Total monthly cost of ownership
Cost to Own a Home in Hamilton, Montana
A $300,000 home here costs
$2,384per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $102,000 a year.
A standard mortgage calculator would have told you $1,636. The real number is $748 higher every month, 46% more than the payment most buyers budget for.
Compare Ravalli County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Hamilton from a five-year rolling sample, and with about 4,949 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Ravalli County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hamilton against Ravalli County and Montana
| Measure | Hamilton | Ravalli County |
|---|---|---|
| Median home value | $299,800 | $435,000 |
| Median property tax | $2,328 | $2,303 |
| Effective tax rate | 0.777% | 0.529% |
| Median gross rent | $958 | $1,054 |
| Population | 4,949 | 45,807 |
The weather behind that power bill
Hamilton sits in Ravalli County, which averages a high of 81.8°F in its hottest month and a low of 19.2°F in its coldest, with 15.11" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 178 cooling and 7,589 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Ravalli County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ravalli County
Full Ravalli County cost breakdown · Every county in Montana
Talk to someone who works this market
These are Hamilton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hamilton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hamilton I already own here and may sell
Common questions
How much does it cost to own a home in Hamilton?
A $300,000 home in Hamilton, Montana costs approximately $2,384 per month with 20% down at 7.24%. That is $1,636 principal and interest, $194 property tax, $103 homeowners insurance, $201 utilities and $250 set aside for maintenance.
What is the property tax rate in Hamilton?
Hamilton has an effective property tax rate of 0.777%, based on a median home value of $299,800 and median real estate taxes of $2,328. That is higher than the Ravalli County average of 0.529%.
What is the average home price in Hamilton?
The median owner-occupied home value in Hamilton, Montana is $299,800, against $435,000 across Ravalli County.
Is it cheaper to rent or buy in Hamilton?
Median gross rent in Hamilton is $958 a month, against $2,384 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hamilton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hamilton, Montana at today's rate takes a household income of roughly $102,000 a year. That covers the full $2,384 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hamilton, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Montana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.