Total monthly cost of ownership
Cost to Own a Home in Philipsburg, Montana
A $304,000 home here costs
$2,388per 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 $102,500 a year.
A standard mortgage calculator would have told you $1,657. The real number is $731 higher every month, 44% more than the payment most buyers budget for.
Compare Granite County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Philipsburg from a five-year rolling sample, and with about 1,012 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 Granite 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.
Philipsburg against Granite County and Montana
| Measure | Philipsburg | Granite County |
|---|---|---|
| Median home value | $304,200 | $339,500 |
| Median property tax | $2,065 | $2,061 |
| Effective tax rate | 0.679% | 0.607% |
| Median gross rent | $871 | $734 |
| Population | 1,012 | 3,419 |
The weather behind that power bill
Philipsburg sits in Granite County, which averages a high of 80.8°F in its hottest month and a low of 14.3°F in its coldest, with 16.49" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 60 cooling and 8,422 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Granite County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Granite County
No other places of this size are published in Granite County.
Full Granite County cost breakdown · Every county in Montana
Talk to someone who works this market
These are Philipsburg 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 Philipsburg every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Philipsburg I already own here and may sell
Common questions
How much does it cost to own a home in Philipsburg?
A $304,000 home in Philipsburg, Montana costs approximately $2,388 per month with 20% down at 7.24%. That is $1,657 principal and interest, $172 property tax, $105 homeowners insurance, $201 utilities and $253 set aside for maintenance.
What is the property tax rate in Philipsburg?
Philipsburg has an effective property tax rate of 0.679%, based on a median home value of $304,200 and median real estate taxes of $2,065. That is higher than the Granite County average of 0.607%.
What is the average home price in Philipsburg?
The median owner-occupied home value in Philipsburg, Montana is $304,200, against $339,500 across Granite County.
Is it cheaper to rent or buy in Philipsburg?
Median gross rent in Philipsburg is $871 a month, against $2,388 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 Philipsburg?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Philipsburg, Montana at today's rate takes a household income of roughly $102,500 a year. That covers the full $2,388 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Philipsburg, 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.