3-digit ZIP regional index
Home appreciation in ZIP codes 594xxGreat Falls, MT area
FHFA HPI® data shows the regional home price index for ZIP codes beginning with 594 changed +6.7% over the year to Q2 2026, compared with +2.7% for Montana and +3.0% for the United States.
The region covers ZIP codes 59401–59489. Most of its 2010 population lived in Cascade County (62%), Glacier County (10%), Fergus County (9%). Communities in the region include Lewistown, Malmstrom AFB, Shelby, Cut Bank, Conrad. This is a regional index, not a ZIP5, street, or individual-home estimate.
- 1-year change
- +6.7%
- 5-year change
- +57.4%
- Since Q1 1995
- +327%
- National rank (1 year)
- 89th
Year to Q2 2026
vs U.S. +41.3%
vs U.S. +292%
of 882 ZIP3 regions
ZIP3 594 vs Montana and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- ZIP3 594: 427.3
- Montana: 496.2
- Great Falls, MT metro: 414.2
- United States: 391.6
Want a different starting year? Rebase this chart or compare with another ZIP3.
Appreciation by time window
| Window | ZIP3 594 | MT | U.S. | Gap vs MT | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +6.7% | +2.7% | +3.0% | +4.0 pts | +3.7 pts |
| 3 years | +17.4% | +11.3% | +12.9% | +6.1 pts | +4.5 pts |
| 5 years | +57.4% | +47.5% | +41.3% | +9.8 pts | +16.1 pts |
| 10 years | +102% | +113% | +93.3% | −10.8 pts | +9.0 pts |
| Since Q1 1995 | +327% | +396% | +292% | −68.9 pts | +35.8 pts |
If you bought in ZIP3 594 in…
Applying the regional index change from the same quarter of each year to Q2 2026 to an example $300,000 purchase price. Individual homes can differ widely from the regional average.
| Bought in | Index change | $300,000 then, at the regional rate |
|---|---|---|
| Q2 1995 | +331% | $1,291,808 |
| Q2 2000 | +260% | $1,079,116 |
| Q2 2005 | +178% | $833,219 |
| Q2 2010 | +131% | $693,230 |
| Q2 2015 | +107% | $619,948 |
| Q2 2020 | +78.7% | $536,016 |
| Q2 2021 | +57.4% | $472,101 |
| Q2 2023 | +17.4% | $352,127 |
| Q2 2025 | +6.7% | $320,129 |
How ZIP3 594 ranks
Over the past year ZIP3 594 ranks 89th of 882 3-digit ZIP regions nationally and 1st of 10 in Montana. Its one-year change is +3.7 pts versus the nation and +4.0 pts versus Montana. Rank 1 is the strongest appreciation.
| Window | National rank | Rank in Montana |
|---|---|---|
| 1 year | 89th of 882 | 1st of 10 |
| 3 years | 321st of 882 | 1st of 10 |
| 5 years | 78th of 882 | 1st of 10 |
| 10 years | 282nd of 882 | 9th of 10 |
| Since Q1 1995 | 211th of 879 | 9th of 10 |
Boom, bust, and recovery in ZIP3 594
ZIP3 594's index peaked in Q1 2009, fell 3.8% to its low in Q3 2011, and regained its peak in Q3 2012, about 3.5 years after the top. Today it sits +124% 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 |
|---|---|---|---|---|---|
| ZIP3 594 | Q1 2009 | Q3 2011 | -3.8% | Q3 2012 (3.5 yrs) | +124% |
| MT | Q1 2008 | Q2 2011 | -10.1% | Q3 2014 (6.5 yrs) | +126% |
| Metro | Q1 2009 | Q3 2011 | -4.5% | Q3 2012 (3.5 yrs) | +118% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, ZIP3 594's index has changed +93.0% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ZIP3 594 after inflation | MT after inflation | Metro after inflation | U.S. after inflation |
|---|---|---|---|---|---|
| 1 year | +3.9% | +2.7% | -1.1% | +2.1% | -0.8% |
| 3 years | +9.8% | +6.9% | +1.3% | +1.4% | +2.8% |
| 5 years | +24.0% | +26.9% | +18.9% | +24.5% | +13.9% |
| 10 years | +39.1% | +45.5% | +53.2% | +42.6% | +39.0% |
| Since Q1 1995 | +121% | +93.0% | +124% | +87.1% | +76.8% |
Estimate appreciation for a home in ZIP3 594
Regional estimate
$606,974
- Estimated gain
- $306,974
- Index change
- +102%
- Start index
- 211.21
- End index
- 427.33
ZIP3 594 (Great Falls, MT area), Q2 2016 to Q2 2026. Index type: Native 3-Digit ZIP index.
Nearby 3-digit ZIP regions
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|---|
| 596 · Helena, MT area | MT | -0.0% | +45.7% | +384% |
| 595 · Havre, MT area | MT | +2.8% | +53.0% | +421% |
| 597 · Bozeman, MT area | MT | +2.5% | +53.9% | +517% |
| 598 · Missoula, MT area | MT | -2.8% | +44.6% | +414% |
| 599 · Kalispell, MT area | MT | -1.6% | +50.5% | +441% |
| 590 · Livingston, MT area | MT | +3.4% | +49.0% | +417% |
Recent quarterly index values
| Period | Index |
|---|---|
| Q2 2026 | 427.33 |
| Q1 2026 | 429.81 |
| Q4 2025 | 420.77 |
| Q3 2025 | 431.11 |
| Q2 2025 | 400.46 |
| Q1 2025 | 417.48 |
| Q4 2024 | 411.97 |
| Q3 2024 | 396.56 |
| Q2 2024 | 389.87 |
| Q1 2024 | 393.26 |
| Q4 2023 | 382.29 |
| Q3 2023 | 370.10 |
Frequently asked questions
- How much have home prices risen in ZIP codes starting with 594?
- Based on FHFA HPI® data for 3-digit ZIP region 594, the regional index changed +6.7% over the year to Q2 2026, +57.4% over five years, +102% over ten years, and +327% since Q1 1995.
- Is ZIP3 594 appreciating faster than Montana and the U.S.?
- Over the past year the region's index +6.7% compares with +2.7% for Montana and +3.0% for the U.S., a gap of +3.7 pts versus the nation. Over five years the gap versus the nation is +16.1 pts.
- Which ZIP codes are in 3-digit ZIP region 594?
- All ZIP codes that begin with 594. Census 2010 ZIP Code Tabulation Areas in this region run from 59401 to 59489 (60 areas). FHFA publishes one index for the whole 3-digit region, not for each 5-digit ZIP code.
- Can I use this to value my home?
- No. The FHFA HPI® is a broad regional index of average price movement. It is not an appraisal, tax assessment, or automated valuation of any individual property. Use it as general context alongside local sales and a professional opinion.