The typical owner-occupied home in Gallatin County is worth about $667,600, 78% above the Montana median of $375,800 and 2.0 times the national median of $332,700. Owners pay a median $3,933 a year in property taxes, about 0.59% of their home's value, lower than the Montana rate of 0.72%. The median household earns $93,528 a year, so the median home costs 7.1 times the median income (5.2 times for Montana). 61% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Gallatin County at a glance
| Gallatin County | Montana | U.S. | |
|---|---|---|---|
| Median home value | $667,600 | $375,800 | $332,700 |
| Median property tax paid per year | $3,933 | $2,693 | $3,119 |
| Property tax as a share of value | 0.59% | 0.72% | 0.94% |
| Median household income | $93,528 | $72,509 | $80,734 |
| Homes lived in by their owners | 61% | 69% | 65% |
| Owner homes with a mortgage | 62% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $2,299 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 22.6% | 21.9% | 21.0% |
| Median rent | $1,694 | $1,081 | $1,413 |
| Rent as a share of renters' income | 29.1% | 27.8% | 30.6% |
| Median year homes were built | 1998 | 1981 | 1980 |
| Vacant homes | 11.0% | 13.2% | 10.1% |
| Population | 124,074 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Gallatin County
At this week's average 30-year rate of 7.11%, buying the median Gallatin County home of $667,600 with 20% down costs about $4,199 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,311, 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 $179,965 for the 20%-down payment. That payment is 54% of the median Gallatin County household income of $93,528; at that income and 20% down, the 28% guideline points to a home of about $347,000.
The median rent here is $1,694 a month, so owning the median home costs about $2,505 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $133,520 |
|---|---|
| Loan amount | $534,080 |
| Principal and interest | $3,593 |
| Property taxes (0.59% a year) | $328 |
| Homeowners insurance (our estimate, 0.5% a year) | $278 |
| PMI | $0 |
| Total per month | $4,199 |
Change the numbers in the calculator
| Down payment | $23,366 |
|---|---|
| Loan amount | $655,508 |
| Principal and interest | $4,410 |
| Property taxes (0.59% a year) | $328 |
| Homeowners insurance (our estimate, 0.5% a year) | $278 |
| FHA mortgage insurance | $295 |
| Total per month | $5,311 |
Change the numbers in the calculator
Questions about home buying in Gallatin County
What is the median home value in Gallatin County?
About $667,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gallatin County?
Homeowners pay a median $3,933 a year, which is about 0.59% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Gallatin County?
For the median home with 20% down at 7.11%, the payment is about $4,199 a month. Keeping that under 28% of gross income takes about $179,965 a year.
More about Gallatin County
- Mortgage Refinance in Gallatin County
- Debt Relief in Gallatin County
- Home Equity Loans in Gallatin County
- 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