Billings, the largest city in Montana, is a regional hub for commerce, healthcare, and energy. As the economic center of the state, its commercial real estate market is diverse and continues to evolve with shifting economic conditions and demand for space. While challenges such as limited high-end office space and fluctuations in the energy sector exist, there are ample opportunities in multi-family housing, industrial growth, and the adaptive reuse of older properties. Strategic investment in these areas can yield substantial returns as Billings continues to evolve as a key player in Montana’s economy.