How Does Billings Stack Up?
How does Billings stack up when compared to other cities in the region? During the recent Economic Outlook Seminar, Allison Corbyn of Big Sky EDA pointed out that with about a $50,000 annual average earnings, Billings surpasses the annual earnings of Bismarck, Casper, Great Falls and Rapid City, while lagging behind Boise, Bozeman, Cheyenne, Fort Collins and Missoula. Total personal income grew by 5.7%. Billings outperformed all major cities in the state in terms of GDP, as well as Casper, Bismarck and Rapid City. Billings GDP (amount of wealth created) was $10.2 billion from 2019 to 2020, a decline of 4.6%, undoubtedly because of COVID. When it comes to overall production Billings vies right at the top exceeded only by Boise and Fort Collins. Between 2019 and 2020 there was a 20.8% increase in the number of people moving into Billings from California. People also moved into the state primarily from Wyoming, Washington, Arizona and Colorado. 88% of the people who moved into Billings moved from other parts of the state. Billings has 82,416 jobs, an increase of 2.5% between Nov. 2019 and Nov.2021. Billings has the lowest unemployment rate in the state at 1.7%. The average home price in Billings is $350,000 which is an increase of over 20% over the past two years. Denver has the highest concentration of Billings’ graduates outside of Billings.