Income Needed to Buy a Home in Billings, MT (single adult) – frugal
To meet the model’s PITI target for a median home here, you need about $80,046/yr for this household/lifestyle scenario. Compared with the local median household income, that required income is near. In this area (mid-range), the model’s rent math puts housing in a “Comfortable” bucket: rent looks comparatively manageable and homeownership (p&i) is the main lever in the estimates.
Cost-of-living tier: moderate
What drives the budget here?
This area is generally mid-range based on a cost-of-living index of 100 (U.S. average = 100). Typical rent-to-gross is in the Comfortable range (using the page’s rent and income inputs).
In the site’s estimated monthly breakdown, the largest category is Homeownership (P&I) (1,659.53/mo), so that’s the biggest lever for moving the overall budget up or down.
Practical next steps
- Rent looks comparatively manageable for the typical household. Your biggest wins usually come from planning for the non-housing categories (utilities, groceries, etc.) so totals stay predictable.
- State income tax is on the higher side in this state (6.75%). That reduces take-home pay, so “affordable” decisions should be based on net income, not just gross.
Result summary
For a Single adult with a Frugal lifestyle, the estimated income needed to buy a home in Billings, MT is:
$80,046 per year
Monthly gross: $6,670.5 · Estimated take-home: $4,654.69/mo
Target housing budget (28% PITI-to-income): $1,867.74/mo
Calculation breakdown
Median home price in Billings: $311,800.
We estimate monthly PITI (principal, interest, taxes, insurance) for this price, then solve for the gross income where PITI is 28% of gross. That base is scaled by household size and lifestyle.
Household: Single adult · Lifestyle: Frugal.
Comparison to city median income
City median household income: $71,855
Required income is near the median (1.11x). The required income is close to the city's median household income.