In Montana, the median home costs $523K and the median household income is $75K/year. Find out how much house you can afford based on your income, debts, and down payment. Formula shown, sources cited — no account required.
Montana's affordability has deteriorated significantly since 2020. At a median home price of $523,000 against a median household income of $75,340, the price-to-income ratio reaches nearly 6.9 times — the most stretched in this dataset alongside Massachusetts. A 10% down payment requires $52,300 in cash, and the MBOH Bond Advantage program can assist qualifying buyers in reducing that barrier. Property taxes at 0.84% provide some relief on the monthly side, and Montana's lack of a sales tax saves money on purchases outside the home transaction. But the core challenge is price: Bozeman in particular has seen California-level appreciation without California-level wages among local residents. Markets in Great Falls, Billings, and eastern Montana communities offer meaningfully lower prices and better income-to-price ratios. Buyers who can be flexible on location will find dramatically better affordability outside the resort-corridor. Remote workers with portable higher incomes are far better positioned to buy here than local-wage earners. Use the affordability calculator to find the price range that fits your specific income and savings in the Montana market.
How Much House Can You Afford in Montana?
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Montana's median income of $75,340/year ($6,278/month), that means a maximum housing payment of roughly $1,758/month.
At 6.51% over 30 years with a 10% down payment ($52,300), that monthly budget supports a purchase price of approximately $496,850–$523,000. The median home price in Montana is $523,000, which means housing is near the national average.