Great Falls, MT—59401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Great Falls, MT
As of Oct '25, the median home price in Great Falls, MT is $279,000, with a year-over-year change of 8.0%. This indicates that home prices in Great Falls, MT are increasing. According to Zillow, the 1-year price projection is 4.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $279,000 | 8.0% |
| Single Family | $278,000 | 7.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $179,000 | 10.5% |
2 Bed | $232,000 | 7.4% |
3 Bed | $280,000 | 7.7% |
4 Bed | $313,000 | 6.5% |
| 5 Bed | $345,000 | 6.8% |
% of Housing Stock
Rental Trends — Great Falls, MT
As of July '25, Rentcast reports the average rent in Great Falls, MT is $1,310, with a year-over-year rent change of 9.2%. Per bedroom, the median rent as of July '25 in Great Falls, MT is studios: $691, 1-bedrooms: $1,020, 2-bedrooms: $1,280, 3-bedrooms: $1,600, 4-bedrooms: $2,120. The most common rental property sizes in Great Falls, MT are 2-bedroom and 1-bedroom, accounting for 36.1% and 30.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,310 |
| Studio Rent | $695 | $691 |
| 1 Bed Rent | $895 | $1,020 |
| 2 Bed Rent | $1,250 | $1,280 |
| 3 Bed Rent | $1,600 | $1,600 |
| 4 Bed Rent | $2,000 | $2,120 |
% of Rental Stock
Property Listings — Great Falls, MT
As of Oct '25, Realtor.com reports that the median days on market for a home in Great Falls, MT is 44. This is a increase of 8.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 2.0% |
Listing Count | 43 | 5.0% |
| Listings as % of Homes | 0.3% | 5.0% |
Days on Market | 44 | 8.0% |
Demographics — Great Falls, MT
As of the latest ACS Survey released in 2023, Great Falls, MT has a population of 13,600, which has remained stable by -0.9% over the past 5 years. Great Falls, MT is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 26.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,600 | -0.9% |
% Under 18 | 17.6% | -9.3% |
% Seniors | 17.2% | 21.1% |
% WFH | 8.8% | 137.8% |
% w/ College Degree | 26.7% | 8.5% |
As of the latest ACS Survey released in 2023, Great Falls, MT is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Great Falls, MT is hispanic, making up 6.2% of the population. Foreign-born residents account for 1.5% of the population in Great Falls, MT, and this percentage has increased by 7.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.2% | -4.9% |
% Black | 0.8% | -38.5% |
% Hispanic | 6.2% | 47.6% |
% Asian | 0.7% | 133.3% |
% Foreign Born | 1.5% | 7.1% |
Mortgage and Risk — Great Falls, MT
According to HUD data as of 2023, there were 211 mortgage originations in Great Falls, MT, of which 50.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Great Falls, MT. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 211 |
% Conventional Loans | 50.0% |
% Government Loans | 50.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Great Falls, MT
As of 2024, the percent of homes in Great Falls, MT under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Great Falls, MT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 586 |
Total Units Section 8 | 523 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 82.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $895 | $850 |
| 2 Bedroom | -$140 | $1,250 | $1,110 |
| 3 Bedroom | -$40 | $1,600 | $1,560 |
| 4 Bedroom | -$240 | $2,000 | $1,760 |
Affordability — Great Falls, MT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $279,000 |
| Median Household Income | $53,800 |