Great Falls, MT—59404
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 $379,000, with a year-over-year change of 6.3%. This indicates that home prices in Great Falls, MT are increasing. According to Zillow, the 1-year price projection is 4.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $379,000 | 6.4% |
| Single Family | $380,000 | 5.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $187,000 | 8.1% |
2 Bed | $257,000 | 7.1% |
3 Bed | $362,000 | 6.2% |
4 Bed | $405,000 | 5.7% |
| 5 Bed | $516,000 | 5.5% |
% of Housing Stock
Rental Trends — Great Falls, MT
As of July '25, Rentcast reports the average rent in Great Falls, MT is $2,020, with a year-over-year rent change of 13.5%. Per bedroom, the median rent as of July '25 in Great Falls, MT is 2-bedrooms: $1,420, 3-bedrooms: $1,960, 4-bedrooms: $2,150. The most common rental property sizes in Great Falls, MT are 2-bedroom and 3-bedroom, accounting for 40.6% and 30.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,020 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,420 |
| 3 Bed Rent | $1,820 | $1,960 |
| 4 Bed Rent | $2,000 | $2,150 |
% 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 68. This is a increase of 7.0% 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 | $475,000 | -3.0% |
Listing Count | 128 | 29.0% |
| Listings as % of Homes | 0.6% | 29.0% |
Days on Market | 68 | 7.0% |
Demographics — Great Falls, MT
As of the latest ACS Survey released in 2023, Great Falls, MT has a population of 28,100, which has increased by 1.8% over the past 5 years. Great Falls, MT is a popular place for families, as children make up 25.1% of the population. The area has a moderately educated workforce, with 30.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,100 | 1.8% |
% Under 18 | 25.1% | 5.5% |
% Seniors | 20.4% | 13.3% |
% WFH | 6.7% | 97.1% |
% w/ College Degree | 30.6% | 4.4% |
As of the latest ACS Survey released in 2023, Great Falls, MT is a predominantly white area, with 87.5% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Great Falls, MT is hispanic, making up 3.4% of the population. Foreign-born residents account for 2.2% of the population in Great Falls, MT, and this percentage has decreased by 18.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.5% | -0.3% |
% Black | 1.0% | 233.3% |
% Hispanic | 3.4% | 21.4% |
% Asian | 1.3% | 0.0% |
% Foreign Born | 2.2% | -18.5% |
Mortgage and Risk — Great Falls, MT
According to HUD data as of 2023, there were 609 mortgage originations in Great Falls, MT, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 33.0% 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. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 609 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Great Falls, MT
Great Falls, MT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 327 |
Total Units Section 8 | 252 |
% Rentals under Section 8 | 15.7% |
% Occupied Section 8 | 76.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,020 |
| 2 Bedroom | $140 | $1,200 | $1,340 |
| 3 Bedroom | $60 | $1,820 | $1,880 |
| 4 Bedroom | $130 | $2,000 | $2,130 |
Affordability — Great Falls, MT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $379,000 |
| Median Household Income | $79,300 |