Three Forks, MT Profile: Facts & Data

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Three Forks, Montana - Basic Facts

The City of Three Forks had a population of 2,133 as of July 1, 2023. Three Forks ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Montana. See peer rankings below.

The primary coordinate point for Three Forks is located at latitude 45.8924 and longitude -111.5522 in Gallatin County. The formal boundaries for the City of Three Forks encompass a land area of 1.44 sq. miles and a water area of 0.06 sq. miles. Gallatin County is in the Mountain time zone (GMT -7).

The City of Three Forks has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Montana is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Three Forks is located within Three Forks Division of Gallatin County.


Jump to... (On This Page!)
  1. Three Forks 2023 Demographic Data
  2. Growth Rates for Three Forks (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Montana Research Tools (Easy Tools & Current Data)
  3. Montana Data Comparison Tool - 2023 Demographics
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Three Forks, MT Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 2,133 (100%)
Population in Households 2,125 (99.6%)
Population in Families 1,709 (80.1%)
Population in Group Quarters1 8 ( 0.4%)
Population Density 1,483
Diversity Index2 27
 
 

INCOME

Median Household Income $64,774
Average Household Income $88,514
% of Income for Mortgage4 29%
Per Capita Income $35,984
Wealth Index5 64
Socioeconomic Status Index6 Moderate (57.7)
 

HOUSING

Total HU (Housing Units) 921 (100%)
Owner Occupied HU 538 (58.4%)
Renter Occupied HU 329 (35.7%)
Vacant Housing Units 54 ( 5.9%)
Median Home Value $312,376
Average Home Value $311,106
Housing Affordability Index3 88
 

HOUSEHOLDS

Total Households 867
Average Household Size 2.45
Family Households 558
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2023 2023-2028
Population 2.17% 0.79%
Households 1.65% 0.97%
Families   0.78%
Median Household Income   0.98%
Per Capita Income   2.42%
Owner Occupied HU   1.79%

Three Forks, MT - Peer Comparisons by Rank and Percentile

The table below compares Three Forks to the other 497 incorporated cities, towns and CDPs in Montana by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 50 90th
Population Density # 44 91st
Median Household Income # 173 65th
Housing Affordability Index # 363 73rd
Per Capita Income # 216 57th
Diversity Index # 157 69th

Additional comparisons and rankings can be made with a VERY EASY TO USE Montana Census Data Comparison Tool.

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