Home Insurance in Billings, Montana
The median home value in Billings is $343,400, close to the Yellowstone County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Billings was built around 1980. About 26% of homes were built before 1960, about 3 points above Yellowstone County's 23%.
The housing stock in Billings is 69% single-family homes, 14% apartments in buildings with 5+ units and 6% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
60% of owner-occupied homes in Billings carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 65% of occupied homes in Billings are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
73% of homes in Billings are primarily heated with natural gas.
Yellowstone County had 280 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Very High). See the full Yellowstone County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Montana carries a statewide average premium of $1,768 per year.
Key figures
| Median home value | $343,400 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 65% |
| Share of owner-occupied homes with a mortgage | 60% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Yellowstone County | 280 |
| Home insurance premium | $1,768 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)