Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Montana and Washington. Updated for 2026.
Montana wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $430K and lower overall costs, Montana offers meaningful savings compared to Washington. 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.
The monthly payment difference is $1,076/month — that’s $12,912/year or $387K over the life of a 30-year loan. Buying in Montana is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in Washington, you need a household income of approximately $177K/year. In Montana, you need $131K/year — less by $46K/year. That $46K income gap means Montana is accessible to a significantly wider range of households.
Montana offers meaningfully lower home prices than Washington, with median prices running 26% less ($150K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Washington may find Montana far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Montana: 0.74%, Washington: 0.98%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Both states offer down payment assistance for first-time buyers. Montana's MBOH Regular Bond Program provides Up to $15,000 DPA, while Washington's WSHFC Home Advantage offers Up to $10,000 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: Montana and Washington are broadly similar in housing costs, with only $1,076/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.