Metro area index
Home appreciation in the Great Falls, MT metro area
FHFA HPI® data shows the Great Falls, MT metro area's all-transactions index changed +6.0% over the year to Q2 2026, versus +2.7% for Montana and +3.0% for the U.S. That ranks 69th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +6.0%
- 5-year change
- +54.5%
- Since Q1 1995
- +314%
- Metro rank (1 year)
- 69th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Great Falls, MT vs Montana and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Great Falls, MT: 414.2
- Montana: 496.2
- United States: 391.6
Appreciation by time window
| Window | Metro | MT | U.S. | Gap vs MT | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.0% | +2.7% | +3.0% | +3.3 pts | +3.0 pts |
| 3 years | +11.3% | +11.3% | +12.9% | +0.1 pts | −1.5 pts |
| 5 years | +54.5% | +47.5% | +41.3% | +6.9 pts | +13.2 pts |
| 10 years | +98.4% | +113% | +93.3% | −14.7 pts | +5.1 pts |
| Since Q1 1995 | +314% | +396% | +292% | −82.0 pts | +22.7 pts |
3-digit ZIP regions in the Great Falls, MT area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 594 · Great Falls, MT area | MT | +6.7% | +57.4% | +327% | 62% |
Boom, bust, and recovery in Great Falls, MT area
Great Falls, MT area's index peaked in Q1 2009, fell 4.5% to its low in Q3 2011, and regained its peak in Q3 2012, about 3.5 years after the top. Today it sits +118% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2009 | Q3 2011 | -4.5% | Q3 2012 (3.5 yrs) | +118% |
| MT | Q1 2008 | Q2 2011 | -10.1% | Q3 2014 (6.5 yrs) | +126% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Great Falls, MT area's index has changed +87.1% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | MT after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +2.1% | -1.1% | -0.8% |
| 3 years | +9.8% | +1.4% | +1.3% | +2.8% |
| 5 years | +24.0% | +24.5% | +18.9% | +13.9% |
| 10 years | +39.1% | +42.6% | +53.2% | +39.0% |
| Since Q1 1995 | +121% | +87.1% | +124% | +76.8% |
If you bought in the Great Falls, MT area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +316% | $1,249,377 |
| Q2 2000 | +246% | $1,036,648 |
| Q2 2005 | +166% | $797,888 |
| Q2 2010 | +125% | $675,269 |
| Q2 2015 | +104% | $612,223 |
| Q2 2020 | +74.6% | $523,720 |
| Q2 2021 | +54.5% | $463,357 |
| Q2 2023 | +11.3% | $334,013 |
| Q2 2025 | +6.0% | $317,995 |
Frequently asked questions
- How much have home prices risen in the Great Falls, MT area?
- FHFA HPI® data for the Great Falls, MT metro area shows changes of +6.0% over one year, +54.5% over five years, and +98.4% over ten years to Q2 2026, and +314% since Q1 1995.
- Is the Great Falls, MT area beating the national average?
- Over the past year the metro's index moved +3.0 pts versus the U.S.; over five years the gap is +13.2 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.