Quick facts: Malta, MT

Quick Facts

104.7
Cost of Living
above US average
1,868
Population
26.77
Crime Rate per 1000
above US average
$60,735
Median Income
below US average
$243,000
Median House Price
above US average
$1535
Average Rent
above US average
10%
Poverty Rate
below US average
3.1%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,735.

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Income Needed to Buy

βœ— Stretch
$76k/year
Based on $243,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $76k vs median $60,735
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Income Needed to Rent

⚠ Stretch
$66k/year
Based on $1535/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $66k vs median $60,735
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Malta, MT

Malta, Montana, is a small town located in Phillips County, known for its rich agricultural land and scenic landscapes. With a population of around 1,800 residents, Malta serves as a hub for the surrounding ranching and farming community. The town has a historic charm, characterized by early 20th-century architecture and a friendly atmosphere. Malta is surrounded by vast open spaces and features recreational opportunities such as birdwatching, hunting, and fishing, especially around the nearby Fort Peck Reservoir. The town is also a gateway to the Bear Paw Battlefield, a historic site significant in Native American history. Community events, such as the Phillips County Fair, highlight the local culture and bring residents together. The downtown area features local shops, restaurants, and services, fostering a close-knit community feel. Overall, Malta is a quintessential small-town locale, offering a blend of history, nature, and community spirit in the heart of Montana.

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