CALCMONEY // HOME AFFORDABILITY // MT // BUTTE
How much house can you afford in Butte? Based on local median home prices, current MT mortgage rates, and Butte property tax data.
$225,000
$1,439/mo
$61,672/yr
$182,385
Monthly housing costs of $1,439 represent 33.2% of Butte's median gross monthly income ($4,333/mo). At 33.2%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $225,000 |
| Down Payment (20%) | $45,000 |
| Loan Amount | $180,000 |
| Monthly PI Payment | $1,192 |
| Monthly Property Tax | $154 |
| Monthly Insurance Est. | $94 |
| Total Monthly PITI | $1,439 |
| Housing Cost % of Income | 33.2% |
| Required Income (28% rule) | $61,672/yr |
| Max Affordable Home | $182,385 |
$7,875
$1,839/mo
Butte Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $225,000 | Butte city median |
| Down Payment (20%) | $45,000 | Conventional loan |
| Monthly PITI | $1,439 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $61,672 | Annual gross |
| Max Affordable Home | $182,385 | Based on median income |
| FHA Down (3.5%) | $7,875 | Minimum FHA |
| Housing Cost % of Income | 33.2% | Median income: $52,000/yr |
| Property Tax Rate | 0.82% | $1,845/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Butte is $225,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $180,000, generating a monthly P&I payment of $1,192. Adding property taxes ($154/mo) and homeowners insurance ($94/mo) brings total monthly PITI to $1,439.
Butte's property tax rate of 0.82% is near the national average, adding a standard increment to monthly housing costs. On the Butte median home, that is $154/month, or $1,845 per year.
Montana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Butte should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Butte's median income of $52,000/year can afford up to $1,213/month in total housing costs. Based on Butte's mortgage rate of 6.95% and property tax rate of 0.82%, that translates to a maximum affordable home price of approximately $182,385 with 20% down on a 30-year loan.
To afford the median Butte home priced at $225,000, you need an annual gross income of approximately $61,672. Total monthly housing costs (principal and interest of $1,192, property taxes of $154, and insurance of $94) come to $1,439/month, which equals 28% of the required income.
At the median home price of $225,000 and median household income of $52,000, the total monthly housing cost of $1,439 represents 33.2% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Butte home of $225,000 is $45,000. An FHA loan requires just 3.5% down — $7,875 — but adds mortgage insurance of roughly $154/month, bringing total FHA payments to $1,839/month.
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