Real Estate Investing in Great Falls, Montana (59404)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 59404 (Great Falls, MT)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Great Falls, MT (59404)?
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Market Analysis: 59404 Great Falls
ZIP 59404 in Great Falls, MT carries a substantial set of headwinds. Home values near $395K and rents of $1,608/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 59404 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 59404 among MT's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 59404 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 59404 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Great Falls:
Property Strategy for 59404
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $186,650 | $1,090 | 4.2% | +10.2% | $186,650 |
| 2BR | $256,592 | $1,430 | 4.0% | +10.3% | $128,296 |
| 3BR | $361,968 | $1,990 | 4.0% | +9.8% | $120,656 |
| 4BR | $404,707 | $2,270 | 4.0% | +9.3% | $101,177 |
| 5BR | $515,677 | — | — | +9.2% | $103,135 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 59404 Compare?
| Metric | 59404 | Great Falls | Great Falls, MT | Montana |
|---|---|---|---|---|
| Home Value | $394,674 | $203,150 | N/A | $457,278 |
| 5-Year CAGR | 7.7% | 8.2% | N/A | 9.2% |
| Avg Rent | $1,608 | $1,416 | N/A | - |
| Cap Rate | 3.2% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 59404 (Great Falls, MT). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $394,674 |
| Monthly Rent | $1,608 |
| Price-to-Rent | 20.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +7.7% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 59404
Population: 28,127
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 59404
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Great Falls, MT a good place for real estate investing?
Yes - Great Falls, MT a 3.0/5 investability score. With $395K home prices against $1,608/mo monthly rent, the market delivers a reasonable entry point for new investors.
Where do rents currently stand in Great Falls, MT?
Investors in Great Falls, MT typically see rents near $1,608/mo per month against $395K home values - a solid setup for rental cash flow.
Is Great Falls, MT landlord-friendly?
MT ranks as a landlord-friendly state for landlord-tenant law. Great Falls generally follows the statewide framework, so landlords face reasonable operating rules.
Which investment style suits Great Falls, MT?
Investors usually favor careful cash-flow rentals with hands-on management in Great Falls, MT. With home values at $395K and rents near $1,608/mo, other strategies can work but produce measured rather than outsized returns.
What kind of vacancy should I budget for in Great Falls, MT?
Occupancy in Great Falls, MT runs even-keeled with elevated vacancy. Well-priced units at $1,608/mo lease on reasonable timelines.
You know 59404 now. You don’t know where it ranks.
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How 59404 ranks in Great Falls, MT
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