Total monthly cost of ownership
Cost to Own a Home in Shelby, Montana
A $206,000 home here costs
$1,669per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,059. The real number is $610 higher every month — 58% 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.
Shelby against Toole County and Montana
| Measure | Shelby | Toole County |
|---|---|---|
| Median home value | $206,000 | $187,400 |
| Median property tax | $2,009 | $1,805 |
| Effective tax rate | 0.975% | 0.963% |
| Median gross rent | $769 | $753 |
| Population | 3,129 | 5,028 |
The weather behind that power bill
Shelby sits in Toole County, which averages a high of 82.2°F in its hottest month and a low of 6.1°F in its coldest, with 12.13" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 242 cooling and 8,532 heating degree days, which is what sets the $132 electricity line above.
See the full climate breakdown for Toole County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Toole County
No other places of this size are published in Toole County.
Common questions
How much does it cost to own a home in Shelby?
A $206,000 home in Shelby, Montana costs approximately $1,669 per month with 20% down at 6.66%. That is $1,059 principal and interest, $167 property tax, $71 homeowners insurance, $200 utilities and $172 set aside for maintenance.
What is the property tax rate in Shelby?
Shelby has an effective property tax rate of 0.975%, based on a median home value of $206,000 and median real estate taxes of $2,009. That is higher than the Toole County average of 0.963%.
What is the average home price in Shelby?
The median owner-occupied home value in Shelby, Montana is $206,000, against $187,400 across Toole County.
Is it cheaper to rent or buy in Shelby?
Median gross rent in Shelby is $769 a month, against $1,669 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 Shelby — 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.