Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Minnesota and Montana. Updated for 2026.
Minnesota wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $335K and lower overall costs, Minnesota 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 Minnesota saves you approximately $529/month ($6,348/year) compared to Montana, based on median home prices with identical loan terms.
Minnesota offers meaningfully lower home prices than Montana, with median prices running 22% less ($95K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Montana may find Minnesota far more accessible, particularly when combined with local down payment assistance programs.
Montana has a moderate property tax advantage at 0.74% versus Minnesota's 1.12%. While the rate gap of 0.38% may seem small, it translates to an annual difference of approximately $570 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $5K in savings.
Both states offer down payment assistance for first-time buyers. Minnesota's Minnesota Housing Start Up provides Up to $18,000 deferred loan, 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: Minnesota and Montana are broadly similar in housing costs, with only $529/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.