Calculate Your Montana Mortgage Payment
Our calculator is pre-filled with Montana's median home price and property tax rate. Adjust the numbers to match your situation.
Open Calculator with MT DefaultsMonthly Payment Breakdown for Montana
Here's what your monthly payment looks like on the median Montana home ($485,000) with 20% down at 6.5%:
Note: This estimate assumes 20% down payment ($97,000), no PMI. With less than 20% down, add $162-$323/month for PMI.
Montana Property Taxes
Montana's effective property tax rate is 0.72%, which is below the national average of 0.89%.
Annual Property Tax on $485,000 Home
$3,492
($291/month escrowed)
Property Tax Rates by County
Property tax rates in Montana vary significantly by county, from 0.41% to 0.87%:
Lowest Rates
Highest Rates
Buying a Home in Montana: Key Facts
- Property tax rate of 0.72% is below national average
- Bozeman area has seen significant price appreciation
- No sales tax in Montana, reducing cost of buying a home
- Montana Board of Housing serves all 56 counties
Mortgage Calculators for Nearby States
Comparing homes across state lines? Check property taxes and home prices in neighboring states:
Montana First-Time Homebuyer Programs
Montana has 18 homebuyer assistance programs that can help with down payment and closing costs.
Montana Board of Housing First-Time Program
Below-market 30-year fixed rates
Low-Interest MortgageMBOH Down Payment Assistance
Up to $10,000 at 2% interest, 10-year term
Low-Interest Loan80% Bond Program
For buyers at 80% AMI or below
Low-Interest MortgageEligibility requirements typically include income limits, credit score minimums (usually 620+), and homebuyer education courses. Visit DownPaymentResource.com to search for programs you may qualify for.
Official resource: Montana Board of Housing — visit for the latest program details, eligibility requirements, and application information.
Home Prices by City in Montana
Home prices and property taxes can vary significantly by city. The median home price of $485,000 is a statewide average.
| City | Median Home Price | Est. Monthly Payment* |
|---|---|---|
| Billings | $380,000 | $2,349/mo |
| Missoula | $572,000 | $3,435/mo |
| Great Falls | $390,000 | $2,406/mo |
| Bozeman | $665,000 | $3,962/mo |
| Butte | $340,000 | $2,123/mo |
*20% down, 6.5% rate, 30-year fixed, includes property tax and insurance estimate.
Montana Mortgage FAQ
What is the property tax rate in Montana?
The average effective property tax rate in Montana is 0.72%. On a $485,000 home, that's approximately $3,492 per year or $291 per month added to your mortgage payment.
What is the median home price in Montana?
The median home price in Montana is $485,000 as of January 2026. Prices vary by location - Billings and Missoula typically have higher prices than rural areas.
Are there first-time homebuyer programs in Montana?
Yes, Montana has 18 homebuyer assistance programs. Popular options include Montana Board of Housing First-Time Program, which offers below-market 30-year fixed rates.
How much do I need to buy a house in Montana?
For the median Montana home ($485,000), you'd need $97,000 for a 20% down payment, plus $14,550-$24,250 for closing costs. With down payment assistance, you could potentially buy with as little as $16,975 (3.5% FHA down payment).
What makes Montana's housing market unique compared to other Western states?
Montana has experienced one of the steepest affordability declines in the nation, with median home prices jumping nearly 90% from 2018-2023. The state went from affordable rural living to having one of the least affordable housing markets, driven by significant in-migration — nearly 20,000 net movers in 2020-2021 compared to about 6,300 annually before the pandemic.
How does Montana's property tax system work for primary residences?
Montana uses a graduated property tax system introduced in 2025. For primary residences, the first $400,000 of assessed value is taxed at 0.76%, the next $1.1 million at 1.1%, and anything above $1.5 million at 2.2%. To qualify for the reduced homestead rate, you must occupy your Montana home as your principal residence for at least 7 months per year.
Are there special programs for rural Montana homebuyers?
Yes, Montana homebuyers in designated rural areas can access USDA loans requiring zero down payment and no PMI. The Montana Board of Housing also offers down payment assistance up to 5% of the sale price (maximum $15,000) and first-time buyers may qualify for a Mortgage Credit Certificate providing a dollar-for-dollar federal tax credit equal to 20% of annual mortgage interest.
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