The Real Cost of Living in Great Falls (2026): Beyond the Averages

The marketing materials will tell you Great Falls is a bargain, pointing to a Cost of Living Index of 92.6—roughly 7.4% cheaper than the national average. They’ll highlight that a single earner needs roughly $35,163 to survive here, a figure that looks downright appealing compared to coastal cities. But "surviving" and "thriving" are two entirely different financial beasts. That $35,163 figure is the bare minimum to keep the lights on and the fridge stocked with the basics, assuming you don't mind a lifestyle that feels permanently stuck in austerity mode. To reach a level of genuine financial comfort—where you aren't sweating every unexpected $100 expense—you need to understand the structural costs bleeding your wallet dry, from the property tax millage rates to the winter heating bills that sit on your doorstep for six months of the year.

The Big Items

Housing: The Rent vs. Buy Trap
The rental market in Great Falls currently looks deceptively stable on paper, with a one-bedroom unit averaging $745 and a two-bedroom hovering around $979. However, this "stability" is often a trap for the unprepared renter. While you aren't facing the volatility of a San Francisco market, the housing supply is tight and aging. If you are looking to buy, the median home price of $299,000 seems reasonable until you run the amortization schedule. With interest rates hovering in the 6.5% - 7% range, a $299,000 home with a standard 20% down payment results in a monthly mortgage payment exceeding $1,900 before you factor in taxes and insurance.

The real kicker is the "market heat"—or lack thereof. Great Falls isn't a high-velocity market, meaning if you buy a home, you aren't guaranteed rapid appreciation. You might be locking your capital into an asset that appreciates at the rate of inflation, at best. For renters, the "hidden" cost is often the quality of the build. Many rentals here are older constructions with poor insulation, which leads directly into our next cost center. If you are renting an older two-bedroom for $979, expect your winter heating bill to easily add another $200-$300 to your monthly overhead, effectively raising your "rent" to over $1,200.

Taxes: The Millage Rate Bite
Don't let the lack of a general state sales tax fool you; Montana finds its revenue in other places. The "low tax" reputation is a myth once you own property. The property tax bite in Great Falls is significant. While rates vary by specific millage districts, you can expect to pay roughly 1.0% to 1.2% of your home's assessed value annually. On that median $299,000 home, that’s roughly $3,000 annually, or $250 a month, tacked onto your mortgage.

For income tax, Montana has a progressive system ranging from 1% to 6.75%. If you are single and earning the median of roughly $35,163, you’ll fall into the 4.7% bracket. While not exorbitant, it wipes out the "no income tax" savings you might see in states like Washington or Florida. When you combine state income tax with property tax, the total tax burden on a median earner/owner is easily 15-18% of gross income. It’s not bleeding you dry, but it’s definitely nickel and diming you on every asset you hold.

Groceries & Gas: The Geographic Penalty
Great Falls is an island of civilization in a vast sea of rural geography. This creates a "supply chain tax" on everything you buy. Groceries here are consistently 5-10% higher than the national baseline. A gallon of milk might run you $3.89, and a standard ground beef pack is rarely under $5.00. You aren't paying for the food; you're paying for the fuel to get it to the middle of nowhere.

Gas prices fluctuate, but they generally track slightly above the national average due to distribution costs. If you commute from the suburbs (like Black Eagle or Belt), you are looking at significant mileage. Unlike a dense city where you might drive 5 miles a day, the average commute here is longer. You can expect to budget $200-$250 monthly for fuel alone if you commute daily. This eats directly into that "disposable" income.

Hidden 'Gotcha' Costs

The "sticker shock" in Great Falls doesn't come from the big line items; it comes from the infrastructure and insurance realities of living in the Northern plains.

• Insurance Premiums: Your standard homeowners or renters insurance is just the start. Because Great Falls sits in a "hail alley," your auto insurance premiums will be significantly higher than the national average to cover windshield and roof damage. Expect to pay $120-$150 monthly for full auto coverage, which is roughly 20% higher than the US baseline.
• Heating & Utilities: We mentioned electric is 12.66 cents/kWh, which is decent. But you will burn through 1,000+ kWh in the winter just heating a modest space. Furthermore, if you buy a home with natural gas, you are exposed to volatile winter spikes. There is no "low usage" option when it's -10°F outside.
• No Toll Roads, But High Maintenance: You won't pay tolls, but you will pay for vehicle wear and tear. The freeze-thaw cycle destroys roads, creating potholes that require tire replacements and alignments more frequently than in temperate climates.
• HOA Fees: If you buy a condo or a home in a planned development, expect HOA fees ranging from $150 to $400 monthly. These are often non-negotiable and cover snow removal and landscaping—essential services, but a massive drain on cash flow.

Lifestyle Inflation

If you think you can save money by "just staying in," you will suffer from lifestyle deflation, which leads to relocator burnout. The cost of entertainment is deceptive.

• A Night Out: Dinner and a couple of drinks for two people in Great Falls will easily run $80-$100 plus tip. It isn't NYC pricing, but it isn't fast food pricing either.
• Gym Membership: A standard membership at a facility like the Great Falls Club or a local gym will run $40-$60 per month.
• Coffee: A specialty latte at a local roaster is hitting the $6.00 mark consistently.
• Incidentals: The "nickel and dime" effect is real. Because there are fewer big-box retailers (no Costco, no Ikea), you pay a premium for convenience at places like Safeway or CVS.

Salary Scenarios

To translate this analysis into actionable numbers, we’ve broken down the required income levels for three distinct lifestyles. These figures account for the "bleed" costs of taxes, insurance, and the geographic penalty on goods.

Scenario Analysis:
The Frugal scenario is the "survival" mode. At $45,000 for a single person, you are taking home roughly $2,900 monthly after taxes. After rent ($750), utilities, insurance ($250), and groceries ($400), you have maybe $800 left for everything else. One major car repair wipes out a month of savings. This is a precarious position.

The Moderate scenario at $55,000-$65,000 is where the "average" earner sits. This allows you to rent a decent two-bedroom or save for a down payment. You aren't stressed about the grocery bill, but you are still calculating the cost of a night out. You likely have a car payment, which eats roughly $400 of that monthly income.

The Comfortable scenario at $80,000+ is the only bracket that allows you to utilize the "low cost of living" to your advantage. At this income, you can afford the median $299,000 home, absorb the $3,000 property tax bill, and still save. Anything below this, and you are essentially subsidizing your low mortgage with high liquidity stress.