Rents are 7% below what Great Falls's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,433 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Great Falls usually run 1.4% below trend in January and 1.1% above it in September, about $36 a month apart at today's median. Based on 9 years of data.
Rent in Great Falls is at its highest level since Zillow's records here began in July 2017.
From 2019 to 2024, rent in Great Falls rose 52.3% while median household income rose 34.9% ($46,965 to $63,373). Rent outpaced income.
Rent in Great Falls is 64.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 17 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($63,373) is $1,584 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,217); a 3-bedroom is $1,707.
The priciest of 3 ZIP codes in Great Falls, 59404 ($1,724/mo), costs 28% more than the cheapest, 59401 ($1,352/mo).
From Zillow's monthly rent index (ZORI) for Great Falls. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Great Falls, MT is majority owner-occupied, has a median income below the national average, 27.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Great Falls, MT has changed in 5 years
Five years ago, renters in Great Falls, MT paid around $957 a month. That figure now sits near $1,433, up 49.7% from the 2021 baseline. Household income in the area moved from $53,126 to $63,373 across the same window, up 19.3% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Reading these numbers side by side helps frame whether current listings in Great Falls, MT look reasonable against where the market sat half a decade ago.
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At $1,433/mo, how Great Falls rent compares to typical pay (30% rule).
Great Falls rent by bedroom count
Median rent for each apartment size in Great Falls. Click any size for full breakdown.
Tips for renters in Great Falls
Last updated: October 17, 2026
The median rent in Great Falls is $1,433/mo as of October 2026. A studio apartment averages $883/mo while a 2-bedroom runs $1,217/mo. One-bedroom apartments average $927/mo and 3-bedroom units go for $1,707/mo.
At 27% of local median household income ($63,373/yr), Great Falls ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.3% over the past year.
Frequently asked questions
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How does Great Falls rent compare to other cities in Montana?
At $1,433/mo, rent takes ~27% of Great Falls's median household income ($63,373/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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