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The market determines rental amount.

How do you know how much rent you should pay? You don’t want to live in a slum, but you don’t want to overpay–how do you know when you’re getting a bargain and when you’re getting ripped off?

As of the time of this writing, the quick and dirty way of figuring rent in Billings, Montana is by multiplying the number of bedrooms by $300. Of course that will vary based on a variety of factors — location, condition, proximity to amenities, and the vagaries of the rental market.

You can read a breakdown of different Billings neighborhoods here, if you’re interested in finding out how location will affect your rental price.

A newer, nicer, cleaner, updated house will rent for more than an older home that hasn’t been updated in decades. If you love vintage wallpaper, you might look for an older home to rent. Just be forewarned that you’ll have to put up with ancient appliances and hardware in addition to decor, so what you make up in rent each month, you might pay in headaches with repair issues.

Nothing in Billings is too far from shopping and entertainment, so that doesn’t affect the Magic City as much as other locations. Some country rentals with land may actually command higher rental prices despite how far they are from shopping.

The rental market condition also affects how much rent you’ll pay. If there aren’t many people wanting to rent, prices will be lower. If lots of people want to rent, rents go up because demand is higher. This fluctuates with the number of rental properties available and the number of people who choose to buy versus rent.

In general, a spacious four or five bedroom home with two living areas and multiple bathrooms will go anywhere $1400 and up.

An older three or four bedroom home can go anywhere from $1000 to $1450.

Smaller homes in less desirable neighborhoods will go from $500 to $1000.

There’s a starting point if you’re wondering how much rent is fair to pay in Billings, Montana. At times it will be higher or lower, but this’ll give you an idea of what’s reasonable and ridiculous. Best of luck in your search for a home! Check out our Rental Properties page to see if we’ve got anything available that will suit your needs. If we don’t have anything open, sign up for our renters’ list so you’ll be the first to get emails about what Ampersand Property Management has newly available.

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