How Much House Can I Afford in Montana on $60K?
Based on Montana's 0.74% property tax rate and $2,100/yr homeowners insurance.
Can You Afford the Median Home in Montana?
The median home in Montana ($430K) exceeds your $194K budget by $236K. But many areas in Montana have homes well below the median. Check the affordable cities below for areas within your budget.
Most Affordable Cities in Montana
No tracked cities in Montana have a median below your $194K budget. Here are the most affordable options.
Up to $15,000 DPA. First-time buyers in Montana should explore this program to reduce upfront costs. Combined with your $194K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in Montana on $60K
In Montana, your $60K salary stretches further than the national average. Because Montana's 0.74% property tax rate is below the national average of 1.1%, your maximum affordable price is $194K — that is $5K more than the $189K you would get using national averages. Lower property taxes mean a smaller slice of your monthly payment goes to the county, leaving more room for the mortgage itself.
Montana's combination of 0.74% property taxes and $2,100/yr insurance puts it in the moderate-cost category. Your $194K budget gives you a solid starting point, though you will be looking below the $430K state median. Focus on cities and neighborhoods where your budget represents strong buying power — in many parts of Montana, $194K buys a well-maintained home in a good school district.
Budget $6K for closing costs in Montana (roughly 1.5% of the purchase price). Combined with your $19,428 down payment, you will need approximately $26K in cash to close. MBOH Regular Bond Program may help offset these costs — contact them early in the process to understand eligibility and timelines. Get pre-approved with a Montana-based lender who understands local programs and can close efficiently.