CALCMONEY // HOME AFFORDABILITY // MT
Find out how much home you can afford in Montana using local median home prices, current mortgage rates, and MT-specific property tax data.
Open Full Calculator$445,000
$2,865/mo
$171,867
$122,803/yr
| Median Home Price | $445,000 |
| Down Payment (20%) | $89,000 |
| Loan Amount | $356,000 |
| Monthly PI Payment | $2,368 |
| Monthly Property Tax | $312 |
| Monthly Insurance Est. | $185 |
| Total Monthly PITI | $2,865 |
| Required Gross Income (28% rule) | $122,803/yr |
| Max Affordable Price (28% rule) | $171,867 |
$15,575
$3,658/mo
Montana Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $445,000 | State median |
| Down Payment (20%) | $89,000 | Conventional |
| Monthly PITI (median home) | $2,865 | 7% rate |
| Required Income (28% rule) | $122,803 | Annual gross |
| Max Affordable Home | $171,867 | Based on median income |
| FHA Down Payment (3.5%) | $15,575 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Montana is $445,000, with a current 30-year fixed mortgage rate of 7%. A buyer putting 20% down on the median home would carry a loan of $356,000, resulting in a monthly principal and interest payment of $2,368. Once property taxes and insurance are added, total monthly housing costs reach $2,865.
Property taxes in Montana average 0.84%, near the national average of 1.1%. On the median Montana home, property taxes add $312/month to total housing costs.
Montana levies a state income tax of 4.7% flat, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Montana state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Montana's median income of $60,500/year can afford up to $1,412/month in total housing costs (principal, interest, taxes, and insurance). Based on Montana's current mortgage rate of 7% and property tax rate of 0.84%, that translates to a maximum affordable home price of approximately $171,867 with 20% down on a 30-year loan.
To comfortably afford the median Montana home priced at $445,000, you need an annual gross income of approximately $122,803. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $2,368, property taxes of $312, and insurance of $185) come to $2,865/month, which should not exceed 28% of your gross monthly income.
Montana's average property tax rate is 0.84%, which is near the national average of 1.1%. On the median Montana home of $445,000, that means annual property taxes of $3,738, or $312/month. Because lenders include property taxes in your debt-to-income calculation, Montana's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Montana home of $445,000, that is $15,575. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($89,000 on the median Montana home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Montana-specific minimum down payment requirements beyond federal guidelines.