Current Avg. Rates: 6.46% 30-yr fixed|5.77% 15-yr fixed
Source: Freddie Mac Primary Mortgage Market Survey
Source: Freddie Mac Primary Mortgage Market Survey
Billings vs Missoula: Mortgage Cost Comparison
Thinking about buying in Billings or Missoula? Here's a side-by-side comparison of mortgage costs in both cities.
$2,106
Billings PITI
$2,876
Missoula PITI
$770/mo
Difference
Your Monthly Payment (PITI)
-
Principal + Interest + Tax + Insurance
Monthly Breakdown
-
Property Tax
-
Insurance
Loan Overview
-
Total Interest
-
Payoff Date
Bi-Weekly Option
? Pay half your monthly payment every two weeks — you'll make 26 half-payments (13 full payments) per year instead of 12
-
Bi-Weekly Payment
-
Total Interest
-
Payoff Date
Billings vs Missoula: Full Mortgage Comparison
Buying a home in Billings is $770/month cheaper based on average home prices and local costs.
| Billings, MT | Missoula, MT | |
|---|---|---|
| Avg. Home Price | $340,000 | $480,000 |
| Down Payment (20%) | $68,000 | $96,000 |
| Loan Amount | $272,000 | $384,000 |
| Property Tax Rate | 0.88% | 0.8% |
| Annual Property Tax | $2,992 | $3,840 |
| Annual Insurance | $1,650 | $1,550 |
| Monthly P&I | $1,719 | $2,427 |
| Monthly PITI | $2,106 | $2,876 |
| Total Interest (30yr) | $346,921 | $489,771 |
What Drives the Difference?
Home prices are the biggest factor — Missoula’s average home costs $140,000 more than Billings’s.
Property taxes also favor Missoula — Billings’s 0.88% rate is higher than Missoula’s 0.8%.
Insurance is $100/year more in Billings.
Income Needed to Buy
Using the 28% rule (PITI under 28% of gross income):
| Billings | Missoula | |
|---|---|---|
| Monthly PITI | $2,106 | $2,876 |
| Income needed | $90,260 | $123,270 |
Try Your Own Numbers
The calculator above is pre-filled with Billings’s averages. Adjust the values to match your situation, or try the Missoula calculator for Missoula-specific numbers.