To give you a rough idea of the cost of living in Montana, we have included a comparison of Big Sky Country compared to the national state average. Quick Rundown of Cost of Living in Montana If you are really looking for the best combination of a quiet community and an affordable cost of living, consider one of Montana’s smaller cities or towns. This means that for these communities the cost of living is higher, and you’ll need to make more to live in these cities. Over the last few years, larger communities like Missoula, Billings, and Bozeman have seen spikes in housing prices that other communities aren’t experiencing. This variability has a lot to do with the fact that most food products are shipped to Montana, and with a short growing season the availability of locally grown produce is limited. When it comes to buying food, Montana is pretty similar to the rest of the United States with food prices between 5% below average to about 3% above the average. When it comes to utilities (electric, natural gas, water, trash, and internet/phone/cable) Montana residents pay about 10% less than other states. In Montana, residents pay about 25% less than other parts of the US to have and maintain a vehicle. Transportation costs include insurance rates, gas prices, and the cost of purchasing and maintaining a vehicle. We found that in two categories utilities and transportation, the average costs to consumers in Montana were substantially lower than in other parts of the US. These include the cost of groceries and utilities because everyone needs to eat and lights, heat, and water are pretty nice to have too. We took a broad look at some of the other basic expenses that play into the cost of living in Montana. For larger communities, this has pushed the home and rent prices up. In the last few years, Montana’s larger cities have seen an influx of new residents, making affordable housing harder to find, and the stock of available homes and apartments has also decreased. However, the housing price in Montana is higher than the United States average. And the median rent was listed at $810 per month.Ĭompared to other places in the United States, housing and rent costs are notedly lower. While Montana has fewer people, this also means that there are fewer homes available, due to lower demands historically.Īccording to the US Census Bureau, the median home price in Montana in 2019 dollars was $230,000. One of the things that you should consider when you are looking at moving to Montana is the availability of affordable housing. Housing and Rent in Montanaįor most people looking to move to a new place, housing costs are the biggest consideration. Montana is one of the few states that does not have a state sales tax, and the state income tax is also very low, so residents in Montana bring home more pay, and don’t have to pay as much for things like food and clothing.
While this salary may be considered low in some other parts of the United States, in Montana it is a fairly reasonable salary, and considering the cost of housing and other expenses (we’ll cover this later), this can be a comfortable salary for a family of four. The average annual salary in Montana is around $55,000 per year or about $27 per hour, before taxes.
This will tell you whether moving to Montana is practical for you and your family, based on your expected bills. The first thing you need to consider when looking at the cost of living in Montana is the wages and taxes. Quick Rundown of Cost of Living in Montana.However, certain towns are more expensive than others, with the highest cost of living in Montana being found in Bigfork, Hamilton, and Whitefish.īelow we will give you a breakdown of the cost of living in Montana so you know what to expect when moving: This may seem high when compared to neighboring Wyoming which ranks 21st.
Lets dive in! Cost of Living in MontanaĪccording to MERIC Data as of the start of 2023, Montana ranks 34th in the country when assessing the cost of living. There is one problem with the thought process above….if you find yourself drawn to the Montana lifestyle, you’re not alone! The demand for this lifestyle has definitely driven the cost of living higher in the state. There are actually more cows in Montana than people. It is the fourth-largest state by land area in the United States, yet the population of Montana is just over 1 million people, making it the 48th most densely populated state. Montana certainly fits that description perfectly. A state with fewer people, more open space, and a casual way of life, is the cure for today’s hectic lives. If you have been dreaming of a more relaxed way of life, away from the hustle and bustle of the big city, you’ve probably thought about moving to a place like Montana.
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