How Much Is Rent In Montana?

Out of the other 55 states and territories in the country, Montana (MT) has the 34th highest rent in the country. In the state of Montana, the ″Fair Market Rent″ for a two-bedroom apartment can be anywhere from $734 in Blaine County to $1,100 in Gallatin County. In Blaine County, the ″Fair Market Rent″ is $734.

How much does it cost to rent an apartment in Montana?

  1. Apartments with one bedroom cost $618, and apartments with two bedrooms cost $785; all of these prices are $333 and $395 less than the median cost of an apartment in the United States, respectively.
  2. The cost of rent may be somewhat more expensive in certain of Montana’s larger cities.
  3. The typical rent for a studio apartment in Missoula is $687, while the median rent for a one bedroom is $742 and the median rent for a two bedroom is $918.

What is the cost of living in Montana?

  1. Expenses Related to Daily Life in Montana Our cost of living indexes are calculated using an average for the United States of 100.
  2. If the number is less than 100, it indicates that the cost of living in Montana is lower than the national average.
  3. If the Expense of Living Index for a city is greater than 100, it indicates that the cost of living in that city is higher.
  4. The cost of living index in Montana is 94.0.

What is the average property tax rate in Montana?

  1. When it comes to taxes on property, the average effective property taxrate in Montana is just 0.85 percent, which is far lower than the average property taxrate throughout the US of 1.19 percent.
  2. The lowest rate is found in Fallon County at 0.47 percent, and the highest rate is found in Blaine County at 1.56 percent.
  3. Since the beginning of 2005, the state of Montana has not imposed an inheritance or estate tax.
  4. Education

Should you rent or buy a home in Montana?

  1. In certain cases, purchasing a property in Montana may be more expensive than renting the same size home.
  2. Renting typically requires a smaller initial financial investment, and the cost of routine maintenance is typically covered by the landlord.
  3. Since you won’t have to worry about these costs or responsibilities, you’ll have more money available for other uses, and your overall cost of living may go down.
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Is it expensive to rent in Montana?

Even though homeowners make about two-thirds of Montana’s population, the state’s rental market has some attractively priced options. According to a survey that was published by Apartment List in 2019, the typical rent for a studio apartment in the state is $554. This brings the total below the national average by $277.

Is it expensive to live in Montana?

The annual cost of living averages out to 42,310 dollars in Montana. When it comes to the overall cost of living, the figures collected by MERIC during the third quarter of 2021 place Montana in the thirty-first position. This indicates that the cost of living in Montana is higher than it is in the majority of the country.

How much do you need to make to live in Montana?

The minimum wage required for an individual adult in Montana is $16.32 per hour, which is referred to as the living wage. This rate is necessary to pay for essentials such as housing, food, and other requirements. The state of Montana has a wage index that averages out to $48,427 per year, or around $23.28 per hour.

What is the average housing cost in Montana?

  1. According to the data provided by the United States Census Bureau, the median cost of a house in Montana was $230,000 in 2019 dollars.
  2. The estimated monthly cost of the median rent was 810 dollars.
  3. The expenses of housing and rent are significantly lower when compared to those in other parts of the United States.
  4. On the other hand, the cost of housing in Montana is significantly greater than the national average.

What state has the lowest cost of living?

Mississippi. The state of Mississippi boasts the nation’s cheapest cost of living, according to a recent study. Compared to the national average, the cost of living index in this area is 83.3, which indicates that overall costs are roughly 17 percent lower. The cost of housing in Mississippi is the lowest it is anywhere in the country.

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Where is it affordable to live in Montana?

Colstrip and Wolf Point are the two locations in Montana that provide the most affordable housing options. These are only two of the eight communities in the state of Montana that have affordable housing, fuel, and grocery store items.

How much are groceries in Montana?

Prices of Food in Montana According to information provided by the United States Department of Agriculture (USDA), the price of food varies significantly throughout the states. In the state of Montana, the yearly food costs for a single adult are estimated to be $3,178, while the annual costs for a family of four are estimated to be $9,179.

Are groceries expensive in Montana?

Additionally, the cost of food is rather high in Montana. The average amount spent on groceries in that location is 4.6% more than the average throughout the country.

Is it cheaper to live in Texas or Montana?

The cost of living in Texas is 3.8 percent lower than in Montana.

Is there a lot of work in Montana?

  1. The percentage of residents in Montana who are actively looking for work is above average.
  2. In Bozeman, Billings, Missoula, and Helena, employment rates for people in their prime working years are close to 80 percent.
  3. Every one of these micro- and metro-areas is ranked in the top ten percent of those categories.
  4. As a consequence of this, Montana’s capacity to increase the size of its workforce through increased participation is constrained.

What are the main jobs in Montana?

  1. Which Professions Have the Highest Demand in the State of Montana? Occupations related to office work and administrative support, which accounted for 67,620 jobs
  2. Jobs Related to Sales and Other Professions 49,960 people have jobs
  3. Related Occupation to Food Preparation and Serving There Are 46,030 Jobs Available
  4. There are 29,340 people engaged in healthcare practitioner and technical occupations
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Is it cheaper to live in Montana or Colorado?

Not only this, but Montana also has lower net taxes, thanks to the absence of a state sales tax, which affects everything you buy, including cars, houses, and food, as well as because the general cost of living is 19 percent cheaper compared to Colorado, and housing costs are 40 percent lower than in Colorado. These factors combined result in Montana having lower taxes overall.

Where is the cheapest place to live?

  1. According to the Cost of Living study compiled by the Council for Community and Economic Research, the following are the top 10 most affordable cities in which to make your home in the United States. The city of Cedar Park in Texas
  2. Midland, Texas
  3. [and]
  4. Ogden, Utah
  5. City and County of Raleigh, North Carolina
  6. Provo, Utah
  7. The city of Des Moines, Iowa
  8. Capital of Texas, Austin
  9. Minneapolis, Minnesota

Is it cheaper to live in Montana than California?

  1. Index of the cost of living in Montana When compared with Montana, the typical property price in California might be an astounding 135 percent more than what it is in Montana.
  2. When compared to the cost of living in California, the entire cost of living in Montana may be as much as 37 percent less expensive.
  3. This is due to the lower cost of living in Montana, as well as lower taxes, housing, and transportation costs.

Is Montana a good state to live in?

  1. Great Places to Raise a Family Can Be Found Throughout Montana.
  2. Although it is not one of the most populated states, Montana is home to not one but two cities that have made it into Livability’s list of the Top 100 Best Places to Live in 2018.
  3. Bozeman, which is home to Montana State University, is listed as the 96th best college town in the country, while Missoula, which is home to the University of Montana, is ranked as the 59th best college town in the country.

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