Total monthly cost of ownership
Cost to Own a Home in Miles City, Montana
A $183,000 home here costs
$1,553per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $941. The real number is $612 higher every month — 65% 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.
Miles City against Custer County and Montana
| Measure | Miles City | Custer County |
|---|---|---|
| Median home value | $182,700 | $204,200 |
| Median property tax | $2,354 | $2,242 |
| Effective tax rate | 1.288% | 1.098% |
| Median gross rent | $932 | $918 |
| Population | 8,412 | 11,938 |
The weather behind that power bill
Miles City sits in Custer County, which averages a high of 88.7°F in its hottest month and a low of 8.9°F in its coldest, with 12.88" of precipitation a year and 53% of it in a single three-month stretch. That climate drives 731 cooling and 7,566 heating degree days, which is what sets the $132 electricity line above.
See the full climate breakdown for Custer County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Custer County
No other places of this size are published in Custer County.
Common questions
How much does it cost to own a home in Miles City?
A $183,000 home in Miles City, Montana costs approximately $1,553 per month with 20% down at 6.66%. That is $941 principal and interest, $196 property tax, $63 homeowners insurance, $200 utilities and $153 set aside for maintenance.
What is the property tax rate in Miles City?
Miles City has an effective property tax rate of 1.288%, based on a median home value of $182,700 and median real estate taxes of $2,354. That is higher than the Custer County average of 1.098%.
What is the average home price in Miles City?
The median owner-occupied home value in Miles City, Montana is $182,700, against $204,200 across Custer County.
Is it cheaper to rent or buy in Miles City?
Median gross rent in Miles City is $932 a month, against $1,553 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 Miles City — 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.