Living in Thompson Falls, Montana
Cost of living, income, home prices, rent and demographics of Thompson Falls · Census data 2020–2024
Thompson Falls has 1,500 residents with a median age of 48.8. The median household income is $46,313 (36% lower than the Montana median), the median home value is $266,400, the median rent is $543/month.
Thompson Falls at a glance
- Population
- 1,500
- Median age
- 48.8State: 40.4
- Median household income
- $46,313State: $72,509
- Median home value
- $266,400State: $375,800
- Median rent
- $543/moState: $1,081
- Homeowners
- 73.4%
- Bachelor's degree or higher
- 18.6%
- Average commute
- 14 min
Is Thompson Falls a good place to live?
Pros: Home values 29% lower than the state median; an average commute of 14 minutes; unemployment of 0%; a poverty rate of 6.5%.
Cons: Median household income 36% lower than the Montana median.
The weather is best in June to September.
Cost of living in Thompson Falls
Housing is the biggest part of the cost of living. In Thompson Falls the median home value is $266,400, 20% lower than the U.S. median. Renters pay a median of $543 per month, which is 22.9% of household income. Homeowners with a mortgage pay $1,221 a month in housing costs.
Thompson Falls median household income
The median household income in Thompson Falls is $46,313 and the income per person is $25,576. 6.5% of residents live below the poverty line (Montana: 11.5%).
Housing in Thompson Falls: homes for sale and rent
- Housing units
- 726
- Owner-occupied
- 73.4%
- Renter-occupied
- 26.6%
- Vacant
- 14.2%Includes seasonal homes
- Median year built
- 1975
- Average household size
- 2.34
Thompson Falls demographics
- Population
- 1,500
- Median age
- 48.8
- Under 18
- 21.5%
- 65 and older
- 30.5%
- Households
- 623
- Foreign-born
- 0%
- Veterans
- 12.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Thompson Falls ›
Education in Thompson Falls
18.6% of adults 25 and older in Thompson Falls have a bachelor's degree or higher (Montana: 35.2%), and 2.8% have a graduate or professional degree.
Jobs and commute in Thompson Falls
- Unemployment rate
- 0%State: 3.6%
- Average commute
- 14 minState: 19 min
- Work from home
- 3.4%
- Drive alone
- 73.8%
- Public transit
- 2.8%
- Walk to work
- 4.9%
- Homes with broadband
- 81.1%
Thompson Falls vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Thompson Falls | 1,500 | $46,313 | $266,400 | $543 |
| Weeksville | 147 | $64,333 | $782,300 | — |
| Trout Creek | 252 | $64,853 | — | $643 |
| Mullan | 890 | $68,125 | $210,600 | $1,250 |
| St. Regis | 406 | $61,000 | $208,600 | $775 |
| Plains | 1,195 | $25,491 | $248,300 | $843 |
| Wallace | 1,027 | $51,492 | $232,700 | $727 |
| Silverton | 652 | $90,074 | $286,800 | — |
| Hot Springs | 557 | $21,300 | $150,900 | $725 |
More for people moving to Thompson Falls
Thompson Falls ZIP code ›Weather and climate ›Living in Thompson Falls: FAQ
What is the median household income in Thompson Falls, MT?
The median household income in Thompson Falls is $46,313, 36% lower than the Montana median of $72,509 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Thompson Falls?
The median home value in Thompson Falls is $266,400, compared with $375,800 in Montana.
How much is rent in Thompson Falls?
The median gross rent in Thompson Falls is $543 per month, about 22.9% of household income.
Is Thompson Falls, MT a good place to live?
Pluses: home values 29% lower than the state median; an average commute of 14 minutes; unemployment of 0%; a poverty rate of 6.5%. Minuses: median household income 36% lower than the Montana median.
What is the median age in Thompson Falls?
The median age in Thompson Falls is 48.8 years (Montana: 40.4).
How long is the commute in Thompson Falls?
The average commute to work in Thompson Falls is 14 minutes; 3.4% of workers work from home.
What is the unemployment rate in Thompson Falls?
The unemployment rate in Thompson Falls is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Thompson Falls?
18.6% of adults in Thompson Falls have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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