United States · Montana

Montana mortgage calculator

Estimate your monthly payment in Montana — principal & interest, property tax, and insurance — using the live national average rate and Montana's estimated ~0.83% effective property tax rate. Adjust any figure below.

Affording a home in Montana

Very difficult

Median home price: $450,000
Income needed: $130,000; to qualify (28% rule, 20% down)
Typical household income: $62,000
Income gap: +$68,000

A median Montana home costs $450k and needs $68k more annual income than the typical household earns.

Data as of 2026-06-30. Sources: Zillow ZHVI, U.S. Census ACS, Splitero. Median is a statewide figure — expensive cities and more affordable rural areas vary widely.

Most Montana buyers combine two incomes — here's why

The typical Montana household earns $62,000/year. To buy a median-priced home, lenders generally want to see $130,000/year. That's a $68,000 gap — which is why many Montana buyers combine two incomes, choose a smaller first home, or put down a larger deposit to reduce the loan. None of these is the wrong choice; knowing the gap is the starting point.

The roles and income paths that commonly reach it in Montana are listed below — some single high-earning roles, some two incomes combined.

Roles and income paths that commonly meet the income in Montana

Healthcare professional + partner
Tech remote worker
Dual income required

Pay varies widely by employer, experience, and city — these are paths that often (not always) reach the income needed, not a guarantee for any individual. Entries like “+ partner income” mean two incomes combined.

First-time buyer programs available in Montana

MBOH Bond Advantage Down Payment Assistance

Programs and their terms change — verify current availability and eligibility with the official state housing agency before relying on any of these.

What makes Montana legally different for homebuyers

Montana has gone from an affordable rural state to one of the least affordable relative to income in the entire country — requiring 8.7 years of median household income to buy a typical home, surpassing California. This dramatic shift is entirely due to pandemic-era migration driving prices above what local incomes can sustain.

If you buy here

Montana's affordability crisis is real and recent. If you're relocating to Montana with remote income, you're in a much better position than a local buyer on a local salary. If you're a local buyer, explore programs through the Montana Board of Housing carefully.

Foreclosure: nonjudicial, ~5 mo
Post-sale redemption: None
Anti-deficiency protection: No

General overview only — laws change and individual situations vary. Consult a real estate attorney for advice specific to your purchase. (Verified 2026-06-30.)

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Loan details

Understanding your numbers before you sign.

A mortgage is likely the largest financial commitment of your life. The Mortgage Ledger was built so you can explore what that commitment actually looks like — payment by payment, line by line — before you're sitting across from a lender.

Rates sourced from FRED (Federal Reserve Bank of St. Louis). Estimates only — not a loan offer.

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