Estimated Monthly Payment — Median Montana Home
$3,001
Based on $450,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$450,000
Property Tax
0.84%
Avg. HOA
$175/mo
Median Rent
$1,200/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Montana housing market
Montana's housing market is moderately priced for the region, with a median home price around $450,000. Billings is the largest metro, with Missoula a close second. Montana saw substantial home price increases from out-of-state migration, particularly in Bozeman and Missoula; rural areas remain relatively affordable. Montana's effective property tax rate of 0.84% is below the national average.
The median Montana home costs $450,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $2,323, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $3,001. First-time buyers in Montana can explore programs through Montana HFA.
Photo by Hans Hamann on Unsplash
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FAQ
Montana mortgage FAQs
What's the property tax rate in Montana?
Montana's effective property tax rate averages about 0.84% — below the national average. On a $450,000 home, that's roughly $315/month or $3,780/year.
How much do I need to earn to afford a typical Montana home?
Using the 28/36 rule, a buyer would need roughly $113,000–$144,000 in gross annual income to comfortably afford Montana's $450,000 median home with 20% down at current rates.
What first-time buyer programs are available in Montana?
Montana Housing offers the Regular Bond program and Bond Advantage program offering down payment assistance up to $15,000 for income-eligible buyers. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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