Key Economic Benchmarks
Median Household Income
$63,373$5,281 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Great Falls, MT
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Great Falls, MT
Official FY2026 HUD Fair Market Rents for Great Falls, MT MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $960 | $11,520 | $38,400 | 18.2% |
| 1-Bedroom Apartment | $979 | $11,748 | $39,160 | 18.5% |
| 2-Bedroom ApartmentBenchmark | $1,284 | $15,408 | $51,360 | 24.3% |
| 3-Bedroom Home | $1,786 | $21,432 | $71,440 | 33.8% |
| 4-Bedroom Home | $2,035 | $24,420 | $81,400 | 38.5% |
50/30/20 Living Budget in Great Falls, MT
Based on the local median household income of $63,373/year ($5,281/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Montana
Explore net income after federal income tax, FICA, and Montana state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Montana with official federal datasets:
Frequently Asked Questions About Living in Great Falls, MT
What is the median household income in Great Falls, MT?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Great Falls, MT is $63,373 per year (approximately $5,281 per month).
What is the average rent in Great Falls, MT?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Great Falls, MT are $960 for a studio, $979 for 1 bedroom, $1,284 for 2 bedrooms, $1,786 for 3 bedrooms, and $2,035 for 4 bedrooms.
How does the cost of living in Great Falls, MT compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Great Falls, MT is 96.8 (3.2% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Great Falls, MT?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,284/month) in Great Falls, MT requires a minimum gross household income of $51,360 per year ($4,280 per month).
What is a balanced 50/30/20 monthly budget in Great Falls, MT?
For a typical household earning the median income of $63,373/year ($5,281/month) in Great Falls, MT, a balanced 50/30/20 budget allocates $2,641/month to essential needs (rent, utilities, groceries), $1,584/month to discretionary spending, and $1,056/month to savings and debt repayment.
What are typical electricity and utility costs in Great Falls, MT?
Residential electricity rates in Montana average 15.1¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $136 per month.