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Yellowstone County, MT: population growth, jobs and income

Yellowstone County gained 1,144 residents between 2024 and 2025 (+0.7%).

Yellowstone County had an estimated 172,692 residents in 2025, up 4.5% (7,484 more people) since 2020. That is slower than Montana as a whole (+5.3%), and the 22nd fastest growth of 52 counties in Montana.

Data as of 2025 · updated

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In the Yellowstone County report

One-time $99 PDF: everything on this page for Yellowstone County, ranked against Montana and the U.S., plus these figures that are not on the free page:

  • Median gross rent$1,131/mo2020–24
  • Vacant homes, incl. seasonal and second homes5.8%2020–24
  • New homes permitted, last 12 months8452025-10/2026-09
  • Rent growth, 5 yearsIn the report
  • Permits in 5+ unit buildingsIn the report
  • IRS income moving in (net AGI)In the report
  • Neighbouring-county comparison tableIn the report

What's inside: 5 pages

  1. 1 Summary, headline numbers and ranks (free preview)
  2. 2 Ranks and the neighbouring-county table
  3. 3 Migration, with IRS mover and income flows
  4. 4 Rent, vacant homes, permits and employers
  5. 5 Every source and the methods
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Headline numbers

What the numbers say

Net domestic migration added 868 people in 2025: more people moved in from other U.S. counties than moved out.

Private employers had 75,637 paid employees in mid-March 2023, +7.8% since 2018 (County Business Patterns).

Unemployment averaged 3.2% in 2025.

Builders were authorized to start 997 new homes in 2025, or 5.8 per 1,000 residents.

Median household income was $76,570 in the 2020–24 American Community Survey, +22.3% since 2016–20.

Across the 3,107 U.S. counties with a comparable estimate, its population growth ranks 690th.

Part of the Billings, MT metro area.

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Yellowstone County population by year

Resident population, July 1 estimate (Census Bureau)
YearPopulationChange
2025172,692+1,144
2024171,548+980
2023170,568+825
2022169,743+2,299
2021167,444+2,236
2020165,208–

Census Bureau population estimates, July 1 of each year.

What drove the change in Yellowstone County

Yellowstone County grew by 7,484 people since 2020; the largest part came from domestic migration (+6,685).

Components of population change, people (Census Bureau)
Component20252020–25Share
Natural changebirths minus deaths+115+46
International migrationfrom and to other countries+151+705
Domestic migrationfrom and to other U.S. counties+868+6,685
Census adjustmentbalancing residual+10+48
Total change+1,144+7,484

Census Bureau population estimates, components of change, each year July 1 to June 30. The components add up to the change in the estimate; the Census adjustment is the small balancing figure the Bureau publishes.

How it ranks

MeasureIn MontanaAmong U.S. counties
Population growth22nd of 52690th of 3,107
Net domestic migration per 1,000 residents22nd of 521,066th of 3,108
Private-sector job growth20th of 52895th of 3,092
Median household income7th of 52740th of 3,107
Lowest unemployment rate28th of 52597th of 3,108
New homes permitted per 1,000 residents5th of 44495th of 3,005

1st = highest (lowest for unemployment). Counties are ranked only against others with a figure for the same period.

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The County Growth and Demographics Report for Yellowstone County, MT as a PDF, from federal data: population and migration, housing and rents, permits, private employers and jobs, unemployment, ranks in the state and the country, and neighbouring counties, with a source next to every number. Pay once, no subscription.

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Neighbouring counties

Over 2020–25, Yellowstone County's population change (+4.5%) was ahead of 2 of its 5 neighbouring counties with a comparable figure and behind 3.

2 of its 7 neighbouring counties had a higher median household income than Yellowstone County's $76,570 (2020–24).

Yellowstone County, MT and its 7 neighbouring counties: public federal figures
CountyPopulation2025Population change2020–25Net domestic migration per 1,000 residents2025Homes permitted per 1,000 residents2025Median household income2020–24
Yellowstone County, MT This county172,692+4.5%5.05.8$76,570
Musselshell County, MT5,582+17.6%25.81.3$58,920
Golden Valley County, MT844–––$58,333
Stillwater County, MT9,445+5.0%2.30.0$84,732
Carbon County, MT11,466+9.1%−4.12.8$80,261
Big Horn County, MT12,752−2.5%−11.50.0$58,750
Treasure County, MT728–––$67,917
Rosebud County, MT8,253−0.7%−4.80.2$49,914

Census Bureau population estimates and building permits, American Community Survey 5-year income. Rates per 1,000 residents. – means no figure, or a base too small for a change or rate (it would swing on a few people). A figure from another period shows its year and is left out of the comparison.

All 56 Montana counties · Every state

Questions

Is Yellowstone County growing?

Yes. Its population grew 4.5% between 2020 and 2025, about 7,484 more people (Census Bureau population estimates). Montana as a whole changed +5.3% over the same years. That ranks 22nd of 52 counties in Montana for population growth.

How many people moved to Yellowstone County?

On net, about 868 people in 2025: that many more moved in from other U.S. counties than moved out (Census Bureau net domestic migration estimate).

What is the unemployment rate in Yellowstone County?

It averaged 3.2% in 2025 (BLS Local Area Unemployment Statistics, annual average).

What is the population of Yellowstone County?

About 172,692 people, according to the U.S. Census Bureau's population estimate for July 1, 2025.

How many jobs are in Yellowstone County?

Private employers there had 75,637 paid employees in mid-March 2023, +7.8% since 2018 (Census Bureau County Business Patterns; government jobs and the self-employed are not counted).

What Beacon CRE covers in Montana

Map, parcel and listing layers cover North and South Carolina only for now. This page and the other Montana county pages carry the public federal growth figures.

Yellowstone County data alerts

Email me when Yellowstone County gets new Census numbers: population, building permits, jobs and income. About 4 emails a year, one click to stop.

We use your address only to email you when new data for Yellowstone County is out: what changed, with a link to that county's report. No newsletter, no other sales emails. Delete it any time with the link in every email. We'll email you a link to confirm first; nothing starts until you click it. Privacy notice.

Sources and method

Each number shows its own period. Changes compare the latest period with five years earlier (or the earliest period available). Beacon CRE last refreshed these figures on 2026-11-05. Figures come from public federal statistics and are informational only, not investment advice. Check the source before relying on a number. Methodology: how we compute every number. More on every layer: data sources and licences.

Jobs outside North and South Carolina use County Business Patterns (paid private-sector employees in mid-March); wages and government jobs are not included.