The typical owner-occupied home in Melstone is worth about $156,300, 58% below the Montana median of $375,800 and 53% below the national median of $332,700. The median household earns $65,625 a year, so the median home costs 2.4 times the median income (5.2 times for Montana). 94% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Melstone at a glance
| Melstone | Montana | U.S. | |
|---|---|---|---|
| Median home value | $156,300 | $375,800 | $332,700 |
| Median property tax paid per year | – | $2,693 | $3,119 |
| Median household income | $65,625 | $72,509 | $80,734 |
| Homes lived in by their owners | 94% | 69% | 65% |
| Owner homes with a mortgage | 48% | 55% | 61% |
| Median monthly costs, owners with a mortgage | $1,200 | $1,798 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 21.9% | 21.0% |
| Median rent | – | $1,081 | $1,413 |
| Median year homes were built | 1985 | 1981 | 1980 |
| Vacant homes | 6.1% | 13.2% | 10.1% |
| Population | 80 | 1,116,875 | 334,922,499 |
What a typical home costs per month in Melstone
At this week's average 30-year rate of 7.11%, buying the median Melstone home of $156,300 with 20% down costs about $1,050 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,310, 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 $44,981 for the 20%-down payment. That payment is 19% of the median Melstone household income of $65,625; at that income and 20% down, the 28% guideline points to a home of about $228,000.
| Down payment | $31,260 |
|---|---|
| Loan amount | $125,040 |
| Principal and interest | $841 |
| Property taxes (1.10% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| PMI | $0 |
| Total per month | $1,050 |
Change the numbers in the calculator
| Down payment | $5,470 |
|---|---|
| Loan amount | $153,469 |
| Principal and interest | $1,032 |
| Property taxes (1.10% a year) | $143 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| FHA mortgage insurance | $69 |
| Total per month | $1,310 |
Change the numbers in the calculator
Questions about home buying in Melstone
What is the median home value in Melstone?
About $156,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Melstone?
For the median home with 20% down at 7.11%, the payment is about $1,050 a month. Keeping that under 28% of gross income takes about $44,981 a year.
More about Melstone
- Mortgage Refinance in Melstone
- Debt Relief in Melstone
- Home Equity Loans in Melstone
- 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