The Magic City?

Dating back to 2009 Billings has consistently ranked high in numerous Real Estate studies. At various times Montana’s largest city*, has been regarded as the best small metro area to launch a business, by CNN Money.  It has consistently placed well in the top 100 Best Places to Live in the USA by Livability.com and most recently and most notably, in February 2021 The Wall Street Journal and Realtor.com ranked Billings No. 1 in the nation on its Emerging Housing Markets Index.

Interesting to note however is that while the WSJ/Realtor.com study cited Billings , city’s “affordability and appeal to remote workers”, it is the increasing cost of of entry that has greatly contributed dropping the B Town in more recently surveys of Livability.  Specifically, from 24 in 2019, to 61 in 2020, and dropping off the list in 2021 according to Livability.com

Such is the nature of our changing world.  While Billings has always provided attraction due to its relatively low crime rates and reasonable schools as well as the industry drivers of energy and medicine; now it seems the impetus may be more keenly attributed to lifestyle and the ability to be anywhere in the world through a WIFI connection.

Median house prices have left the $250,000 barrier well behind.  For those that can afford more however, Billings still offers a reasonable “bang for buck”.  As such, if upward pressure on prices is being driven by migration, it seems logical to imagine this will continue.**  

For all of the hype and conjecture over the rising prices and the influx of out of State buyers, however, there exist opportunities in Billings.  Where other rapidly growing cities grapple with issues of infrastructure, the steady and prolonged growth of Billings has provided, at least some, breathing room. While many lament the sprawl, Billings still has space. Subdivision lots exists in reasonable numbers and at reasonable prices. 

In considering the purchase of a house or lot in Billings, consideration should be given to more than the acquisition price.  Factors relating to future market trends and predictable housing stock availability can influence equity and it is here that competent representation and advice is imperative.