Mortgage Affordability Calculator for Montana (MT) — Free Calculator

Buying a Home in Montana: What You Can Afford

The median home value in Montana is $385,000. Montana's markets — Missoula, Bozeman, Whitefish, Helena — have seen 40-60% appreciation since 2020. The state is rapidly transitioning from affordable to premium pricing in desirable areas.

Conforming Loan Limits in Montana

The conforming loan limit in Montana is $726,200. All Montana counties are at the standard conforming limit. Loans above this threshold are considered jumbo loans and typically carry stricter qualification requirements and slightly higher rates.

Property Taxes to Budget For

Beyond your mortgage payment, budget for Montana's property taxes: the effective rate is 0.84%, meaning a home at the median value generates about $2,337/year in taxes. This is a real cost that lenders include in your debt-to-income (DTI) calculation.

Closing Costs in Montana

Buyers typically pay around $3,200 in closing costs in Montana. Montana has no state transfer tax. Closing costs are primarily driven by title insurance, escrow, and lender fees, which are moderate. Factor this into your upfront cash requirement alongside your down payment.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

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Frequently Asked Questions

What is the median home price in Montana?

The median home value in Montana is $385,000. Montana's markets — Missoula, Bozeman, Whitefish, Helena — have seen 40-60% appreciation since 2020. The state is rapidly transitioning from affordable to premium pricing in desirable areas.

What is the conforming loan limit in Montana?

The conforming loan limit in most of Montana is $726,200. All Montana counties are at the standard conforming limit.

How much are property taxes in Montana?

Montana's effective property tax rate is 0.84%, with an average annual bill of $2,337. Lenders include property taxes in your monthly PITI payment and DTI calculation.

How much do I need for a down payment in Montana?

For a home at Montana's median value of $385,000, a 20% conventional down payment is $77,000, and a 3.5% FHA down payment is $13,500. Budget an additional $3,200 for closing costs.