Housing Costs in Montana Although two-thirds of Montana’s residents are homeowners, rentals in the state offer some premium deals. A 2019 report from Apartment List shows the median studio rent in the state is $554. That comes out to $277 less than the national mark.
Is it expensive to live in Montana?
An amount below 100 means Montana is cheaper than the US average. A cost of living index above 100 means Montana, Montana is more expensive.
Montana cost of living is 94.0.
| COST OF LIVING | Montana | United States |
|---|---|---|
| Grocery | 99.6 | 100 |
| Health | 100.2 | 100 |
| Housing | 100.4 | 100 |
| Median Home Cost | $353,700 | $291,700 |
How much money do you need to live in Montana?
The living wage in Montana is $16.32 per hour, which is the basic wage needed to pay for essentials such as housing, food, and necessities for an individual adult. The average salary index in Montana is $48,427 per year, roughly $23.28 per hour.
How much does it cost to live comfortably in Montana?
Quick Rundown of Cost of Living in Montana
| Cost of Living | Montana | USA |
|---|---|---|
| Housing | 100.4 | 100 |
| Median House Cost | $353,700 | $291,700 |
| Health | 100.2 | 100 |
| Utilities | 90.7 | 100 |
Why is Montana expensive to live in?
While the reason why Montana is expensive makes sense, the rising inflation rates and housing boom are not unique to just the state. It is certainly something to consider when looking to move but should not detract those wanting to call the beautiful state their home.
What is the average wage in Montana?
In 2021, the average annual pay of employees in Montana totaled to 51,322 U.S. dollars. This is an increase from 2001 levels, when this value stood at 25,195 U.S. dollars.
Which state has lowest cost of living?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
Is it cheaper to live in Texas or Montana?
Texas is 0.4% more expensive than Montana.
Is Montana affordable to live?
According to MERIC data in the third quarter of 2021, Montana ranks 30th when it comes to cost of living. That means Montana is more expensive to live in than half of the country. If you have your heart set on living in the Rocky Mountain region, Wyoming is a much more affordable option, ranked 18th on the same list.
Is it cheaper to live in Montana or Arizona?
Arizona is 7.8% more expensive than Montana.
What is a good hourly wage in Montana?
Hourly Rate Salary in Montana
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $80,759 | $39 |
| 75th Percentile | $49,623 | $24 |
| Average | $48,602 | $23 |
| 25th Percentile | $28,703 | $14 |
How much is food in Montana?
Montana Food Costs
In Montana, a single adult spends an average of $3,178 on food annually, and a family of four spends $9,179 on average. For context, the nationwide average annual food expenditure is $3,240 for a single adult and $9,354 for a family of four.
Is Montana a good state to live?
Montana Is Full of Great Places to Live
Although far down the list of most populous states, Montana has two cities ranked among Livability’s 2018 Top 100 Best Places to Live. The college towns of Bozeman, home of Montana State University, is ranked No. 96; and Missoula, home to the University of Montana is ranked 59.
How much is average rent in Montana?
Montana Rent Trends
| Average Rent | Mar / 2022 | Jul / 2022 |
|---|---|---|
| Montana | $1,384 | $1,461 |
| National | $1,634 | $1,706 |
What should I know before moving to Montana?
15 Things to Know Before Moving to Montana
- You’ll want to get out into nature.
- Public universities are a good option here.
- Population density is low.
- Skiing, snowboarding, hunting and fishing are big.
- Winters are freezing.
- Montana is politically divided.
- Ranching is alive and well.
What is the most common job in Montana?
What Are the Most Popular Jobs in Montana?
- Office and Administrative Support Occupations with 67,620 employed.
- Sales and Related Occupations 49,960 employed.
- Food Preparation and Serving Related Occupation 46,030 employed.
- Healthcare Practitioners and Technical Occupations 29,340 employed.
Is there a lot of work in Montana?
Montana’s labor force participation is relatively high. Nearly 80 percent of prime-age workers in Bozeman, Billings, Missoula and Helena are employed. Each of these areas ranks in the top 10 percent of metro- or micro-areas. As such, Montana’s ability to grow a workforce through greater participation is limited.
What is middle class in Montana?
The common approach is to categorize the middle class as the group of earners at the center of the earnings scale, or the median.
How much you have to earn to be middle class in every state.
| State | Middle-class income | Median household income |
|---|---|---|
| Rhode Island | $62,691 | $71,169 |
| Arizona | $61,699 | $62,055 |
| Delaware | $60,015 | $70,176 |
| Montana | $59,496 | $57,153 |
What is the best state to live in financially?
Alaska is the top state for fiscal stability. It’s followed by South Dakota, Tennessee, Idaho and Utah to round out the top five. Half of the 10 states with the best fiscal stability also rank among the top 10 Best States overall.
Which state has the cheapest food?
The most notable exception is New Hampshire, which, despite being an East Coast state, actually has the lowest food costs in the nation.
What are the 10 most expensive states to live in?
Here are the 10 states with the highest cost index:
- Hawaii (193.3)
- New York (148.2)
- California (142.2)
- Massachusetts (135)
- Oregon (130.1)
- Alaska (127.1)
- Maryland (124)
- Connecticut (121.6)