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Billings, Montana

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Business Properties, L.L.C.
Last Updated: 4-Mar-2008
Market Overview
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* Click on each category for a detailed definition.

 
Population   Employment
Total Est. 2007 149,175   Total Est. 2007 86,669
Est. Growth Rate - 2012 0.95   Office Index 0.92
Income Index 0.92   Health Services Index 1.95
Affordability Index 0.97   Government Index 1.04
Education Index 1.08   Retail Services Index 1.02
Age Index 1.08   Wholesale Index 1.33
(Rent/square foot/year) Low High Effective Avg. Vacancy Investment Yield
Downtown Office
New Construction (AAA) N/A N/A N/A N/A N/A
Class A (Prime) $ 16.00 $ 22.00 $ 18.00 1.0% N/A
Class B (Secondary) $ 8.00 $ 12.00 $ 10.00 8.0% N/A
 
Suburban Office
New Construction (AAA) $ 18.00 $ 22.00 $ 20.00 5.0% N/A
Class A (Prime) $ 12.00 $ 16.00 $ 14.00 5.0% N/A
Class B (Secondary) $ 9.00 $ 12.00 $ 10.00 5.0% N/A
 
Industrial
Bulk Warehouse $ 2.25 $ 4.75 $ 3.00 6.0% N/A
Manufacturing $ 3.50 $ 6.00 $ 5.00 4.0% N/A
High Tech / R&D $ 16.00 $ 18.00 $ 17.00 N/A N/A
 
Retail
Downtown $ 8.00 $ 14.00 $ 12.00 7.0% N/A
Neigborhood Service Centers $ 8.00 $ 12.00 $ 10.00 5.0% N/A
Community Power Center $ 14.00 $ 18.00 $ 16.00 N/A N/A
Regional Malls $ 18.00 $ 24.00 $ 21.00 3.0% N/A

Development Land Low (price/acre) High (price/acre)
Office in CBD (per buildable acre) $ 1,219,680 $ 1,742,400
Land in Office Parks $ 196,020 $ 239,580
Land in Industrial Parks $ 141,570 $ 206,910
Office/Industrial Land - Non-park $ 98,010 $ 119,790
Retail/Commercial Land $ 261,360 $ 522,720
Residential $ 60,000 $ 174,240

 

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