Home values, rents and more in Shepherd, MT
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
Open Shepherd in ProMap- Under $480k
- $480k–$490k
- $490k+
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How Shepherd compares
The typical home in Shepherd, MT is worth about $474,000, according to the Zillow Home Value Index for September 2026. Home values in Shepherd are 16% above the typical value in the Billings metro area ($410,000) and 30% above the U.S. typical value ($366,000).
Over the past year, home values in Shepherd rose 2.9%, compared with +2.6% in the Billings metro area and +1.2% nationally.
The median household income is $80,125, against $77,194 in the Billings metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 353 people live in Shepherd (American Community Survey 2020–24).
Shepherd has the 9th-highest typical home value of the 20 cities in the Billings metro area and the 68th-highest of 199 in Montana with Zillow figures.
Part of: Yellowstone County, MT · Billings metro area · Montana
More for Shepherd in ProMap Plus
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- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Crime rates
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby cities
ZIP codes in Shepherd, MT
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.