Market Overview
Home Prices in Elmo, MT
The median home value in Elmo, MT is $832,250 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.8% compared to a year ago and down 1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elmo are priced103% above average.
Over the past five years, Elmo home values have risen by approximately39.9%, reflecting strong long-term appreciation in this market.
Price History
Elmo Home Price Trend
2020
$460,940
$461K
—
2021
$595,095
$595K
+29.1%
2022
$794,311
$794K
+33.5%
2023
$760,361
$760K
-4.3%
2024
$833,799
$834K
+9.7%
2025
$825,453
$825K
-1.0%
2026
$832,250
$832K
+0.8%
City Comparison
Elmo vs. National Median
🏠 Elmo
$832,250
National Median
$410,000
At $832,250, homes in Elmo cost 103% above the national median of $410,000. Buyers in Elmo should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Elmo?
20% Down Payment
$166,450
on $832,250
Monthly P&I
$4,341/mo
30-yr @ 6.8%
Total Monthly Est.
~$5,513/mo
incl. taxes & insurance
Income Needed
$220,520
gross annual (30% rule)
10% Down Option
$83,225
+ PMI applies
Loan Amount (20% dn)
$665,800
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elmo, MT?
The median home value in Elmo is $832,250 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.8% year-over-year.
How much have home prices changed in Elmo?
Over the past year, home values in Elmo have increased by 0.8%. Over five years, prices have risen approximately 39.9%.
How much do I need to earn to buy a home in Elmo?
To comfortably afford the median home price of $832,250 with a 20% down payment ($166,450) at today's rates (6.8%), you'd need a gross annual income of approximately $220,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Elmo compare to the national average home price?
The national median home value is approximately $410,000. At $832,250, homes in Elmo are 103% above the national average.