Department of Numbers

This section of Department of Numbers is no longer being updated and may be removed in the future. The data here is out of date and should no longer be used.

Great Falls, Montana Home Affordability

The data below measures home affordability for the Great Falls, Montana metropolitan area using price-to-income and price-to-rent metrics.1 The maximum affordable loan amount for the median household income is also calculated. You can also compare Great Falls home affordability to other cities.

Great Falls, Montana Home Price-to-Income Ratios

The second chart shows a history of the ratio as an index calculated from the Federal Housing Finance Agency's Great Falls HPI series. Median household income data for Great Falls is from the Census American Community Survey.

Price-to-Income Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Great Falls, Montana Home Price-to-Income Ratio History

Date FHFA (Index Ratio)
December 2013 130.2
September 2013 132.8
June 2013 131.1
March 2013 130.4
December 2012 128.6
September 2012 128.2
June 2012 124.5
March 2012 124.2

Great Falls, Montana Home Price-to-Rent Ratios

The chart below shows an index of the rent ratio calculated from the metro FHFA HPI series and the Great Falls median contract rent data from the Census ACS.

Price-to-Rent Index Ratio: FHFA

Note: Index set to 100 in Q1 of 2000

Great Falls, Montana Home Price-to-Rent Ratio History

Date FHFA (Index Ratio)
December 2013 114.2
September 2013 116.5
June 2013 115.0
March 2013 114.3
December 2012 112.8
September 2012 112.4
June 2012 109.2
March 2012 109.0

Great Falls, Montana Inferred Affordable Mortgage

The inferred affordable mortgage value is determined by taking the median household income for Great Falls, Montana and calculating the mortgage 30% of that income could afford. Traditionally, 30% of income is the maximum amount a homeowner could use towards a home loan. Inferred affordable loan values are calculated from ACS median household income and average monthly mortgage rates.

Inferred Affordable Mortgage

Great Falls, Montana Inferred Affordable Mortgage History

Date Inferred Mortgage
February 2014 $210,822
January 2014 $207,607
December 2013 $206,876
November 2013 $211,826
October 2013 $213,601
September 2013 $206,148
August 2013 $206,876
July 2013 $209,082
June 2013 $216,695
May 2013 $231,186
April 2013 $233,788
March 2013 $230,328
February 2013 $231,473

1. Specifically, home prices are from the non seasonally adjusted FHFA all-transactions quarterly series. Dollar ratios are calculated using NAR metro prices when available. Rent and income data are from the Census ACS and are carried forward into the following year prior to release of the new data. ↩

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