The typical owner-occupied home in Deer Lodge is worth about $247,600, 34% below the Montana median of $375,800 and 26% below the national median of $332,700. Owners pay a median $1,965 a year in property taxes, about 0.79% of their home's value, higher than the Montana rate of 0.72%. The median household earns $60,302 a year, so the median home costs 4.1 times the median income (5.2 times for Montana). 68% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Deer Lodge at a glance
| Deer Lodge | Montana | U.S. | |
|---|---|---|---|
| Median home value | $247,600 | $375,800 | $332,700 |
| Median property tax paid per year | $1,965 | $2,693 | $3,119 |
| Property tax as a share of value | 0.79% | 0.72% | 0.94% |
| Median household income | $60,302 | $72,509 | $80,734 |
| Homes lived in by their owners | 68% | 69% | 65% |
| Owner homes with a mortgage | 56% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,450 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 21.9% | 21.0% |
| Median rent | $852 | $1,081 | $1,413 |
| Rent as a share of renters' income | 22.9% | 27.8% | 30.6% |
| Median year homes were built | 1956 | 1981 | 1980 |
| Vacant homes | 7.6% | 13.2% | 10.1% |
| Population | 3,021 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Deer Lodge
At this week's average 30-year rate of 7.11%, buying the median Deer Lodge home of $247,600 with 20% down costs about $1,599 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,011, 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 $68,514 for the 20%-down payment. That payment is 32% of the median Deer Lodge household income of $60,302; at that income and 20% down, the 28% guideline points to a home of about $218,000.
The median rent here is $852 a month, so owning the median home costs about $747 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,520 |
|---|---|
| Loan amount | $198,080 |
| Principal and interest | $1,332 |
| Property taxes (0.79% a year) | $163 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,599 |
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| Down payment | $8,666 |
|---|---|
| Loan amount | $243,115 |
| Principal and interest | $1,635 |
| Property taxes (0.79% a year) | $163 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $110 |
| Total per month | $2,011 |
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Questions about home buying in Deer Lodge
What is the median home value in Deer Lodge?
About $247,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Deer Lodge?
Homeowners pay a median $1,965 a year, which is about 0.79% 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 Deer Lodge?
For the median home with 20% down at 7.11%, the payment is about $1,599 a month. Keeping that under 28% of gross income takes about $68,514 a year.
More about Deer Lodge
- Mortgage Refinance in Deer Lodge
- Debt Relief in Deer Lodge
- Home Equity Loans in Deer Lodge
- 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