The typical owner-occupied home in Hays is worth about $59,200, 84% below the Montana median of $375,800 and 82% below the national median of $332,700. The median household earns $52,250 a year, so the median home costs 1.1 times the median income (5.2 times for Montana). 49% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Hays at a glance
| Hays | Montana | U.S. | |
|---|---|---|---|
| Median home value | $59,200 | $375,800 | $332,700 |
| Median property tax paid per year | – | $2,693 | $3,119 |
| Median household income | $52,250 | $72,509 | $80,734 |
| Homes lived in by their owners | 49% | 69% | 65% |
| Owner homes with a mortgage | 10% | 55% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,798 | $1,963 |
| Median rent | $625 | $1,081 | $1,413 |
| Rent as a share of renters' income | 10.9% | 27.8% | 30.6% |
| Median year homes were built | 1981 | 1981 | 1980 |
| Vacant homes | 11.9% | 13.2% | 10.1% |
| Population | 1,009 | 1,116,875 | 334,922,499 |
How much equity Hays owners could borrow
Home equity is what your home is worth minus what you owe. Most lenders let you borrow until your loans add up to 80% to 85% of the home's value. For the median Hays home of $59,200, 80% is $47,360.
90% of Hays owners have no mortgage at all, so they could borrow up to the full 80% limit.
If you instead refinance and take cash out, the whole loan moves to the new rate (this week's 30-year average is 7.11%). A home equity loan or line of credit keeps your current first mortgage, which is usually better when your existing rate is lower than today's.
| Owe nothing | $47,360 to $50,320 |
|---|---|
| Owe $14,800 | $32,560 to $35,520 |
| Owe $29,600 | $17,760 to $20,720 |
| Owe $38,480 | $8,880 to $11,840 |
Before the lender's own limits, fees and your credit and income checks.
Change the numbers in the calculator
Questions about home equity loans in Hays
What is the median home value in Hays?
About $59,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much can I borrow against my home in Hays?
Usually up to 80% to 85% of your home's value, minus what you owe. On the median home of $59,200, an 80% limit is $47,360 before subtracting your mortgage.
More about Hays
- Mortgage Refinance in Hays
- Home Buying in Hays
- Debt Relief in Hays
- 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