Home Affordability for Montana (2026)
Montana (MT) Key Facts
Median Home Price
$450,000
Median Household Income
$60,000
Affordability Index
267
Price to Income Ratio
7.5
Max Affordable Payment (28% Rule)
$1,400
How This Calculator Works in Montana
This home affordability calculator estimates how much house you can afford in Montana based on your income, debts, down payment, and current interest rates. It accounts for Montana's property tax rate and insurance costs to give you a realistic maximum home price. Enter your financial details to see whether the median-priced home in Montana is within your reach.
Montana Overview
Montana has a median home price of approximately $450,000 and a median household income of $60,000, yielding a price-to-income ratio of 7.5. State income taxes in Montana reduce take-home pay, so factor your after-tax income when budgeting for a home. Property taxes average 0.84%, which meaningfully impacts monthly housing costs.
How Montana Compares
Montana's price-to-income ratio of 7.5 is above the national average of roughly 5.5. Nearby Idaho has a median price of $440,000 and median income of $62,000, yielding a ratio of 7.1. Differences in property taxes and insurance costs between states further shift the true cost of homeownership.
| State | Top Rate | Notes |
|---|---|---|
| Idaho | $440,000 | Median home price is $440,000 with a median household income of approximately $62,000. The price-to-income ratio is 7.1. |
| Wyoming | $340,000 | Median home price is $340,000 with a median household income of approximately $65,000. The price-to-income ratio is 5.2. |
| North Dakota | $250,000 | Median home price is $250,000 with a median household income of approximately $65,000. The price-to-income ratio is 3.8. |
With a median home price of $450,000 and a median household income of $60,000, Montana has a price-to-income ratio of 7.5. The national average price-to-income ratio is approximately 5.5. Montana is less affordable than the national average.
Tips for Montana Residents
- 1The median household income in Montana is $60,000. Under the 28% rule, this supports a maximum monthly housing payment of about $1,400, including principal, interest, taxes, and insurance.
- 2Montana's price-to-income ratio of 7.5 means the typical home costs 7.5 times the annual median income. This is stretched by national standards, so saving aggressively and exploring assistance programs is critical.
- 3State income taxes in Montana reduce take-home pay, so factor your after-tax income when budgeting for a home.
- 4Property taxes in Montana average 0.84%, which adds $315 per month to your housing cost on the median home. Don't overlook this when calculating affordability.
- 5Look into Montana's first-time homebuyer assistance programs, which may include down payment grants, low-interest second mortgages, or mortgage credit certificates (MCCs) that provide a federal tax credit on mortgage interest.