Total monthly cost of ownership
Cost to Own a Home in Libby, Montana
A $219,000 home here costs
$1,770per 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 $76,000 a year.
A standard mortgage calculator would have told you $1,194. The real number is $576 higher every month, 48% more than the payment most buyers budget for.
Compare Lincoln County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Libby from a five-year rolling sample, and with about 2,948 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 Lincoln 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.
Libby against Lincoln County and Montana
| Measure | Libby | Lincoln County |
|---|---|---|
| Median home value | $218,500 | $258,700 |
| Median property tax | $1,409 | $1,499 |
| Effective tax rate | 0.645% | 0.579% |
| Median gross rent | $679 | $810 |
| Population | 2,948 | 20,656 |
The weather behind that power bill
Libby sits in Lincoln County, which averages a high of 89.5°F in its hottest month and a low of 21.5°F in its coldest, with 19.15" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 379 cooling and 6,774 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Lincoln County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lincoln County
Full Lincoln County cost breakdown · Every county in Montana
Talk to someone who works this market
These are Libby 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 Libby every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Libby?
A $219,000 home in Libby, Montana costs approximately $1,770 per month with 20% down at 7.24%. That is $1,194 principal and interest, $118 property tax, $75 homeowners insurance, $201 utilities and $183 set aside for maintenance.
What is the property tax rate in Libby?
Libby has an effective property tax rate of 0.645%, based on a median home value of $218,500 and median real estate taxes of $1,409. That is higher than the Lincoln County average of 0.579%.
What is the average home price in Libby?
The median owner-occupied home value in Libby, Montana is $218,500, against $258,700 across Lincoln County.
Is it cheaper to rent or buy in Libby?
Median gross rent in Libby is $679 a month, against $1,770 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 Libby?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Libby, Montana at today's rate takes a household income of roughly $76,000 a year. That covers the full $1,770 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Libby, 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.