Great Falls, MT

Very Low · 68

Montana · Population 60,412 · Updated March 2026

$866
Median Rent / Month
$63,934
Median Income
$237,400
Median Home Value
$963
Owner Costs / Month

Affordability

How far your income goes in Great Falls

16.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Montana

State-level tax rates that affect your costs

6.75%
Income Tax (Top Rate)
0%
Sales Tax
0.74%
Property Tax Rate

Estimated Annual Costs

$10,392
Annual Rent
$4,316
State Income Tax
$1,757
Property Tax (est.)

Cost of Living Overview

Great Falls is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 68 (where 100 equals the national median), Great Falls residents can expect to pay median rent of $866/month while earning a median household income of $63,934/year.

The median home value in Great Falls, MT is $237,400, with typical monthly owner costs around $963 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Montana has a moderate income tax rate of 6.75%. Combined with a 0% sales tax rate and 0.74% effective property tax rate, the overall tax environment is a factor in the total cost of living in Great Falls.

Frequently Asked Questions

Common questions about living costs in Great Falls

What is the cost of living in Great Falls, MT?
The cost of living index in Great Falls, MT is 68 (US average = 100). Median monthly rent is $866, median household income is $63,934/year, and the median home value is $237,400.
Is Great Falls, MT affordable?
Yes, Great Falls is more affordable than the national average with a cost index of 68. The rent-to-income ratio is 16.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Great Falls, MT?
The median gross rent in Great Falls, MT is $866 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,392.
What is the median household income in Great Falls?
The median household income in Great Falls, MT is $63,934 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Montana?
Montana has a top income tax rate of 6.75%, a sales tax of 0%, and an effective property tax rate of 0.74%.