Thompson Falls, MT
Population 1,568 · Montana
About Thompson Falls, MT
Thompson Falls is a small town located in Montana with a population of 1,568 residents according to the latest US Census Bureau American Community Survey data. The median household income is $53,203 per year, which is 29% below the national median of $75,149. The median age of 47.2 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Thompson Falls features a median home value of $182,200, which is 26% below the national median of $244,900. This positions Thompson Falls in a moderately priced market relative to the rest of the country. Median monthly rent is $575, 51% below the national average of $1,163/month. Of the 746 total housing units, 78% are owner-occupied (490 units) and 22% are renter-occupied (138 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Thompson Falls shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Thompson Falls have an average one-way commute time of 13.4 minutes, one of the shorter commutes in the region.
Education & Demographics
19.8% of Thompson Falls residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.2% White, 9.7% Hispanic or Latino, 2.2% Black or African American, and 1.4% Asian residents, with 0.0% of the population being foreign-born.
How Thompson Falls Ranks in Montana
Cost of Living in Thompson Falls, MT
Compared to national averages, Thompson Falls has a median household income of $53,203 (29% below the national median of $75,149). Home values average $182,200, which is 26% below the national median. Monthly rent at $575 is 51% below the US average of $1,163. Within Montana, Thompson Falls's income is 19% below the state average of $65,821, and home values are 37% below the state median of $288,703.
Why Live in Thompson Falls, MT?
Thompson Falls offers affordable housing with a median home value of $182,200, below the US average of $244,900, and rent that’s lower than the national average at $575/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 7.7%, better than the national average, and short commute times averaging just 13.4 minutes.
Potential considerations include median household income ($53,203) that falls below the national average. However, Thompson Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Thompson Falls has a population of 1,568 with a median age of 47.2 years. Compare Thompson Falls with other cities to see how it stacks up, or explore all cities in Montana.
Similar Cities Near Thompson Falls
Cities in Montana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Helena West Side | 1,584 | $67,692 | $411,800 | Compare |
| Baker | 1,535 | $78,971 | $198,800 | Compare |
| Big Timber | 1,530 | $63,514 | $235,100 | Compare |
| Sun Prairie | 1,514 | $61,004 | $156,800 | Compare |
| Frenchtown | 1,629 | $90,767 | $391,600 | Compare |
| Fort Benton | 1,470 | $67,171 | $201,900 | Compare |
| Chinook | 1,460 | $71,500 | $205,900 | Compare |
| Plentywood | 1,677 | $62,163 | $148,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Montana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Thompson Falls With Other Cities
Frequently Asked Questions about Thompson Falls
What is the population of Thompson Falls, MT?
The population of Thompson Falls, MT is 1,568 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Montana.
What is the median household income in Thompson Falls?
The median household income in Thompson Falls, MT is $53,203 per year, which is 29% below the national median of $75,149.
What is the median home value in Thompson Falls?
The median home value in Thompson Falls, MT is $182,200, which is 26% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Thompson Falls?
The median monthly rent in Thompson Falls, MT is $575, which is 51% below the national average of $1,163/month.
What is the unemployment rate in Thompson Falls?
The unemployment rate in Thompson Falls, MT is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Thompson Falls, MT a good place to live?
Thompson Falls offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,568 and a median age of 47.2, the city appeals to established professionals and retirees.
How educated is Thompson Falls, MT?
19.8% of residents in Thompson Falls aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Thompson Falls?
Key cost-of-living indicators for Thompson Falls, MT: median home value is $182,200 (26% below national), median rent is $575/month, and median household income is $53,203. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Thompson Falls?
The poverty rate in Thompson Falls, MT is 7.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Thompson Falls, MT?
Thompson Falls's population is 2.2% White, 9.7% Hispanic or Latino, 2.2% Black or African American, 1.4% Asian, and 0.4% two or more races. 0.0% of residents are foreign-born.