Total monthly cost of ownership
Cost to Own a Home in Salmon, Idaho
A $198,000 home here costs
$1,577per 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 $67,500 a year.
A standard mortgage calculator would have told you $1,079. The real number is $498 higher every month, 46% more than the payment most buyers budget for.
Compare Lemhi County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Salmon from a five-year rolling sample, and with about 3,196 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 Lemhi 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.
Salmon against Lemhi County and Idaho
| Measure | Salmon | Lemhi County |
|---|---|---|
| Median home value | $198,400 | $282,100 |
| Median property tax | $1,205 | $1,109 |
| Effective tax rate | 0.607% | 0.393% |
| Median gross rent | $584 | $721 |
| Population | 3,196 | 8,166 |
The weather behind that power bill
Salmon sits in Lemhi County, which averages a high of 86.9°F in its hottest month and a low of 10.7°F in its coldest, with 6.93" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 312 cooling and 7,795 heating degree days, which is what sets the $126 electricity line above.
See the full climate breakdown for Lemhi County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Lemhi County
No other places of this size are published in Lemhi County.
Talk to someone who works this market
These are Salmon 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 Salmon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Salmon I already own here and may sell
Common questions
How much does it cost to own a home in Salmon?
A $198,000 home in Salmon, Idaho costs approximately $1,577 per month with 20% down at 7.24%. That is $1,079 principal and interest, $100 property tax, $38 homeowners insurance, $194 utilities and $165 set aside for maintenance.
What is the property tax rate in Salmon?
Salmon has an effective property tax rate of 0.607%, based on a median home value of $198,400 and median real estate taxes of $1,205. That is higher than the Lemhi County average of 0.393%.
What is the average home price in Salmon?
The median owner-occupied home value in Salmon, Idaho is $198,400, against $282,100 across Lemhi County.
Is it cheaper to rent or buy in Salmon?
Median gross rent in Salmon is $584 a month, against $1,577 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 Salmon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Salmon, Idaho at today's rate takes a household income of roughly $67,500 a year. That covers the full $1,577 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Salmon, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Idaho.
- 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.