The typical owner-occupied home in Fallon is worth about $209,200, 44% below the Montana median of $375,800 and 37% below the national median of $332,700. Owners pay a median $2,250 a year in property taxes, about 1.08% of their home's value, higher than the Montana rate of 0.72%. The median household earns $18,684 a year, so the median home costs 11.2 times the median income (5.2 times for Montana). 70% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Fallon at a glance
| Fallon | Montana | U.S. | |
|---|---|---|---|
| Median home value | $209,200 | $375,800 | $332,700 |
| Median property tax paid per year | $2,250 | $2,693 | $3,119 |
| Property tax as a share of value | 1.08% | 0.72% | 0.94% |
| Median household income | $18,684 | $72,509 | $80,734 |
| Homes lived in by their owners | 70% | 69% | 65% |
| Owner homes with a mortgage | 33% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,167 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 28.3% | 21.9% | 21.0% |
| Median rent | – | $1,081 | $1,413 |
| Median year homes were built | 1938 | 1981 | 1980 |
| Vacant homes | 13.6% | 13.2% | 10.1% |
| Population | 142 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Fallon
At this week's average 30-year rate of 7.11%, buying the median Fallon home of $209,200 with 20% down costs about $1,401 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,750, 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 $60,055 for the 20%-down payment. That payment is 90% of the median Fallon household income of $18,684; at that income and 20% down, the 28% guideline points to a home of about $65,000.
| Down payment | $41,840 |
|---|---|
| Loan amount | $167,360 |
| Principal and interest | $1,126 |
| Property taxes (1.08% a year) | $188 |
| Homeowners insurance (our estimate, 0.5% a year) | $87 |
| PMI | $0 |
| Total per month | $1,401 |
Change the numbers in the calculator
| Down payment | $7,322 |
|---|---|
| Loan amount | $205,411 |
| Principal and interest | $1,382 |
| Property taxes (1.08% a year) | $188 |
| Homeowners insurance (our estimate, 0.5% a year) | $87 |
| FHA mortgage insurance | $93 |
| Total per month | $1,750 |
Change the numbers in the calculator
Questions about home buying in Fallon
What is the median home value in Fallon?
About $209,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fallon?
Homeowners pay a median $2,250 a year, which is about 1.08% 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 Fallon?
For the median home with 20% down at 7.11%, the payment is about $1,401 a month. Keeping that under 28% of gross income takes about $60,055 a year.
More about Fallon
- Mortgage Refinance in Fallon
- Debt Relief in Fallon
- Home Equity Loans in Fallon
- 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