| Index | Great Falls | Virginia | National |
| Cost of living | 228 | 111 | 100 |
| Groceries | 104 | 103 | 100 |
| Health care | 101 | 103 | 100 |
| Housing | 517 | 129 | 100 |
| Transportation | 107 | 105 | 100 |
| Utilities | 103 | 104 | 100 |
| Lifestyle & Entertainment | 99 | 103 | 100 |
| Household Items | 100 | 102 | 100 |
| Education & Childcare | 110 | 109 | 100 |
Understanding the cost of living in Great Falls can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Great Falls cost of living index is 228, which is 128% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
The cost of living in Great Falls is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Great Falls falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs make up a big chunk of the cost of living in Great Falls, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 417.1% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Wondering if Great Falls is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Great Falls, for example, the median home price is 509% higher than what folks pay nationally, and monthly rent is 202.4% higher than the usual rates. Plus, income levels matter too, with Great Falls boasting a median household income of $361,588, which is 344.6% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Great Falls comes in at 2.5% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Great Falls, healthcare costs are 1.1% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Great Falls, the groceries index is 3.6% higher than the national average.
The Great Falls cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $374,540 | $31,212 | $8,739 | $11,237 |
| Renters | $238,234 | $19,853 | $5,558 | $7,148 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Wakefield town, VA | 838 | 92 | 8.4% |
| Leisure World, MD | 9,569 | 119 | 19.1% |
| Montgomery Village, MD | 35,133 | 127 | 26.7% |
| University Center, VA | 3,997 | 124 | 24.4% |
| Germantown, MD | 92,229 | 134 | 34.4% |
| Great Falls, VA | 15,140 | 228 | 127.6% |
| City | Population | Cost of Living Index | National Avg. |
| Groveton, VA | 15,142 | 140 | 40.2% |
| Oldsmar, FL | 15,135 | 112 | 12.3% |
| Bluffdale, UT | 15,121 | 141 | 41.2% |
| Scottsbluff, NE | 15,165 | 92 | 8.3% |
| Greenlawn, NY | 15,169 | 138 | 38.4% |
| Great Falls, VA | 15,140 | 228 | 127.6% |
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