How Much House Can You Afford in Montana?
Lenders typically use the 28/36 rule: your monthly housing payment should not exceed 28% of gross monthly income, and total debt payments should stay under 36%. With Montana's median income of $61,000/year ($5,083/month), that means a maximum housing payment of roughly $1,423/month.
At 6.89% over 30 years with a 10% down payment ($43,000), that monthly budget supports a purchase price of approximately $408,500–$430,000. The median home price in Montana is $430,000, which means housing is near the national average.