RANK #634 / 1001 NAT · POP 168,957
1YR FORECAST: +0.5%
5YR OUTLOOK: +26%
Yellowstone County, Montana, is defined by the Yellowstone River, which carves through its landscape, offering both natural beauty and recreational opportunities. Located in south-central Montana, the county seat, Billings, is the state's largest city and serves as a regional hub. Commuting within Billings is primarily car-centric, though a public bus system, MET Transit, serves the city core. The area provides access to outdoor activities like hiking, fishing, whitewater rafting, and horseback riding, with destinations such as Four Dances Recreation Area near Billings and various access points to the Yellowstone River.
Life in Yellowstone County blends urban amenities with a suburban feel. The economy is diverse, with healthcare and social assistance being the largest employment sector, followed by retail trade and accommodation and food services. Major employers include Billings Clinic and St. Vincent Health Care. The county has seen recent economic growth, with investments flowing into sectors like healthcare and energy. Public schools in Yellowstone County are generally above average, and the average commute time for residents is under 20 minutes.
Yellowstone County is one of 43 U.S. counties in this market profile — stronger than typical on the BoomTown Index. Within this cohort, its recent home-price change of +1.8% runs above the profile's typical -0.0%.
See all 43 Sun Belt Exurban Boom counties →Overvalued relative to economy
Above national median
Moderate climate & terrain
Prices detached from rents
Housing looks overvalued at 10.4x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.
Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.
Bars show trailing 12-month growth. The dashed Forecast bars are the model's next-12-month projection; the whisker marks the ±1% range (cooling–accelerating).
Source: Redfin · Census BPS — Browse sales on Redfin →
Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →
Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →
| PROJECT | AMOUNT | STATUS |
|---|---|---|
|
Big Sky Campus Data Center
Quantica Infrastructure (Big Sky Digital Infrastructure)
|
$1,000M | Planned |
|
Yellowstone County Generating Station (Natural Gas Plant)
NorthWestern Energy
|
$310M | Operating |
|
MTSUN Solar Farm
Greenbacker Renewable Energy Corporation
|
$80M | Operating |
|
Beartooth Energy Storage Project
Beartooth Energy Storage, LLC (esVolta, LP)
|
$50M | Planned |
Source: public records, news, corporate announcements. Amounts are estimates where noted.
Bars show percentile rank among all 1001 counties.
At 36/100, Yellowstone County faces headwinds that place it in the lower third of the 1001 counties we track. Median income of $76,570 suggests the local economy is struggling to keep pace with national trends.
Yellowstone County leans toward the expensive side. A median home value of $349,500 against an income-to-home-value ratio of 0.22 means housing eats a bigger share of local earnings than the national norm. Renters face $1,131/month on average.
Yellowstone County's population is growing — up +1.0% YoY — while the job market is roughly flat (employment change of 0.0%). Home values shifted +1.8% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.
There's a moderate stream of newcomers. About 2.75% of residents moved from another state, which is above average and suggests Yellowstone County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.