The typical owner-occupied home in Hamilton is worth about $310,000, 18% below the Montana median of $375,800 and 7% below the national median of $332,700. Owners pay a median $2,304 a year in property taxes, about 0.74% of their home's value, close to the Montana rate of 0.72%. The median household earns $49,204 a year, so the median home costs 6.3 times the median income (5.2 times for Montana). 56% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Hamilton at a glance
| Hamilton | Montana | U.S. | |
|---|---|---|---|
| Median home value | $310,000 | $375,800 | $332,700 |
| Median property tax paid per year | $2,304 | $2,693 | $3,119 |
| Property tax as a share of value | 0.74% | 0.72% | 0.94% |
| Median household income | $49,204 | $72,509 | $80,734 |
| Homes lived in by their owners | 56% | 69% | 65% |
| Owner homes with a mortgage | 46% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,400 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 36.2% | 21.9% | 21.0% |
| Median rent | $947 | $1,081 | $1,413 |
| Rent as a share of renters' income | 26.3% | 27.8% | 30.6% |
| Median year homes were built | 1976 | 1981 | 1980 |
| Vacant homes | 11.4% | 13.2% | 10.1% |
| Population | 5,101 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Hamilton
At this week's average 30-year rate of 7.11%, buying the median Hamilton home of $310,000 with 20% down costs about $1,989 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,505, 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 $85,227 for the 20%-down payment. That payment is 48% of the median Hamilton household income of $49,204; at that income and 20% down, the 28% guideline points to a home of about $179,000.
The median rent here is $947 a month, so owning the median home costs about $1,042 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $62,000 |
|---|---|
| Loan amount | $248,000 |
| Principal and interest | $1,668 |
| Property taxes (0.74% a year) | $191 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| PMI | $0 |
| Total per month | $1,989 |
Change the numbers in the calculator
| Down payment | $10,850 |
|---|---|
| Loan amount | $304,385 |
| Principal and interest | $2,048 |
| Property taxes (0.74% a year) | $191 |
| Homeowners insurance (our estimate, 0.5% a year) | $129 |
| FHA mortgage insurance | $137 |
| Total per month | $2,505 |
Change the numbers in the calculator
Questions about home buying in Hamilton
What is the median home value in Hamilton?
About $310,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hamilton?
Homeowners pay a median $2,304 a year, which is about 0.74% 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 Hamilton?
For the median home with 20% down at 7.11%, the payment is about $1,989 a month. Keeping that under 28% of gross income takes about $85,227 a year.
More about Hamilton
- Mortgage Refinance in Hamilton
- Debt Relief in Hamilton
- Home Equity Loans in Hamilton
- 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