Last checked October 29, 2026.
Laurel, 15 miles west of Billings, offers cheaper housing within commuting distance: a single adult needs about $36,600 a year at the Census median 1-bedroom rent.
At a glance
| Population | 7,205 (July 2025 Census estimate) |
| Region | Southeast Montana, Yellowstone County |
| Median rent paid, Census | $789 for a 1-bedroom; $754 for a 2-bedroom (utilities included; 2020–2024 average) |
| Home prices | $336,790 median sale (Redfin, 3 months ending Sep 2026); $377,680 typical value (Zillow, Sep 2026) |
| Median home value, Census | $235,100 (2020–2024) |
| Median household income, Census | $68,474 (2020–2024) |
| Income needed, own 1-bedroom | $36,617 at the Census median 1-bedroom rent |
| Electric and gas | NorthWestern Energy electric (3,381 residential customers in Laurel in 2025, per its annual report to the Montana PSC); Montana-Dakota Utilities gas (communities served) |
| Resort tax | None |
| Hospital / airport | Nearest hospitals in Billings / Billings Logan International (BIL) |
Rent
Zumper’s Laurel page gives conflicting figures, so we rely on Census figures here.
The Census American Community Survey puts the median rent actually paid in Laurel at $789 for a 1-bedroom and $754 for a 2-bedroom, including utilities (Census ACS 2020–2024). That’s an average over five years and includes long-time tenants, so it runs below what a new renter is quoted today.
Buying a home
Redfin’s median sale price was $336,790 for the three months ending September 2026, up 4.7% (Redfin), about $50,000 below Billings. See property tax for the 2026 homestead rate.
Monthly budget, own 1-bedroom
| Rent (Census median 1-bedroom rent, utilities included) | $789 |
| Car, paid off | $441 |
| Groceries, health premium, phone and internet, eating out, renters insurance, other | $1,018 |
| Total | $2,248 |
| Salary needed with 10% saved, after taxes | $36,617 ($17.60 an hour) |
Same budget as our salary calculator; the car and other lines are explained there. Current asking rents are likely higher than the Census median.