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

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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 main factors that contribute to the cost of living in Montana is housing. While Montana is known for its spacious and affordable homes in rural areas, cities like Bozeman and Missoula have seen a significant increase in housing costs in recent years, making it difficult for many residents to afford to live in these areas. Additionally, rental prices in popular tourist destinations such as Whitefish and Big Sky can be significantly higher than the national average, putting a strain on residents looking for affordable housing options.

Another aspect of the cost of living in Montana is the prices of goods and services. While the state does not have a sales tax, many residents find that the prices of groceries, utilities, and healthcare are higher compared to other states. This can be especially challenging for low-income families who may struggle to afford basic necessities.

Transportation is another factor to consider when discussing the cost of living in Montana. With large rural areas and long distances between towns, owning a car is often a necessity for residents. However, gas prices in Montana tend to be higher than the national average, making it more expensive for residents to commute to work or travel around the state.

Despite the challenges associated with the cost of living in Montana, many residents find the benefits of living in the state to outweigh the costs. The beautiful scenery, abundance of outdoor activities, and tight-knit communities make Montana a desirable place to call home for many people. Additionally, the state’s lower crime rates, quality education system, and overall high quality of life contribute to its attractiveness as a place to live.

Ultimately, the usefulness of the Montana cost of living can vary depending on individual circumstances. For some residents, the higher costs may be worth it for the lifestyle and natural beauty that the state has to offer. For others, the affordability of housing, groceries, and utilities may be a deciding factor in whether they choose to make Montana their home.

Overall, the cost of living in Montana is a complex issue that impacts residents in a variety of ways. While the state offers many benefits, it also presents challenges in terms of affordability. Understanding the cost of living in Montana is important for both current residents and those considering a move to the state, as it can help individuals make informed decisions about their financial well-being and quality of life.

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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