What’s the average mortgage payment in Montana?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Montana is around $1,657 before property taxes and insurance. On the market side, Redfin reports that home prices in Montana were down 2.8% year-over-year in November 2025. With prices falling, it should come as no surprise that more people are considering moving into Montana as opposed to leaving the state.

Overview of the Montana housing market

The median sale price of a home in Montana is roughly $530,700, according to Redfin’s statewide housing data. While prices vary by region, higher-cost areas tend to be concentrated in western Montana and around recreation-heavy markets, while some rural counties remain considerably more affordable.

Here’s a snapshot of recent median sale prices from Redfin across several Montana cities:

Factors that influence mortgage payments in Montana

Your monthly payment includes principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage^® mortgage calculator can help you see how different variables affect your payment.

Home price and down payment

Montana’s home prices are higher than many neighboring states, which can increase monthly mortgage costs, especially in high-demand counties. For example, on a $530,700 home with a 20% down payment and a 6.5% interest rate, the estimated monthly principal and interest payment is around $2,690.

Putting down less than 20% may require private mortgage insurance (PMI), which can add to the monthly payment depending on the loan and credit profile.

Mortgage rate

Your Montana mortgage rate depends on:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market conditions

Loan term

Loan length also influences your monthly payment. Most home buyers choose a 30-year or 15-year option. The 30-year mortgage option is the most common of the two and allows you to spread out payments over a longer duration while making a smaller monthly payment. The 15-year mortgage can be a better option if you can afford higher monthly payments because you’ll pay much less in total interest.

Property taxes and insurance

Montana’s property tax rate is about 0.75% ($332). Homeowners insurance in Montana averages about $319 per month. Together, property taxes and insurance can make a meaningful difference in monthly housing costs, even when principal and interest payments are similar.

How do mortgage payments in Montana compare to others in the region?

Mortgage rates are similar nationwide, but differences in home prices and local costs cause monthly payments to vary.

Montana’s average monthly payments are slightly smaller than those of its regional neighbors.

Counties with the highest mortgage payments in Montana

Mortgage payments are highest in counties with stronger demand and higher median sale prices. The counties below have the highest estimated monthly mortgage payments based on Q1 2025 median sale prices and monthly payments.

Counties with the lowest mortgage payments in Montana

More rural counties tend to have lower home prices and lower monthly mortgage payments.

How to calculate your mortgage payment

Lenders use a standard formula that factors in the loan term, interest rate, and the loan amount.

Rocket Mortgage offers a simple online mortgage calculator that lets you adjust these variables and see how your monthly payment changes. Additional tools allow you to explore refinancing options, PMI estimates, and more.

Montana-specific mortgage resources

Montana offers several programs designed to help make homeownership more accessible:

• Montana Housing: Offers first-time homebuyer programs and down payment assistance for eligible buyers.
• USDA Rural Development Loans: Many rural areas in Montana qualify for USDA loans with 0% down payment options.

Average mortgage payment in Montana FAQ

Where can I find the lowest average mortgage payments in Montana?

Wibaux County has the lowest average mortgage payments in the state, at about $610 per month.

Which county has the highest average mortgage payments in Montana?

Gallatin County has the highest estimated monthly mortgage payment, at roughly $4,600.

How much do you need to make to afford a home in Montana?

Many lenders follow the “28/36 rule,” meaning that home buyers should avoid spending more than 28% of their gross income on housing and 36% on total debt.

With Montana’s typical mortgage payment of $1,657, a household might aim to earn about $5,900 per month, or roughly $71,000 per year, depending on other monthly debts.

The bottom line: Multiple factors shape your mortgage payment in Montana

Montana’s mortgage payments vary widely by county. While some rural counties remain relatively affordable, high-demand areas, especially those near major growth hubs, can have much higher monthly costs. Understanding local market conditions and factoring in taxes and insurance can help buyers estimate a more realistic monthly budget.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.