NAICS 53

Real Estate and Rental and Leasing in Billings, MT

Metro Market Score 48.7 (Challenging), ranked #209 of 330 metros. 364 establishments, 1,214 jobs.

Metro Market Score 48.7

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Challenging

ⓘ Lower is better. Relative to national real estate and rental and leasing average.

Billings's real estate and rental and leasing market sits near the national metro median, ranking #209 of 330 with a market score of 48.7. No single metric stands out as an outlier, which means entry conditions depend more on your specific business model than on broad market forces.

Industry Concentration

56.7

LQ: 0.83

Rank #187 of 330 metros

Wage Competitiveness

55.1

$56,579 avg wage

Growth Trend

↓ 39.1

Employment growth index

Rank #202 of 330 metros

Wage Pressure

12.3

YoY wage change index

364 Real Estate and Rental and Leasing Firms in Billings

364

Establishments

-7.8% YoY

1,214

Total Employment

+0.0% YoY

$56,579

Average Annual Wage

+0.0% YoY

0.83

Location Quotient

Below national avg

Within Montana

#2 of 3

real estate and rental and leasing metros in state

Montana state rank

#20 of 51

for real estate and rental and leasing entry risk

vs State Median

0.0

matches median (48.7)

Billings vs Montana Statewide

How this metro's real estate and rental and leasing market compares to Montana overall. The state ranks #20/51 for entry risk.

Measure	Billings	MT Statewide
Overall Score	48.7 Challenging	37.5 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#209 of 330 metros	#20 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Billings

Professional, Scientific, and Technical Services 46.8 Finance and Insurance 55.0 Other Services 61.1 Retail Trade 64.3 Accommodation and Food Services 66.0

Real Estate and Rental and Leasing in Other Montana Metros

Great Falls 24.5 #40/330 Bozeman 65.3 #303/330

Real Estate and Rental and Leasing Metros With Similar Conditions

Metros within 5 points of Billings's 48.7 score. Useful when comparing markets with comparable entry profiles.

Medford, OR 48.6 #208/330 El Paso, TX 48.6 #207/330 Rapid City, SD 48.5 #206/330 Toledo, OH 48.8 #210/330 Augusta-Richmond County, GA 49.0 #211/330 Gettysburg, PA 48.2 #205/330 Pittsfield, MA 48.2 #204/330 Hagerstown-Martinsburg, MD 49.2 #212/330 Victoria, TX 49.3 #213/330 Midland, MI 49.3 #214/330

Real Estate and Rental and Leasing in States Bordering Montana

State-level entry risk for real estate and rental and leasing in adjacent states. Use this to weigh cross-border options.

South Dakota 26.4 #4/51 Idaho 43.4 #32/51 Wyoming 49.6 #41/51 North Dakota 54.3 #48/51

Browse Real Estate and Rental and Leasing in Other States

State-level entry risk reports for real estate and rental and leasing across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Billings's real estate and rental and leasing sector, the employment growth component (60.9) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Billings, MT MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment