Thinking about buying or selling in Great Falls but not sure where to start? You are not alone. This market blends city convenience with true Montana land and lifestyle, which means the details matter. In this guide, you will learn how the local economy shapes demand, what types of homes you will find, the rules and inspections that can affect your deal, and smart steps to move with confidence. Let’s dive in.
Great Falls at a glance
Great Falls typically offers more affordability than larger Montana markets like Bozeman and Missoula. Inventory and activity tend to be seasonal, with more listings and showings each spring and summer and slower months in winter. To read the market clearly, track median sale price, days on market, months of supply, and the sale-to-list price ratio. Ask your agent for current figures and the latest local MLS report so you can anchor your plan to up-to-date numbers.
Who lives and works here
You will find a balanced mix of households, including military families, healthcare professionals, service and retail workers, and those tied to agriculture and ag-support industries. Malmstrom Air Force Base is a key driver of steady housing demand due to ongoing personnel rotations. Benefis Health System and other healthcare providers also support consistent buyer and renter activity. Agriculture, regional retail and services, and pockets of energy or manufacturing round out the local economy and help stabilize the market through ups and downs.
Housing stock and neighborhoods
Inside city limits, you will mainly see single-family homes on municipal water and sewer, along with some duplexes, small apartment buildings, and manufactured homes. The age mix ranges from early 20th century properties near downtown to mid-century neighborhoods and more recent infill. West of the river and near the city center, you will find a blend of residential and light commercial pockets, while areas near Malmstrom AFB include established subdivisions that appeal to military and civilian buyers alike.
In outlying parts of Cascade County, many properties sit on acreage and rely on wells and septic systems. These rural homes can be great for privacy, livestock, or recreational use, but they come with different inspection and maintenance needs. If you are considering land or a hobby ranch, budget time for due diligence on water rights, access, and onsite systems.
What moves the market seasonally
Listings usually rise in spring and summer as sellers aim for easier moving weather and buyers time closings around school calendars. Winter can bring fewer new listings and a slower pace, which sometimes creates opportunity for motivated buyers. The military rotation cycle can bring regular waves of demand and new inventory. Mortgage rate changes also affect affordability and showings, so it is smart to watch rate trends as you plan.
Prices and pace to watch
Understanding a few core metrics will help you make better decisions:
- Median sale price: Anchors affordability and pricing strategy.
- Days on market: Signals buyer demand and how quickly you may need to act.
- Months of supply: Helps define buyer, seller, or balanced market conditions.
- Sale-to-list price ratio: Shows how close homes sell to asking price.
When months of supply is low, sellers hold more leverage and multiple offers may occur. When supply increases, buyers often gain room for negotiation and concessions. Always use the most recent 3 to 6 months of closed comparable sales for pricing and offers.
Rules, taxes, and inspections that matter
Property taxes and assessments
In Cascade County, assessed value is not the same as market value. Your tax bill is based on the county’s assessment process and local mill levies, which can change over time. Buyers should review a property’s current and historical assessments with the county, and sellers should be prepared to answer questions about taxes. There is an appeals process on assessments, so take note of county deadlines and instructions.
Zoning and permits
Inside Great Falls city limits, permits are required for most remodeling, additions, and accessory structures. Zoning rules determine what you can build or use a property for, so confirm zoning designations and setbacks before you plan a project. In rural Cascade County, check county zoning and subdivision regulations, especially if you plan to split land, add an accessory dwelling, or develop a larger tract.
Floodplain and environmental
Parts of Great Falls along the Missouri River and near tributaries may fall within mapped floodplains. Your lender may require flood insurance if a property is in a flood zone. Verify flood status early using official floodplain maps. Montana also has areas with elevated radon levels, so radon testing is commonly recommended as part of a home inspection.
Utilities and onsite systems
Within city limits, most homes connect to municipal water and sewer. In outlying areas, wells and septic systems are common. Buyers should order specialized well flow and water quality tests, septic inspections, and confirm system permits and maintenance records. Sellers can help by compiling documentation for any onsite systems, including pumping records or recent upgrades.
Seller disclosures
Montana requires sellers to disclose known material defects. Local REALTOR association forms are commonly used to document conditions and recent work. If your property has a well, septic, or older systems, provide any service records or permits you have on hand. Clear, complete disclosures reduce surprises and keep deals on track.
Special programs and exemptions
Some buyers and owners may qualify for programs such as veterans’ property tax relief or homestead and disabled exemptions. Review eligibility criteria with the county or state and file any required forms on time.
Financing in Great Falls
VA loans and military buyers
With Malmstrom AFB in town, VA lending is common. If you are eligible, a VA loan can offer competitive terms and no down payment, subject to entitlement and lender guidelines. Choose a lender experienced with VA appraisals and local comps, and make sure your agent understands VA-specific requirements that can affect repairs and timelines.
USDA Rural Development loans
Some properties in outlying parts of Cascade County may be eligible for USDA financing. If you want a rural home with a lower down payment, check property eligibility and household income limits. Work with a lender who regularly closes USDA loans so your timeline and documentation stay on track.
FHA and conventional loans
FHA loans can help first-time buyers with lower down payment options, while conventional loans may provide flexibility on mortgage insurance and appraisal rules. In smaller markets, appraisers sometimes use broader-area comparable sales, so prepare for potential adjustments and be conservative on pricing.
Mortgage rate context
Rates shift based on national trends. Keep an eye on weekly mortgage rate surveys and talk with your lender about rate locks and buydown options. A small rate change can significantly affect your monthly payment and your purchasing power.
Buyer game plan
What to do first
- Get pre-approved with a lender who knows the Great Falls market, VA lending, and rural loan programs.
- Share your must-haves and deal-breakers with your agent so new listings are screened efficiently.
- Ask for the latest market snapshot, including median price, days on market, and months of supply.
Smart property checks
- Order a general home inspection and add radon testing.
- For rural homes, add well flow and water quality tests, septic inspection, and verify system permits.
- Check floodplain status early if a property is near the river or creeks.
Offer and negotiation tips
- Use recent comparable sales from the last 3 to 6 months.
- Expect common contingencies for inspection, appraisal, and financing.
- In busier seasons, be ready to act quickly on well-priced homes.
Seller game plan
Prepare to impress
- Focus on curb appeal and take care of basic repairs like roofing, windows, and HVAC service.
- Declutter and clean to help buyers see the space, then prioritize low-cost updates that show well in photos.
- Gather maintenance records, permits, and disclosure details, especially for wells and septic systems.
Price with precision
- Price to recent closed comps, not older sales. Adjust for seasonality and current supply.
- Review net proceeds with your agent so you understand the impact of concessions and closing costs.
- Monitor showing feedback and market activity in the first two weeks and adjust if needed.
Timeline and negotiation
- Typical transactions include financing, inspection, and appraisal contingencies.
- In a balanced market, you may still see multiple offers on standout homes. In slower periods, be open to concessions that keep a qualified buyer engaged.
Commute, schools, and lifestyle basics
Many neighborhoods offer quick drives to downtown, major roads, and base access. Average commute times are generally moderate for a city this size. Great Falls Public Schools serves the city, and the area includes higher education options such as Great Falls College and the University of Providence. Recreational access is a highlight, with the Missouri River corridor, parks, local trails, and Giant Springs State Park offering year-round ways to enjoy Montana’s outdoors.
Local resources to use
- Cascade County Assessor and Treasurer for assessments, mill levies, and tax payments
- City of Great Falls Planning and Building for permits and zoning
- FEMA Flood Map resources for flood zone status
- Montana labor market data for employment trends
- Local MLS or association market reports for real-time housing statistics
- Great Falls Public Schools and state education report cards for district information
Ready to talk through your plan and get the latest numbers for your price point and neighborhood? Schedule a Free Consultation with Hibbard Realty. You will get local insight on both in-town homes and rural acreage, plus a clear, step-by-step path to your goal.
FAQs
How affordable is Great Falls compared with other Montana cities?
- Great Falls is typically more affordable than larger markets like Bozeman and Missoula. Ask your agent for the current median sale price, price per square foot, and months of supply to compare.
Is Great Falls a good market for first-time homebuyers?
- Many entry-level and mid-range homes come on the market each spring and summer, and FHA, VA, and conventional financing can help. A solid pre-approval and quick scheduling for showings will improve your odds.
How does Malmstrom AFB influence housing demand in Great Falls?
- Base assignments create regular cycles of buyers and renters, which helps stabilize demand. VA loans are common, so sellers should be ready for VA appraisal requirements and related repairs if needed.
Do I need flood insurance for a home near the Missouri River?
- It depends on the property’s FEMA flood zone designation and your lender’s policies. Verify the flood zone early and factor potential insurance costs into your budget.
What inspections are especially important in Great Falls and Cascade County?
- Radon testing is commonly recommended, and for rural properties you should include well flow, water quality, and septic inspections. A thorough roof, HVAC, electrical, and foundation review is smart for homes of all ages.
What should sellers prioritize before listing in Great Falls?
- Handle basic repairs, boost curb appeal, and complete disclosures with system records. Pricing to recent comps and adjusting based on early showings will help you hit the market right.
