Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bozeman, Montana.
Median Home Price
$625K
Population
53K
Avg Monthly Rent
$1,850
Property Tax Rate
0.74% *
* Property tax shown is the Montana state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bozeman.
Bozeman vs Montana Median
The median home price in Bozeman is $625,000, which is 45% above the Montana state median of $430,000.
Mortgage Calculator — Bozeman, MT
Pre-filled with Bozeman median home price and Montana tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $625K home using Montana's 0.74% tax rate and $2,100/yr insurance.
5% Down
$4,660/mo
Down: $31,250
Loan: $594K
P&I: $3,753
Tax: $385
Insurance: $175
PMI: $346
10% Down
$4,444/mo
Down: $62,500
Loan: $563K
P&I: $3,555
Tax: $385
Insurance: $175
PMI: $328
20% Down (No PMI)
$3,721/mo
Down: $125,000
Loan: $500K
P&I: $3,160
Tax: $385
Insurance: $175
Income needed (28% rule): $159K/year with 20% down, $190K/year with 10% down.
Rent vs Buy in Bozeman
Rent
$1,850/mo
vs
Buy (10% down)
$4,444/mo
Price-to-rent ratio: 28.2 — At a ratio above 20, renting may be more economical in Bozeman for shorter stays. Buying costs $2,594 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Bozeman is $625,000, 45% above the Montana state median of $430,000. With a population of 53,293, Bozeman is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Montana average 0.74% annually. This moderate property tax rate means a $625,000 home in Bozeman would carry roughly $385/month in property taxes. Homeowners insurance in Montana runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Bozeman is $1,850/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Bozeman is a higher-cost market. At $625K median, buyers need significant savings or strong income. Down payment assistance through Montana's MBOH Regular Bond Program program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bozeman.