Mortgage for Montana (2026)
Montana (MT) Key Facts
Median Home Price
$450,000
Average Property Tax Rate
0.84%
Average Home Insurance Rate
0.6%
Estimated Monthly Payment
$3,167
First Time Buyer Programs
2
How This Calculator Works in Montana
This mortgage calculator lets you estimate your monthly payment on a Montana home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Montana's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Montana Overview
Montana has a median home price of approximately $430K, with an average property tax rate of 0.84% and homeowners insurance averaging 0.6% annually. No sales tax. Montana Housing Mortgage Programs and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Montana Compares
Compared to neighboring states, Montana's median home price of $450,000 is above the national median of about $420,000. Nearby Idaho has a median price of $440,000 with a 0.69% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Idaho | $440,000 | Median home price is $440,000 with a 0.69% property tax rate. Estimated monthly mortgage payment is about $3,023. |
| Wyoming | $340,000 | Median home price is $340,000 with a 0.61% property tax rate. Estimated monthly mortgage payment is about $2,313. |
| North Dakota | $250,000 | Median home price is $250,000 with a 0.98% property tax rate. Estimated monthly mortgage payment is about $1,809. |
The median home price in Montana is $450,000, compared to the national median of approximately $420,000. With a 0.84% average property tax rate and 0.6% insurance rate, Montana homeowners can expect an estimated monthly payment of about $3,167 on a median-priced home with 10% down at 6.75% interest.
Tips for Montana Residents
- 1Montana has a median home price around $430K. No sales tax. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Montana average 0.84%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore Montana Housing Mortgage Programs for potential down payment assistance and favorable rates. Montana also offers MBOH Down Payment Assistance. Check income limits and eligibility early in your home search.
- 4Rural properties may have higher closing complexity; budget for heating costs. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Large rural market. A 0.25% rate difference on a $450K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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