The typical owner-occupied home in Hays is worth about $59,200, 84% below the Montana median of $375,800 and 82% below the national median of $332,700. The median household earns $52,250 a year, so the median home costs 1.1 times the median income (5.2 times for Montana). 49% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Hays at a glance
| Hays | Montana | U.S. | |
|---|---|---|---|
| Median home value | $59,200 | $375,800 | $332,700 |
| Median property tax paid per year | – | $2,693 | $3,119 |
| Median household income | $52,250 | $72,509 | $80,734 |
| Homes lived in by their owners | 49% | 69% | 65% |
| Owner homes with a mortgage | 10% | 55% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,798 | $1,963 |
| Median rent | $625 | $1,081 | $1,413 |
| Rent as a share of renters' income | 10.9% | 27.8% | 30.6% |
| Median year homes were built | 1981 | 1981 | 1980 |
| Vacant homes | 11.9% | 13.2% | 10.1% |
| Population | 1,009 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Hays
At this week's average 30-year rate of 7.11%, buying the median Hays home of $59,200 with 20% down costs about $398 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $496, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $17,037 for the 20%-down payment. That payment is 9% of the median Hays household income of $52,250; at that income and 20% down, the 28% guideline points to a home of about $182,000.
The median rent here is $625 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,840 |
|---|---|
| Loan amount | $47,360 |
| Principal and interest | $319 |
| Property taxes (1.10% a year) | $54 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $398 |
Change the numbers in the calculator
| Down payment | $2,072 |
|---|---|
| Loan amount | $58,128 |
| Principal and interest | $391 |
| Property taxes (1.10% a year) | $54 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $26 |
| Total per month | $496 |
Change the numbers in the calculator
Questions about home buying in Hays
What is the median home value in Hays?
About $59,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Hays?
For the median home with 20% down at 7.11%, the payment is about $398 a month. Keeping that under 28% of gross income takes about $17,037 a year.
More about Hays
- Mortgage Refinance in Hays
- Debt Relief in Hays
- Home Equity Loans in Hays
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data