Montana Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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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 aspects of Montana’s cost of living that many may find appealing is its affordable housing market. Compared to many other states, Montana offers a range of housing options at reasonable prices, making it an attractive option for families, retirees, and individuals looking to settle down. The ability to find a comfortable and affordable home is a significant factor in determining the overall quality of life for residents, and Montana’s cost of living certainly plays a role in making this possible.

Another aspect of Montana’s cost of living that is worth mentioning is the relatively low tax burden on its residents. With no sales tax and relatively low property taxes, individuals and families in Montana are able to keep more of their hard-earned money. This can lead to a higher standard of living, as residents have more disposable income to spend on necessities, savings, or leisure activities. The lower tax burden in Montana is likely a big draw for individuals looking to relocate to the state and could contribute to its overall appeal.

On the other hand, the cost of living in Montana also comes with its challenges. While housing may be more affordable compared to other states, other expenses such as healthcare and groceries can be higher than average. For individuals and families on fixed incomes or with limited earning potential, these higher costs can make it difficult to make ends meet. Additionally, job opportunities in Montana may not be as plentiful or as lucrative as in other states, leading to financial strain for some residents.

Another important consideration when examining the usefulness of Montana’s cost of living is the overall quality of life that the state provides. While affordability is important, it’s also essential to consider other factors such as access to healthcare, education, and recreational opportunities. Montana’s cost of living may be advantageous in some areas but lacking in others, leading to a trade-off for residents who must weigh the benefits of affordability against potential drawbacks in other areas.

In conclusion, Montana’s cost of living can be a double-edged sword for its residents. While the state offers affordable housing and a relatively low tax burden, other expenses and limited job opportunities may present challenges for some individuals and families. Ultimately, the usefulness of Montana’s cost of living will vary depending on an individual’s circumstances and priorities. When considering a move to Montana or evaluating the state’s cost of living, it’s essential to weigh the pros and cons carefully to determine what is best for oneself and one’s family.

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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