The typical owner-occupied home in Great Falls is worth about $60,400, 77% below the South Carolina median of $259,000 and 82% below the national median of $332,700. Owners pay a median $589 a year in property taxes, about 0.98% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $30,458 a year, so the median home costs 2.0 times the median income (3.7 times for South Carolina). 82% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Great Falls at a glance
| Great Falls | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $60,400 | $259,000 | $332,700 |
| Median property tax paid per year | $589 | $1,251 | $3,119 |
| Property tax as a share of value | 0.98% | 0.48% | 0.94% |
| Median household income | $30,458 | $69,324 | $80,734 |
| Homes lived in by their owners | 82% | 72% | 65% |
| Owner homes with a mortgage | 25% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,065 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 51.0% | 19.7% | 21.0% |
| Median rent | $867 | $1,180 | $1,413 |
| Rent as a share of renters' income | 43.1% | 31.1% | 30.6% |
| Median year homes were built | 1956 | 1992 | 1980 |
| Vacant homes | 10.8% | 13.3% | 10.1% |
| Population | 1,690 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Great Falls
At this week's average 30-year rate of 7.11%, buying the median Great Falls home of $60,400 with 20% down costs about $400 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $500, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $17,123 for the 20%-down payment. That payment is 16% of the median Great Falls household income of $30,458; at that income and 20% down, the 28% guideline points to a home of about $107,000.
The median rent here is $867 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $12,080 |
|---|---|
| Loan amount | $48,320 |
| Principal and interest | $325 |
| Property taxes (0.98% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $400 |
Change the numbers in the calculator
| Down payment | $2,114 |
|---|---|
| Loan amount | $59,306 |
| Principal and interest | $399 |
| Property taxes (0.98% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $27 |
| Total per month | $500 |
Change the numbers in the calculator
Questions about home buying in Great Falls
What is the median home value in Great Falls?
About $60,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Great Falls?
Homeowners pay a median $589 a year, which is about 0.98% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Great Falls?
For the median home with 20% down at 7.11%, the payment is about $400 a month. Keeping that under 28% of gross income takes about $17,123 a year.
More about Great Falls
- Mortgage Refinance in Great Falls
- Debt Relief in Great Falls
- Home Equity Loans in Great Falls
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data