Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Montana and Tennessee. Updated for 2026.
Metric
Montana
Tennessee
Median Home Price
$430K
$340K
Property Tax Rate
0.74%
0.56%
Avg Closing Costs
$6K
$5K
Closing Cost %
1.5%
1.5%
Transfer Tax
None
0.37%
Homeowners Insurance
$2,100/yr
$2,400/yr
First-Time Buyer Program
MBOH Regular Bond Program
Up to $15,000 DPA
THDA Great Choice Home Loan
Up to $25,000 DPA
Verdict
Tennessee wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, Tennessee offers meaningful savings compared to Montana. Both states offer first-time buyer programs — explore the state pages for full details.