Home Values in Great Falls, Montana — 2026 Market Report
Updated March 2026 | Balanced Market | +3.2% YoY
The median home value in Great Falls, Montana is $255,000 as of March 2026, which is below the national median of $400,000. Home values in Great Falls have increased by 3.2% over the past year and 17.1% over the last five years. With a population of 60,442 and a median household income of $48,250, the price-to-income ratio stands at 5.3x, making Great Falls affordable for the average household.
Great Falls Housing Market Conditions
| Metric | Great Falls | National Avg |
|---|---|---|
| Median Home Value | $255,000 | $400,000 |
| YoY Appreciation | +3.2% | +3.8% |
| 5-Year Appreciation | +17.1% | +22.4% |
| Price per Sq Ft | $87 | $222 |
| Days on Market | 55 days | 45 days |
| Months of Supply | 4.7 | 3.5 |
| List-to-Sale Ratio | 96.2% | 98.5% |
| Monthly Homes Sold | 41 | — |
| Foreclosure Rate | 0.66% | 0.3% |
Home Value Trends in Great Falls
A homeowner who purchased at the median price of $217,763 five years ago in Great Falls would have gained approximately $37,237 in equity, representing a 17.1% return on investment. Over the past year alone, the typical homeowner gained $7,907 in home equity.
Affordability in Great Falls, MT
With a median household income of $48,250 and a median home price of $255,000, the price-to-income ratio in Great Falls is 5.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,581 compared to estimated monthly ownership costs of $1,387 gives a rent-vs-buy ratio of 0.88. In Great Falls, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Great Falls
The effective property tax rate in Montana is 0.83%. On a home valued at $255,000, the estimated annual property tax bill is $2,117, or approximately $176/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Great Falls is 89.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Great Falls, MT?
The median home value in Great Falls, Montana is $255,000 as of March 2026. Home values have changed +3.2% over the past year, with a 5-year appreciation of 17.1%.
Is Great Falls a buyer's or seller's market?
Great Falls is currently a balanced market with 4.7 months of housing supply. Homes spend an average of 55 days on market, and the list-to-sale price ratio is 96.2%. Supply and demand are relatively balanced.
Are home values going up in Great Falls?
Yes, home values in Great Falls have increased by 3.2% over the past year. The 5-year appreciation rate is 17.1%, meaning a home worth $217,763 five years ago is now worth $255,000.
Is it better to rent or buy in Great Falls?
The average monthly rent in Great Falls is $1,581, while estimated monthly homeownership costs are approximately $1,387. The price-to-rent ratio is 13.4. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Great Falls, Montana is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.