Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and Montana. Updated for 2026.
Michigan wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $240K and lower overall costs, Michigan offers meaningful savings compared to Montana. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in Michigan saves you approximately $1,135/month ($13,620/year) compared to Montana, based on median home prices with identical loan terms.
Michigan offers meaningfully lower home prices than Montana, with median prices running 44% less ($190K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Montana may find Michigan far more accessible, particularly when combined with local down payment assistance programs.
Montana has a moderate property tax advantage at 0.74% versus Michigan's 1.54%. While the rate gap of 0.80% may seem small, it translates to an annual difference of approximately $514 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $4K in savings.
Both states offer down payment assistance for first-time buyers. Michigan's MSHDA DPA provides Up to $7,500 DPA, while Montana's MBOH Regular Bond Program offers Up to $15,000 DPA. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Michigan homes cost $190K less than Montana on average. That translates to roughly $1,135 less per month in total housing costs if you choose Michigan. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.