The typical owner-occupied home in Phillips County is worth about $197,600, 47% below the Montana median of $375,800 and 41% below the national median of $332,700. Owners pay a median $1,551 a year in property taxes, about 0.78% of their home's value, higher than the Montana rate of 0.72%. The median household earns $53,417 a year, so the median home costs 3.7 times the median income (5.2 times for Montana). 74% of occupied homes here are lived in by their owners, and 35% of those owners still have a mortgage.
Phillips County at a glance
| Phillips County | Montana | U.S. | |
|---|---|---|---|
| Median home value | $197,600 | $375,800 | $332,700 |
| Median property tax paid per year | $1,551 | $2,693 | $3,119 |
| Property tax as a share of value | 0.78% | 0.72% | 0.94% |
| Median household income | $53,417 | $72,509 | $80,734 |
| Homes lived in by their owners | 74% | 69% | 65% |
| Owner homes with a mortgage | 35% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,622 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 21.9% | 21.0% |
| Median rent | $536 | $1,081 | $1,413 |
| Rent as a share of renters' income | 23.2% | 27.8% | 30.6% |
| Median year homes were built | 1974 | 1981 | 1980 |
| Vacant homes | 21.0% | 13.2% | 10.1% |
| Population | 4,221 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Phillips County
At this week's average 30-year rate of 7.11%, buying the median Phillips County home of $197,600 with 20% down costs about $1,274 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,603, 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 $54,608 for the 20%-down payment. That payment is 29% of the median Phillips County household income of $53,417; at that income and 20% down, the 28% guideline points to a home of about $193,000.
The median rent here is $536 a month, so owning the median home costs about $738 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,520 |
|---|---|
| Loan amount | $158,080 |
| Principal and interest | $1,063 |
| Property taxes (0.78% a year) | $128 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| PMI | $0 |
| Total per month | $1,274 |
Change the numbers in the calculator
| Down payment | $6,916 |
|---|---|
| Loan amount | $194,021 |
| Principal and interest | $1,305 |
| Property taxes (0.78% a year) | $128 |
| Homeowners insurance (our estimate, 0.5% a year) | $82 |
| FHA mortgage insurance | $87 |
| Total per month | $1,603 |
Change the numbers in the calculator
Questions about home buying in Phillips County
What is the median home value in Phillips County?
About $197,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Phillips County?
Homeowners pay a median $1,551 a year, which is about 0.78% 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 Phillips County?
For the median home with 20% down at 7.11%, the payment is about $1,274 a month. Keeping that under 28% of gross income takes about $54,608 a year.
More about Phillips County
- Mortgage Refinance in Phillips County
- Debt Relief in Phillips County
- Home Equity Loans in Phillips 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