Great Falls, Montana Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Great Falls, Montana rental market.
Great Falls, Montana
Average Apartment Rent in August 2022
$1,074
Great Falls, Montana |Average apartment rent trend
Great Falls, Montana| Average apartment rent
Great Falls, Montana | Apartment rent ranges
At 54.14%, apartments priced $1,000 - $1,500 represent the bulk of Great Falls, Montana rentals, while condos priced $500 - $700 hold the lowest share of the market – 10.19%.
Great Falls, Montana | Housing tenure**
Renters take up 36% of Great Falls, Montana real estate, occupying a total of 9,154 units, while homeowners live in 16,588 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$31,381
Average household size of renter-occupied housing units**
2.05
Rental vacancy rate**
6.9%
Great Falls, Montana | Renter-occupied housing units by no. of bedrooms**
There are 3,799 rentals in Great Falls, Montana with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 170 units. Overall, the median number of rooms in Great Falls, Montana homes for rent is 4.
Great Falls, Montana |Renter-occupied units by age of householder**
Most condos for rent in Great Falls, Montana are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (15%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 4%.
Great Falls, Montana | Renter-occupied housing units by family type**
Great Falls, Montana | Renter-occupied housing units by the presence of own children**
A total of 3,839 apartments for rent in Great Falls, Montana, or 42% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 2,412 units. All in all, the median size of a renter-occupied household in Great Falls, Montana is 2.05.
Great Falls, Montana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 22% of the rental market. In contrast, residents with less than a high school degree reside in 9% of the homes for rent in Great Falls, Montana.
Great Falls, Montana | Renter-occupied units by year structure built**
The highest share of Great Falls, Montana apartment rentals, namely 20% or 1,862 units, were Built 1960 - 1969, followed by those Built 1970 - 1979 (19%, 1,702 units), and the ones Built 1939 or earlier (16%, 1,493 units).
Great Falls, Montana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most Great Falls, Montana renters (54%) moved in 2015 to 2016, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Great Falls, Montana condos for rent is 2016.
Great Falls, Montana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Great Falls, Montana renters have 1 vehicle available per household, 24% of them have 2 vehicles available, and 17% have No vehicle available.
Great Falls, Montana | Means of transportation to work of householders living in renter-occupied housing units**
Great Falls, Montana |Geographical mobility in the past year for householders living in renter-occupied housing units**
Great Falls, Montana | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Great Falls, Montana apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2020 American Community Survey 5-Year Estimates
