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 do you need to live comfortably in Montana?
The recommended salary in Bozeman, Montana is $5,834 per month or $70,008 annually. This total reflects a salary that would allow a renter to live comfortably and afford to cover the median rent for a one-bedroom apartment which sits at $1,750.
Why is Montana expensive to live?
Final Verdict: Why is Montana so Expensive? Due to increased demand and reduced supply, the housing market in Montana is experiencing a significant boom. These high prices trickle down into the rest of the economy, resulting in a higher cost of living than the national average.
Is it expensive to move to Montana?
Living in Montana is rather affordable in comparison with other states. Despite the fact that the cost-of-living index is 2.8% higher than the average national index, in most cases, it is cheaper to live in this state than around the rest of the US.
Is Montana a good state to live in?
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.
What is minimum wage in Montana?
$9.20 an hour
HELENA — On Jan. 1, 2022, Montana’s minimum wage will make its biggest increase in years: rising 45 cents, from $8.75 to $9.20 an hour. That’s the most it’s grown in a single step since 2007.
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 average rent in Montana?
Montana Rent Trends
| Average Rent | Mar / 2022 | Jul / 2022 |
|---|---|---|
| Montana | $1,384 | $1,461 |
| National | $1,634 | $1,706 |
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.
What are the pros and cons of living in Montana?
Here’s my top 10 list of moving to Montana pros and cons:
- An amazing outdoor setting.
- Limited effects of urbanization.
- Reasonable cost of living.
- Plenty of jobs and education options.
- Interesting residents.
- Extreme and diverse weather.
- Lacking in urban amenities.
- Too many tourists.
Is it expensive to buy a house in Montana?
Montana is an exception, however. The typical household in the state earns $57,153 annually, $8,600 less than the national median household income of $65,712.
This Is the Average Cost of a Home in Montana.
| Rank | 50 |
|---|---|
| State | West Virginia |
| Value of a typical single-family home | $118,581 |
| 1-yr. increase in home value | 8.2% |
| Median household income | $48,850 |
Does Montana have a income tax?
Montana Tax Rates, Collections, and Burdens
Montana has a graduated individual income tax, with rates ranging from 1.00 percent to 6.75 percent. Montana has a 6.75 percent corporate income tax rate. Montana does not have a state sales tax and does not levy local sales taxes.
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.
Is it hard to move to Montana?
Finding a home can be tough
Availability is scarce, prices are high and the markets are competitive, meaning many people relocating to Montana are having a hard time finding a place to live, whether they are looking to purchase or to rent.
Is it cheaper to live in Texas or Montana?
Texas is 0.4% more expensive than Montana.
How many hours is full time in Montana?
40 hours
Full-time. Under the laws of Montana, you are considered a “full-time” employee if you typically work over 40 hours during a given work week. Those working less than 40 hours are considered “part-time” employees.
What state has lowest minimum wage?
Mississippi. No state minimum wage law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour.
What is Montana known for?
Montana is most famous for its natural beauty, diverse wildlife, and abundance of natural mineral resources. That is why it is called the “Treasure State”. The Rocky Mountains and Yellowstone National Park are two of the state’s most well-known features.
What are the main jobs 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.