Yes, billboards are typically leased on a monthly basis. Depending on the type of billboard and its location, rates usually range from $1,000 to more than $20,000 per month. Generally, billboards in major metropolitan areas cost more than those in rural areas. A billboard can also factor into the cost by the time you lease, as some billboard leases offer discounts for longer-term contracts. Additionally, many billboard companies have seasonal specials and offer discounted rates during certain times of the year.