CALCMONEY // HOME AFFORDABILITY // MT // MISSOULA
How much house can you afford in Missoula? Based on local median home prices, current MT mortgage rates, and Missoula property tax data.
$460,000
$2,953/mo
$126,577/yr
$175,461
Monthly housing costs of $2,953 represent 57.2% of Missoula's median gross monthly income ($5,167/mo). At 57.2%, median-income buyers in Missoula are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $460,000 |
| Down Payment (20%) | $92,000 |
| Loan Amount | $368,000 |
| Monthly PI Payment | $2,436 |
| Monthly Property Tax | $326 |
| Monthly Insurance Est. | $192 |
| Total Monthly PITI | $2,953 |
| Housing Cost % of Income | 57.2% |
| Required Income (28% rule) | $126,577/yr |
| Max Affordable Home | $175,461 |
$16,100
$3,770/mo
Missoula Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $460,000 | Missoula city median |
| Down Payment (20%) | $92,000 | Conventional loan |
| Monthly PITI | $2,953 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $126,577 | Annual gross |
| Max Affordable Home | $175,461 | Based on median income |
| FHA Down (3.5%) | $16,100 | Minimum FHA |
| Housing Cost % of Income | 57.2% | Median income: $62,000/yr |
| Property Tax Rate | 0.85% | $3,910/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Missoula is $460,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $368,000, generating a monthly P&I payment of $2,436. Adding property taxes ($326/mo) and homeowners insurance ($192/mo) brings total monthly PITI to $2,953.
Missoula's property tax rate of 0.85% is near the national average, adding a standard increment to monthly housing costs. On the Missoula median home, that is $326/month, or $3,910 per year.
Montana levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Missoula 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 Missoula's median income of $62,000/year can afford up to $1,447/month in total housing costs. Based on Missoula's mortgage rate of 6.95% and property tax rate of 0.85%, that translates to a maximum affordable home price of approximately $175,461 with 20% down on a 30-year loan.
To afford the median Missoula home priced at $460,000, you need an annual gross income of approximately $126,577. Total monthly housing costs (principal and interest of $2,436, property taxes of $326, and insurance of $192) come to $2,953/month, which equals 28% of the required income.
At the median home price of $460,000 and median household income of $62,000, the total monthly housing cost of $2,953 represents 57.2% of gross monthly income. This is well above the standard 28% threshold, making Missoula a challenging market for buyers at median income.
A conventional 20% down payment on the median Missoula home of $460,000 is $92,000. An FHA loan requires just 3.5% down — $16,100 — but adds mortgage insurance of roughly $314/month, bringing total FHA payments to $3,770/month.