Rent vs buy in Great Falls, MT
In Great Falls, Montana, the typical rent is $1,433 /mo and the typical home is $337,936.
Over 7 years, renting comes out $14k ahead
With the typical rent and home value in Great Falls's market, plus 20% down and today's mortgage rate. The break-even point: year 10.
Opinion with the math shown. It's clearly labelled, and these are estimates, not quotes. Change one number and the stamp changes with it.
- Renting leads by
- $14k after 7 years
- Break-even point
- year 10 when owning catches up
- What owning really costs
- $2,973 /mo year 1, against $1,433 rent
Change my numbers
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Is renting or buying cheaper in Great Falls?
Count in the money that comes back to you when you sell, and renting is cheaper by $14,312 over 7 years. For the first 9 years, renting costs less. By year 10, owning catches up.
Renting. Owning. Net cost to date, by year.
Average rent compared with mortgage payment in Great Falls
Year 1 includes more than just rent and mortgage payments. Every monthly cost at Great Falls's typical price is listed here.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,433 | All of it, every month |
| Mortgage payment | $1,842 | $1,624 of it is interest in year 1 |
| Property tax | $259 | 0.92% of the value a year |
| Insurance | $118 | Census median for the city |
| Upkeep | $282 | 1% of the value a year |
| Owning, cash out | $2,501 | $218 of it builds equity |
| Lost return on the down payment | $549 | What that cash would earn each year at 8.3% |
| Buying costs, spread out | $141 | 3.5% of the price over 7 years |
| True cost of owning | $2,973 | Cash out, minus the equity piece, plus the two lines listed above |
Great Falls figures behind the verdict
- Home value, typical: Zillow data: ZHVI, September 2026
- $337,936
- Rent, typical: Zillow data: ZORI, September 2026
- $1,433 /mo
- Down payment: 20% means no private mortgage insurance, and the engine does not model it.
- 20%
- Mortgage rate from Freddie Mac Primary Mortgage Market Survey series (FRED MORTGAGE30US)
- 7.24%
- Home price growth, from FHFA house price index for Montana, 1995 to 2025
- 5.3% each year
- Rent growth, from CPI rent of primary residence, yearly growth from 2006 to 2026
- 3.5% each year
- What savings earn60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025
- 8.3% each year
- Property tax Census data, ACS 2020-2024, Great Falls
- 0.92% of the value
- Home insurance Census data, ACS 2020-2024, Great Falls
- $118 per month
- Maintenance Fannie Mae, low end of the 1% to 4% range
- 1% of the value every year
- Costs of buyingFreddie Mac, midrange of 2% to 5%
- 3.5% of the price
- Selling costsAgent commission and closing costs
- 6% of the price
What would flip the result in Great Falls?
Each line shows where the 7-year verdict for Great Falls flips, and everything else stays as it is.
Renting comes out ahead when
- Prices for homes rise at under 5.8% a year; our long-run rate, the one Montana's data shows, is 5.3%.
- The rate on a mortgage holds above 6.49%.
- Monthly rent for a place like this comes in under $1,590 (typical here: $1,433).
- You move before the 10-year mark.
Buying comes out ahead when
- Home prices rise by more than 5.8% a year.
- You lock in a rate under 6.49% (the one today is 7.24%).
- Your monthly rent for the same home would cost more than $1,590.
- You stay for 10 years or longer.
Great Falls compared with the other 812 cities
| Measure | Great Falls | Median city |
|---|---|---|
| Typical home value | $337,936 | $422,451 |
| Typical rent | $1,433 /mo | $1,837 /mo |
| Price-to-rent ratio | 19.7 (#348 of 813) | 18.5 |
| Home prices, last 10 years | 7% a year | 6.2% a year |
| Rents, last 5 years | 6.2% a year | 4% a year |
| Property tax | 0.92% | 0.87% |
| Households that rent | 34% | 42% |
Data from: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Montana cities
- Rent. Billings, MT. Renting comes out ahead by $43k.
- Rent. Missoula, MT. Renting comes out ahead by $89k.
- Rent. Bozeman, MT. Renting comes out ahead by $80k.