Total monthly cost of ownership
Cost to Own a Home in Libby, Montana
A $219,000 home here costs
$1,701per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,126. The real number is $575 higher every month — 51% more than the payment most buyers budget for.
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 $132 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
Common questions
How much does it cost to own a home in Libby?
A $219,000 home in Libby, Montana costs approximately $1,701 per month with 20% down at 6.66%. That is $1,126 principal and interest, $118 property tax, $75 homeowners insurance, $200 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 $1,701 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.