Billings is the largest city in the state of Montana, and is the principal city of the Billings Metropolitan Area with a population of 166,855.Billings is located in the south-eastern portion of the state and is the seat of Yellowstone County, which had a 2015 population of 157,048. The 2015 Census estimates put the Billings population at 110,263, making it the only city in Montana with over 100,000 people. The city experienced rapid growth when surpassing Montana's largest city in 1970, Great Falls. Billings held the title to having the largest growth of any city in Montana. Parts of the metro area are seeing hyper growth. From 2000 to 2010 Lockwood, a census-designated place In Yellowstone County, saw growth of 57.8%, the largest growth rate of any community in Montana. Billings has avoided the economic downturn that affected most of the nation 2008–2012 as well as avoiding the housing bust. With the Bakken oil development in eastern Montana and western North Dakota, the largest oil discovery in U.S. history, as well as the Heath shale oil discovery just north of Billings, the city's already rapid growth rate is escalating.Billings was nicknamed the "Magic City" because of its rapid growth from its founding as a railroad town in March 1882. The city is named for Frederick H. Billings, a former president of the Northern Pacific Railroad.
