Idaho Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
Business Formation Expert
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.

All Posts by Steve Goldstein →
Business Formation Expert  |   Fact Checked by Editorial Staff
Last updated: 
LLCBuddy™ offers informative content for educational purposes only, not as a substitute for professional legal or tax advice. We may earn commissions if you use the services we recommend on this site.
At LLCBuddy, we don't just offer information; we provide a curated experience backed by extensive research and expertise. Led by Steve Goldstein, a seasoned expert in the LLC formation sector, our platform is built on years of hands-on experience and a deep understanding of the nuances involved in establishing and running an LLC. We've navigated the intricacies of the industry, sifted through the complexities, and packaged our knowledge into a comprehensive, user-friendly guide. Our commitment is to empower you with reliable, up-to-date, and actionable insights, ensuring you make informed decisions. With LLCBuddy, you're not just getting a tutorial; you're gaining a trustworthy partner for your entrepreneurial journey.

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

idaho

LLCBuddy editorial team did hours of research, collected all important statistics on Idaho 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 an Idaho 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 Idaho 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.

Please read the page carefully and don’t miss any words.

Top Idaho Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 11 Idaho Cost Of Living Statistics on this page 🙂

Idaho Cost Of Living “Latest” Statistics

  • According to the Composite Cost of Living Index published by the Missouri Economic Research and Information Center, Idaho has a cost of living that is 21% higher than the national average.[1]
  • According to the 2020 Bureau of Economic Analysis Personal Consumption Expenditures by State report, the average yearly cost of health care in Idaho is $6,169 per person.[2]
  • With a utility score of 82, Boise’s average service costs are 18% lower than the national average.[3]
  • Idaho’s cost of living is just 37% more expensive than Montana’s, therefore these two states’ cost of living levels out quite evenly.[4]
  • Idaho has the 25th lowest cost of living in the U.S., ranking it in the center of all 50 states and the district of columbia, according to MERIC data collected in the third quarter of 2021.[2]

Idaho Cost Of Living “Be” Statistics

  • Compared to the national average, food expenditures are 6% lower in idaho, and a recent survey found that residents spend just between $3,200 to $3,600 a year on groceries.[4]
  • In Idaho, incidentals like haircuts, clothing, and gym memberships are 5% cheaper than the national average.[4]

Idaho Cost Of Living “Living” Statistics

  • According to MIT, an individual living alone in idaho must earn at least $29,007 in order to cover all of their expenses.[4]

Idaho Cost Of Living “Other” Statistics

  • Residents pay a state income tax rate ranging from 1.125% to 6.925%, according to the Tax Foundation’s State Individual Income Tax Rates and Brackets for 2021.[2]
  • Boises healthcare expense index is 1% more than the national average when all factors are taken into account.[3]
  • In comparison to all other cities in the state and all but a handful of other communities worldwide, Boise’s overall employment increased by 19.9% over the course of the previous five years, according to their research.[3]

Also Read

How Useful is Idaho Cost of Living

One of the key aspects of the cost of living in Idaho is housing. Finding suitable and affordable housing in Idaho can be challenging, especially in cities with high demand due to economic growth and job opportunities. The cost of rent and mortgage payments can vary significantly depending on the location and size of the property. For many Idahoans, finding affordable housing that meets their needs can be a top priority when considering their overall cost of living.

In addition to housing, other expenses, such as transportation, food, healthcare, and utilities, also contribute to the overall cost of living in Idaho. Transportation costs can include factors such as fuel, vehicle maintenance, insurance, and public transportation expenses. The availability and affordability of public transportation options can play a significant role in determining the overall cost of transportation for individuals and families.

The cost of food can also vary depending on factors such as grocery prices, dining out expenses, and access to affordable fresh produce and other healthy food options. Healthcare costs, including insurance premiums, co-pays, and prescription medications, can also be significant factors influencing the overall cost of living in Idaho. Access to quality healthcare services at affordable prices is essential for individuals and families to maintain their overall health and well-being.

Utilities, such as electricity, water, gas, and internet services, are other essential expenses that can impact the overall cost of living in Idaho. Finding affordable and reliable utility services is crucial for maintaining a comfortable and functional living environment for residents of the state.

Overall, the cost of living in Idaho can have a significant impact on the quality of life for individuals and families. Understanding the various expenses associated with living in the state can help residents make informed decisions about their finances and plan for their future. By considering factors such as housing, transportation, food, healthcare, and utilities, individuals can better manage their expenses and ensure that they are able to meet their basic needs while enjoying a comfortable standard of living.

In conclusion, the cost of living in Idaho is a crucial consideration for residents of the state. By understanding the various expenses associated with living in Idaho, individuals and families can make informed choices about their finances and plan for their future. Taking into account factors such as housing, transportation, food, healthcare, and utilities can help individuals manage their expenses and maintain a comfortable standard of living in Idaho.

Reference

  1. bigcountrynewsconnection – https://www.bigcountrynewsconnection.com/idaho/how-the-cost-of-living-in-idaho-and-washington-compares-to-the-nation/article_ae3fdcb4-919c-11ec-94d8-db2280b66e62.html
  2. sofi – https://www.sofi.com/cost-of-living-in-idaho/
  3. weknowboise – https://www.weknowboise.com/blog/cost-of-living-in-boise-id.html
  4. upnest – https://www.upnest.com/1/post/cost-of-living-idaho/

Leave a Comment