The typical owner-occupied home in Charlo is worth about $210,800, 44% below the Montana median of $375,800 and 37% below the national median of $332,700. Owners pay a median $917 a year in property taxes, about 0.44% of their home's value, lower than the Montana rate of 0.72%. The median household earns $40,469 a year, so the median home costs 5.2 times the median income (5.2 times for Montana). 68% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Charlo at a glance
| Charlo | Montana | U.S. | |
|---|---|---|---|
| Median home value | $210,800 | $375,800 | $332,700 |
| Median property tax paid per year | $917 | $2,693 | $3,119 |
| Property tax as a share of value | 0.44% | 0.72% | 0.94% |
| Median household income | $40,469 | $72,509 | $80,734 |
| Homes lived in by their owners | 68% | 69% | 65% |
| Owner homes with a mortgage | 33% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,302 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 21.9% | 21.0% |
| Median rent | $843 | $1,081 | $1,413 |
| Rent as a share of renters' income | 30.8% | 27.8% | 30.6% |
| Median year homes were built | 1974 | 1981 | 1980 |
| Vacant homes | 4.5% | 13.2% | 10.1% |
| Population | 306 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Charlo
At this week's average 30-year rate of 7.11%, buying the median Charlo home of $210,800 with 20% down costs about $1,300 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,651, 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 $55,696 for the 20%-down payment. That payment is 39% of the median Charlo household income of $40,469; at that income and 20% down, the 28% guideline points to a home of about $153,000.
The median rent here is $843 a month, so owning the median home costs about $457 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $42,160 |
|---|---|
| Loan amount | $168,640 |
| Principal and interest | $1,134 |
| Property taxes (0.44% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $88 |
| PMI | $0 |
| Total per month | $1,300 |
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| Down payment | $7,378 |
|---|---|
| Loan amount | $206,982 |
| Principal and interest | $1,392 |
| Property taxes (0.44% a year) | $77 |
| Homeowners insurance (our estimate, 0.5% a year) | $88 |
| FHA mortgage insurance | $93 |
| Total per month | $1,651 |
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Questions about home buying in Charlo
What is the median home value in Charlo?
About $210,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Charlo?
Homeowners pay a median $917 a year, which is about 0.44% 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 Charlo?
For the median home with 20% down at 7.11%, the payment is about $1,300 a month. Keeping that under 28% of gross income takes about $55,696 a year.
More about Charlo
- Mortgage Refinance in Charlo
- Debt Relief in Charlo
- Home Equity Loans in Charlo
- 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