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Missoula, MT mortgage & affordability calculator

The typical home in Missoula, MT is worth about $490,000. With 20% down that's a loan near $392,000 — the calculator is pre-filled with that figure. The University of Montana and the town's gateway status to nearby wilderness areas have drawn a wave of remote workers and amenity migrants, pushing Missoula's prices well above Billings despite a smaller local income base. Montana's low property tax rate and lack of a sales tax don't fully offset how far home prices have outrun local wages.

$2,545.11 / month

Total interest
$524,241
Total paid
$916,241
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$98k$196k$294k$392k0612182430Year

How much you need to earn

Missoula, MT's median household income is about $65,000 a year. Under standard 28/36 lending rules that supports a home price around $249,325 with 20% down — below the $490,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$249,365 max home price

Max loan amount
$151,365
Housing payment budget
$1,517
P&I budget
$983
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Missoula, MT is about $1,500 a month, so owning the median home costs roughly $1,579 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Missoula, MT?
On the metro's roughly $490,000 typical home with 20% down, the loan is about $392,000. Principal and interest run near $2,545 a month at today's rate, and Missoula, MT's property tax plus insurance add about $534, for a full payment near $3,079.
Can I afford a home in Missoula, MT on the median income?
The median household income is about $65,000 a year. Under standard 28/36 lending rules that supports a home price around $249,325 with 20% down — below the $490,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Missoula, MT?
Typical asking rent is about $1,500 a month. The full owner payment on a median home is near $3,079, so owning costs roughly $1,579 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Missoula, MT?
The effective property tax rate in the core county is about 0.90% of market value — roughly $4,410 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Missoula, MT rising or falling?
Home values are up about 2% over the past year. The University of Montana and the town's gateway status to nearby wilderness areas have drawn a wave of remote workers and amenity migrants, pushing Missoula's prices well above Billings despite a smaller local income base. Montana's low property tax rate and lack of a sales tax don't fully offset how far home prices have outrun local wages.

Nearby metros

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