Income Needed to Buy a Home in Montana (2026)
Verdict: unaffordable — requires $131,484/year (#6 least affordable of 51 US states)
Montana ranks #6 of 51 US states for housing unaffordability in 2026. Buying the median home at $466,917 requires a household income of about $131,484. That's $56,144 more than the median household actually earns ($75,340) — a shortfall of 75% of typical income.
Montana's affordability ratio of 1.75 (required income ÷ actual median income) is 36.6% worse than the median across all 51 US states (1.28). Home prices here sit 34.7% above the cross-state median of $346,668.
A low 0.60% effective property tax rate keeps the monthly tax bill to $233, softening the total payment, while homeowners insurance runs about $2,801/year. All-in, the monthly PITI (principal, interest, taxes, insurance) comes to $3,068.
Montana monthly cost breakdown (2026)
| Median home price | $466,917 |
| Loan amount (10% down) | $420,225 |
| Monthly principal & interest | $2,601 |
| Monthly property tax (0.60% rate) | $233 |
| Monthly homeowners insurance | $233 |
| Total monthly PITI | $3,068 |
| Required household income | $131,484 |
| Median household income | $75,340 |
Run your own numbers
These figures model the median buyer. Your rate, down payment, and debts change the answer — check your personal maximum with the Home Affordability Analyzer or build a full payment schedule in the Advanced Mortgage Calculator. Closing costs typically add 2–5% on top — estimate them with the Closing Costs Estimator.
How Montana compares
- Rhode Island — similar affordability (ratio 1.75, requires $146,304)
- New York — similar affordability (ratio 1.76, requires $150,728)
- Massachusetts — similar affordability (ratio 1.77, requires $185,722)
- West Virginia — among the most affordable US states (requires $48,369)
- Iowa — among the most affordable US states (requires $74,199)
See every state and province ranked in the 2026 Mortgage Affordability Index.
Frequently asked questions
How much income do you need to buy a house in Montana in 2026?
About $131,484 per year to afford the median-priced home of $466,917, assuming a 10% down payment and standard 28% housing-cost-to-income guideline. The median Montana household earns $75,340.
What is the monthly cost of owning a median home in Montana?
Roughly $3,068 per month, including principal and interest, property tax, and homeowners insurance.
Is Montana affordable at the median income?
No. The required income exceeds the median household income by $56,144 (75%), ranking Montana #6 least affordable of 51 US states.
Methodology & sources
Assumes 10% down, 30-year fixed at prevailing 2026 rates, 28% housing-cost-to-income guideline. Home prices from Zillow ZHVI (March 2026); incomes from Census ACS 1-Year 2024; property taxes from Tax Foundation; insurance from Bankrate state averages. Figures model the median scenario and are not financial advice. Full sources on the affordability index.