Montana Mortgage Calculator

Mortgage Calculator in Montana

The median home price in Montana is $420,000, which is 0% above the national average of $420,000. Montana's effective property tax rate of 0.74% is 0.36 percentage points lower than the national average of 1.1%.

Metric	Montana (MT)	National Avg	vs National Average
Median Home Price	$420,000	$420,000	+0%
Property Tax Rate	0.74%	1.1%	-0.36%
Home Insurance (Annual)	$1,600	$2,300	-30%
State Sales Tax	0%	5%	-5.0%
FHA Loan Limit	$472,030	$472,030	Standard
Conforming Loan Limit	$766,550	$766,550	Standard

Montana offers a homestead exemption of $250,000, which reduces the taxable value of your primary residence. The state uses an assessment ratio of 100% to determine the assessed value for property tax purposes.

Homeownership in Montana

Montana's housing market was another pandemic migration story -- Missoula, Bozeman, and Kalispell saw prices surge as remote workers flooded in from California, Seattle, and other metros. Bozeman now has a median home price above $600,000, while the statewide figure around $420,000 is heavily influenced by these resort-adjacent cities. Montana has no sales tax, which lowers the cost of living for purchases but puts more burden on property and income taxes.

Tips for Montana Homebuyers and Homeowners

• Montana has no sales tax at the state or local level -- this is a meaningful ongoing savings for homeowners buying materials, appliances, and everyday goods, particularly relative to Idaho or Wyoming's border communities.
• The Principal Residence Exemption (residential availability reduction) reduces the taxable value for owner-occupied homes from 1.35% to 0.94% of market value -- a significant reduction built into the assessment formula.
• Bozeman's rapid growth has created a dual market -- properties in the city proper face intense competition from cash buyers, while communities 30 minutes away like Manhattan or Three Forks offer more reasonable prices.
• Montana has a progressive income tax with a top rate of 6.9% -- combined with no sales tax, the state's overall tax burden sits near the national median.

Montana Programs and Assistance

• Montana Board of Housing (MBOH) MBOH Plus 0% Down Loan Program -- provides a 0% interest second loan covering up to 5% of the purchase price for down payment.
• MBOH Bond Advantage Down Payment Assistance Program -- pairs a competitive first mortgage with down payment assistance for buyers in Montana.
• Montana Homeownership Network (MHN) -- nonprofit housing counseling network providing free pre-purchase education and connections to state programs.

Did you know? Bozeman, Montana has transitioned from a college town to one of the most expensive small cities in the West -- median home prices now rival Portland, Oregon, driven almost entirely by out-of-state migration from tech industry workers.