Total monthly cost of ownership
Cost to Own a Home in Miles City, Montana
A $183,000 home here costs
$1,610per 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 $69,000 a year.
A standard mortgage calculator would have told you $998. The real number is $613 higher every month, 61% more than the payment most buyers budget for.
Compare Custer County with anywhere in America · full county breakdown
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 $133 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.
Talk to someone who works this market
These are Miles City 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 Miles City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Miles City I already own here and may sell
Common questions
How much does it cost to own a home in Miles City?
A $183,000 home in Miles City, Montana costs approximately $1,610 per month with 20% down at 7.24%. That is $998 principal and interest, $196 property tax, $63 homeowners insurance, $201 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 $1,610 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 Miles City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Miles City, Montana at today's rate takes a household income of roughly $69,000 a year. That covers the full $1,610 monthly cost, not just the mortgage payment.
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.