | 63% |
| Dec | 61% |
Month-by-month nightly rates and revenue figures for Billings are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Billings
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Stay with Bo | 20 | 4,051 | ★ 4.87 |
| 2 | Evolve | 15 | 480 | ★ 4.61 |
| 3 | Landing | 8 | 0 | ★ 0.00 |
| 4 | Landing, Inc. | 2 | 7 | ★ 3.75 |
| 5 | Anaconda Pintler Property Services | 1 | 40 | ★ 5.00 |
What Kind of STR Should I Buy in Billings?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Billings are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 59.1% |
| vrbo | 4.8% |
| both | 36.1% |
Home Value Trends (Billings)
Typical home values, median sale prices, and the 10-year price trend for Billings are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Billings — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Billings allows short-term rentals but requires two approvals. Operators need a City business license ($55 initial fee) and an Annual Short-Term Rental Permit from the Planning Department ($300), for $355 in initial costs. Both renew annually, and the rules cover stays of fewer than 30 days. The city recognizes two categories. A Guest Home is owner or long-term tenant occupied, and a Tourist Home is an unoccupied residential dwelling. Owner occupancy and primary residence are not required, and one permit is issued per dwelling. Tourist homes in residential districts go through a special review that includes neighbor notification. All advertising must display the Billings STR Permit number, and a local contact person, not a corporation, must be designated to respond to issues. A one-time fire inspection and health inspection are required. Only habitable space qualifies, so accessory structures cannot be permitted, and deed-restricted affordable housing units are ineligible. Maximum occupancy is 2 persons per bedroom, large parties are not allowed, and noise rules apply from 8 pm to 7 am. Montana’s 8% lodging tax applies to stays under 30 days, and Airbnb and Vrbo collect and remit it automatically. Enforcement is rated moderate. In March 2025 the city identified 300-plus properties operating without proper permits and sent courtesy letters with a 60-day compliance deadline. Civil penalties start at $300 and escalate to $500 per day. The ordinance was originally adopted in 2021.
Market Comparison
Billings posts 64.2% occupancy and a $134 ADR, with luxury listings at $171 and professionally managed listings at $162, and monthly revenue of $2,399. The operator landscape is fragmented. Stay with Bo is the largest manager with 20 listings, 4,051 reviews, and a 4.9 rating. Evolve follows with 15 listings, 480 reviews, and a 4.6 rating. Landing manages 8 listings, with another 2 under Landing, Inc., and Anaconda Pintler Property Services manages 1 listing with a 5.0 rating. The largest operator holds about 2.5% of the 800 tracked listings, so no single company dominates and independent owners compete directly with managed inventory. The market score of 73.0 out of 100 is held up by rental demand at 99.2 and seasonality at 83.3.
Frequently Asked Questions About Billings, Montana
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