Average Cost of Living in Montana: $42,310 per year 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.
How much money do you need to make 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.
What town in Montana is the cheapest to live in?
The cheapest places to live in Montana are in Colstrip and Wolf Point. These are two of the eight towns in Montana that offer low gasoline, grocery, and housing prices.
What is the average cost of living in Montana?
Our cost of living indices are based on a US average of 100. An amount below 100 means Montana is cheaper than the US average.
Montana cost of living is 94.0.
| COST OF LIVING | Montana | United States |
|---|---|---|
| Health | 100.2 | 100 |
| Housing | 100.4 | 100 |
| Median Home Cost | $353,700 | $291,700 |
| Utilities | 90.7 | 100 |
How much is the average rent in Montana?
Montana Rent Trends
| Average Rent | Mar / 2022 | Jul / 2022 |
|---|---|---|
| Montana | $1,384 | $1,461 |
| National | $1,634 | $1,706 |
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.
What is rent like 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.
What is low income in Montana?
$1,506. $1,570. Annual Income Needed to Afford. Montana. Billings HMFA.
Is property expensive in Montana?
The high cost of living in Montana comes down to the booming local property market. According to Patrick Barkey, the Director of the Montana Bureau of Business and Economic Research, housing prices have more than doubled since the year 2000 across five Montana counties.
Is housing cheap in Montana?
The median home price is $115,000, and the average rent is $560. Located in north-central Montana, Conrad’s cost of living is about 12 percent lower than the U.S. average. One of the most affordable places to live in Montana, a home here will cost around $120,000, while the median rent is roughly $700.
Is rent expensive in Montana?
According to the US Census Bureau, the median home price in Montana in 2019 dollars was $230,000. And the median rent was listed at $810 per month. Compared to other places in the United States, housing and rent costs are notedly lower. However, the housing price in Montana is higher than the United States average.
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.
Are groceries expensive in Montana?
Montana is also an expensive state for groceries. Shopping for food there costs 4.6% more than the nationwide average.
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 move to?
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 are the winters in Montana?
Winter in Montana
The winter season can feel quite cold and long. Snow and wind storms happen regularly and blizzards dump many inches of snow, which can cause road, trail, and mountain pass closures for multiple days. January is the coldest, snowiest, and iciest month of the year across the state.
What is the best state to live in financially?
The five best states for your personal finances in 2022 are (No. 1 being best): Tennessee.
- New Jersey.
- Hawaii.
- Connecticut.
- Alaska.
- Illinois.
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 state is most expensive to live in?
Hawaii
Hawaii. Hawaii is the most expensive state to live in the United States. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Hawaii has the highest costs across all indexes, except healthcare.
Where is the cheapest rent in the United States?
Cheapest State for Rent in the US
The least expensive state for rent is West Virginia with an average rent price of $800.
Is it cheaper to live in Montana or Arizona?
Arizona is 7.8% more expensive than Montana.