Investing in Yellowstone County
Yellowstone County covers 2 rental markets we actively finance in Montana — Billings, Laurel. Across those markets the median investment basis averages $387,500, a long-term lease averages $2,150/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,594. That produces a county-wide average DSCR ratio near 0.83x.
Basis varies more inside Yellowstone County than the average suggests. Laurel is the lowest entry point at roughly $375,000, while Billings currently models the strongest coverage ratio in the county at 0.87x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.