Montana has experienced some of the most dramatic home price appreciation in the country over the past five years, with Bozeman in particular transforming from a mid-priced college town into one of the most expensive small cities in the United States — driven by remote workers, tech sector relocation, and outdoor lifestyle demand. The statewide median home price now approaches $467,000. Montana has no sales tax, and its property tax rate of 0.84% is below average, but homeowners insurance costs have risen sharply due to wildfire risk.
Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
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20.0% of home price
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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Used for Conventional PMI estimates and FHA minimum down rules
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Extra payments reduce balance faster and can end PMI sooner.
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Principal & Interest • Tax • Insurance • PMI • HOA
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Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
Montana Mortgage Calculator Guide
Buying a home in Montana requires understanding local costs. The median home price in the state sits around $467,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because Montana has an average property tax rate of 0.84%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in Montana averages $2,100 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in Montana.
Montana's average property tax rate of 0.84% is below the national average of 1.07%. Montana has no statewide sales tax, which provides meaningful cost-of-living relief. Property is assessed at a percentage of market value, and the state offers an Elderly Homeowner and Renter Credit for qualifying seniors. On a $467,000 home, annual property taxes average approximately $3,923. Homeowners insurance has risen significantly due to increasing wildfire risk across the state.
Frequently Asked Questions
Bozeman has become one of the hottest real estate markets in the country due to a combination of remote worker migration, tech sector growth (several major tech companies have offices or have relocated there), proximity to world-class outdoor recreation (Yellowstone, Big Sky), Montana State University, and extremely limited housing supply. Median home prices now exceed $720,000, a dramatic shift from its historical profile as an affordable college town.
Montana's average property tax rate is 0.84%, below the national average of 1.07%. The state has no sales tax, which reduces overall cost of living. On a $467,000 home, annual property taxes average approximately $3,923. Note that homeowners insurance rates have risen significantly due to wildfire risk.
Montana Housing (MBOH) offers the Regular Bond Program with below-market mortgage rates, the Bond Advantage Down Payment Assistance program providing up to 5% of the loan amount, and the 80% Combined Program for buyers with lower incomes. Income and purchase price limits apply, and completion of a homebuyer education course is required.
Montana's statewide median is approximately $467,000. Bozeman far exceeds this at $720,000+, Missoula is near $510,000, and Billings offers more affordability at around $390,000. Rural Montana and the eastern part of the state remain significantly more affordable than the western corridor.
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