The typical owner-occupied home in Cooke City is worth about $370,800, about the same as the Montana median of $375,800 and 11% above the national median of $332,700. Owners pay a median $2,650 a year in property taxes, about 0.71% of their home's value, close to the Montana rate of 0.72%. The median household earns $49,583 a year, so the median home costs 7.5 times the median income (5.2 times for Montana). 51% of occupied homes here are lived in by their owners, and 20% of those owners still have a mortgage.
Cooke City at a glance
| Cooke City | Montana | U.S. | |
|---|---|---|---|
| Median home value | $370,800 | $375,800 | $332,700 |
| Median property tax paid per year | $2,650 | $2,693 | $3,119 |
| Property tax as a share of value | 0.71% | 0.72% | 0.94% |
| Median household income | $49,583 | $72,509 | $80,734 |
| Homes lived in by their owners | 51% | 69% | 65% |
| Owner homes with a mortgage | 20% | 55% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,798 | $1,963 |
| Median rent | $1,357 | $1,081 | $1,413 |
| Rent as a share of renters' income | 38.8% | 27.8% | 30.6% |
| Median year homes were built | 1983 | 1981 | 1980 |
| Vacant homes | 64.2% | 13.2% | 10.1% |
| Population | 86 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Cooke City
At this week's average 30-year rate of 7.11%, buying the median Cooke City home of $370,800 with 20% down costs about $2,369 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,987, 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 $101,546 for the 20%-down payment. That payment is 57% of the median Cooke City household income of $49,583; at that income and 20% down, the 28% guideline points to a home of about $181,000.
The median rent here is $1,357 a month, so owning the median home costs about $1,012 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $74,160 |
|---|---|
| Loan amount | $296,640 |
| Principal and interest | $1,996 |
| Property taxes (0.71% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $154 |
| PMI | $0 |
| Total per month | $2,369 |
Change the numbers in the calculator
| Down payment | $12,978 |
|---|---|
| Loan amount | $364,084 |
| Principal and interest | $2,449 |
| Property taxes (0.71% a year) | $219 |
| Homeowners insurance (our estimate, 0.5% a year) | $154 |
| FHA mortgage insurance | $164 |
| Total per month | $2,987 |
Change the numbers in the calculator
Questions about home buying in Cooke City
What is the median home value in Cooke City?
About $370,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cooke City?
Homeowners pay a median $2,650 a year, which is about 0.71% 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 Cooke City?
For the median home with 20% down at 7.11%, the payment is about $2,369 a month. Keeping that under 28% of gross income takes about $101,546 a year.
More about Cooke City
- Mortgage Refinance in Cooke City
- Debt Relief in Cooke City
- Home Equity Loans in Cooke City
- 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