Mortgage Calculator & Closing Costs: Miles City, MT
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Miles City, Montana.
Median Home Price
$195K
Population
8K
Avg Monthly Rent
$780
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 Miles City.
Miles City vs Montana Median
The median home price in Miles City is $195,000, which is 55% below the Montana state median of $430,000.
Mortgage Calculator — Miles City, MT
Pre-filled with Miles City median home price and Montana tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using Montana's 0.74% tax rate and $2,100/yr insurance.
5% Down
$1,574/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $120
Insurance: $175
PMI: $108
10% Down
$1,507/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $120
Insurance: $175
PMI: $102
20% Down (No PMI)
$1,281/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $120
Insurance: $175
Income needed (28% rule): $55K/year with 20% down, $65K/year with 10% down.
Rent vs Buy in Miles City
Rent
$780/mo
vs
Buy (10% down)
$1,507/mo
Price-to-rent ratio: 20.8 — At a ratio above 20, renting may be more economical in Miles City for shorter stays. Buying costs $727 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 Miles City is $195,000, 55% below the Montana state median of $430,000. With a population of 8,410, Miles City is a smaller market where home prices tend to be more accessible than in many parts of Montana.
Property taxes in Montana average 0.74% annually. This moderate property tax rate means a $195,000 home in Miles City would carry roughly $120/month in property taxes. Homeowners insurance in Montana runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Miles City is $780/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.
Miles City offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Montana's MBOH Regular Bond Program program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Miles City.