Montana Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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Steve Goldstein runs LLCBuddy, helping entrepreneurs set up their LLCs easily. He offers clear guides, articles, and FAQs to simplify the process. His team keeps everything accurate and current, focusing on state rules, registered agents, and compliance. Steve’s passion for helping businesses grow makes LLCBuddy a go-to resource for starting and managing an LLC.

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Montana Cost Of Living Statistics 2023: Facts about Cost Of Living in Montana reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on Montana Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Montana LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Montana Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Montana Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 9 Montana Cost Of Living Statistics on this page 🙂

Montana Cost Of Living “Latest” Statistics

  • In Montana, the primary causes of the index’s rise are the cost of homes, which is 23% more than the national median home price, and the cost of food, which is 8% higher.[1]
  • The entire cost of living in Montana might be 37% less than in California when taking into account taxes, housing costs, and transportation costs, among many other things.[1]
  • The bureau of economic analysis reports that Montana has a 67% lower cost of goods and services than the rest of the U.S. on average.[1]
  • Denver has around 85% higher cost of living than billings in terms of housing compared to Montana.[2]
  • The average monthly energy cost in Montana is about $97.84, which is much less than the national average of $121.01, according to statistics from the U.S Energy Information Administration (EIA) for 2017.[3]

Montana Cost Of Living “Be” Statistics

  • In Montana, renters should pay no more than $792 on total rental charges for the best level of living since the median income of renters is somewhat greater than that of owners.[2]
  • According to 2019 census statistics, Montana has just over 500000 housing units, thus your housing options may be relatively restricted.[4]

Montana Cost Of Living “Other” Statistics

  • According to the most current census bureau statistics, Bozeman is home to fewer than 50,000 people, which might be appealing for foreigners searching for a small community in which to reside.[4]
  • According to the U.S. Census Bureau, Montana has 6.8 persons per square mile as opposed to the U.S. average of 87.4.[3]

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How Useful is Montana Cost of Living

One of the most significant aspects of the cost of living in Montana is housing. The cost of renting or buying a home in the state can be quite high, especially in more desirable areas like Bozeman and Missoula. This can present a challenge for residents, particularly those on a fixed income or with lower-paying jobs. Additionally, housing costs can also impact the ability of young people to stay in the state, as they may find it difficult to afford a home of their own.

In addition to housing, other expenses in Montana can also add up quickly. Utility bills, groceries, and healthcare costs can all take a toll on residents’ wallets. For those living in rural areas, access to certain services and goods may be limited, leading to higher prices. This disparity can create financial strain for those living outside of larger cities.

However, while the cost of living in Montana can be high, it’s important to consider the overall quality of life in the state. Residents enjoy access to amazing outdoor opportunities, a strong sense of community, and a slower pace of life. These intangible benefits can outweigh the financial costs for many, as they prioritize the lifestyle that Montana offers.

Despite the challenges that the cost of living presents, there are also opportunities for improvement. By investing in affordable housing initiatives, increasing access to public transportation, and supporting local businesses, Montana can work to alleviate the burden of high costs on residents. Additionally, advocating for higher wages and better job opportunities can help to address the root causes of financial strain for many in the state.

Overall, the usefulness of the cost of living in Montana ultimately depends on one’s personal circumstances and priorities. While some may find the high costs to be a significant barrier, others may see them as a worthwhile trade-off for the quality of life that Montana offers. By examining both the challenges and benefits of the cost of living in the state, we can work towards creating a more affordable and sustainable future for all residents.

Reference

  1. californiamoversusa – https://californiamoversusa.com/resources/moving-to-montana/
  2. affiliatedsd – https://affiliatedsd.com/affiliated-mortgage-news/cost-of-living-billings-montana/
  3. smartasset – https://smartasset.com/mortgage/the-cost-of-living-in-montana
  4. sofi – https://www.sofi.com/cost-of-living-in-montana/

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