Or Call 8006898684 to start your free quote! The cost of living in Wyoming is below the national average due to low housing, utility, and grocery costs. The state of Wyomings sales tax is tied for the second-lowest rate of any state that has a sales tax, at just 4%. The delegates of the state typically vote Republican, but it is not unusual to have a Democrat representing Montana in the senate either. She grew up surrounded by constant home improvement projects and owes most of what she knows to helping her dad renovate her childhood home. Check out these top leading cities demographics down below. Net taxes for living in Montana are lower, largely because of the lack of state sales tax, which impacts everything you do, buying a car, buying a house, buying food, etc, but also because overall cost of living is 19% lower and total cost of living is 19% lower, housing prices are 40% lower, commutes are much shorter and less traffic laden, etc. Even if someone doesnt know who you are, there is usually a friendly way of waiting for you when you pass on the road. 3. Unless you decide to live in Helena and never want to leave, then you can forget about the idea of living in Montana without owning a vehicle. 1516 Golden Blvd Bed 4 Bath 3 2336SqFt That puts your housing costs at a much lower rate compared to what you will experience across the rest of the country. Rent prices range from $1,070 for a two-bedroom space to $1,890 for an apartment or home with four bedrooms. The median income in Wyoming is $61,584, so your food budget should be about $6,800 per year. Besides the down payment, which is usually 15-20% of the selling price, there will be closing costs. 1. The assumption is the sole provider is working full-time (2080 hours per year). Sitemap, Copyright Working Holiday Pty Ltd ABN 24 615 642 825. People who call the state their home pay around $230,700 for a residence and pay an average $840 a month on rent. Montana vs. Wyoming The Cost of Living will break down everything you need to know if you are thinking about moving to Montana or Wyoming. Exemptions for property taxes in Wyoming are not extremely high, and the average resident only saves $278 per year. Wyoming is a paradise for those who love the outdoors. In Denver alone, the amount of money thats bid over the asking price is also at a record-high. The city's household income averages $41,980. If you are the type of person who enjoys staying informed on the latest trends and experimenting with them, then living in Montana is going to require a significant adjustment. You may spend up to $1,462 per year on gasoline in Worland if you use an average of 656 gallons per year. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. Limited effects of urbanization. The real-estate market of Wyoming is quite reasonable, As the median cost of houses in Wyoming is $292,509 which is quite less than the median price of houses in the US, i.e., $316,368. When you live here, then these wide-open spaces become a place where you can settle down and embrace nature in a way that is ideal to you. That is somewhat high, but the low $0.23 per gallon gasoline tax makes up for the price of the gas itself. Wyoming offers reasonable prices on homes, and they appreciate very quickly. You will see plenty of staged shots in movies and television because of how the mountains, valleys, and glaciers to come together in a spectacular combination. The people of Montana are warm and friendly. While it may be an excellent time to be a seller in both Wyoming and Colorado, both markets are very competitive for buyers and home prices are higher than ideal. US Census Bureau Home Page; US Bureau of Economic Analysis; US Bureau of Labor Statistics. There is a very real attitude here of encouraging the community to lift everyone up so that each household receives the same chances to succeed. The median home price and median income also determine the most costly places to live. In the rural areas of Montana, it is not our usual to run into issues like a power outage after a storm that can leave the lights off for several days at a time. Coeur d'Alene households earn $41,065 on average. For a rental, you'll pay $920 for a two-bedroom home and $1,630 for a four-bedroom residence. These median figures can vary substantially throughout the region. It isn't as desolate, but the highway can be pretty empty at times. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. Even if you can find a great job in one of the cities, 4 out of 5 people will commute to work from a rural home because they cant afford a property within the community. . The only real divide is between the people who decide to participate in these activities, and those who do not. With the state being such a desirable state for transplants, many people have also been moving to Colorado. If you are used to the atmosphere from the Northeast or the Pacific Northwest where people sometimes stick to their comfort zone, you might find that this is a unique change of pace. Housing costs are lower in Worland than in Washakie County, where the median home value is $165,500. Its predicted that home prices will continue to rise and the market wont start to slow down until the interest rates go up. Hunting is also an activity that locals and tourists enjoy. Tacoma 4. Coeur d'Alene 9. So, if you like your space, and love exploring in the natural wilderness, Montana could be the perfect state for you. The low housing costs and relative infrequency of crime in the state make Wyoming ideal for retired residents. The state also works hard to manage the deer population, which is why hunting is just part of the way of life here. Coeur d'Alene's median home price is $491,000. In the city, the median home price is $172,000. When it comes to this area of the United States, one of the first things that comes to mind is its unique and beautifully diverse landscape. Knowing these amounts and what to expect can make a world of difference, especially for those considering a move to the region. This way of life includes tons of outdoor recreational opportunities and a conservative state government. There are currently more than 50 licensed breweries operating here, employing over 500 workers and making an economic impact of more than $60 million each year. The median price of a home in Wyoming is $272,700, which is about 6.5% less than the national average of 291,700. Wild West Smackdown: Montana Versus Wyoming. Some links in the description are affiliate links, if you click on one of the product links, Ill receive a commission at no additional cost to you. 10. But the fact that the city has no sales tax and low transportation and utility costs helps make up for it. Phillips County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Montana as a whole. While Wyoming is home to Yellowstone National Park (home to over half of the world's geysers and America's premier biodiversity hotspot), Montana is home to the snowcapped rugged peaks of Glacier National Park. The group ranked all 50 states based on weather, cost of living, crime, quality of health care, state and . Montana Housing Costs. Housing costs, defined as a blend of the average rent and average mortgage payment, are . 5. link to What Kind Of Paint For Garage Walls? The average total personal consumption cost in Montana is $42,310 annually and breaks down to: In terms of monthly expenses, that's $3,525, on average. This could be why Wyoming ranks first in the nation for high school education attainment, 92% of residents. The Lewis and Clark Expedition of 1804-1806 would mark the first time that European explorers would set foot in the land that would eventually be called Montana. Casper is the most expensive place to live in. Some links in the description are affiliate links, if you click on one of the product links, Ill receive a commission at no additional cost to you. Hunting and fishing are significant components of tourism. You will find links to both official statistics and people's impressions. Many of the political divides that we experience in the United States are evident when you start living in Montana. 4. Butte Portland The federal minimum wage is $7.25 per hour while Montana's state law sets the minimum wage rate at $9.95 per hour in 2023. If you are an Idaho resident, you'll pay less for groceries, utilities and transportation. You can get a decent education when you live in Montana. There are also several private school options in Wyoming. This rate is the 10th lowest in the country and Wyoming homeowners pay an average of $1,352 in property taxes annually. As an Amazon Associate, I earn a small commission from qualifying purchases.Phone: 406-249-1735Email: teammontanalife@gmail.comCheck out our website at https://montanaliferealty.comFollow Us on:Facebook: https://www.facebook.com/montanaliferealty/Instagram: https://www.instagram.com/montanaliferealtyteam/Pinterest: https://www.pinterest.com/montanalifereal/Twitter: https://twitter.com/WillMontanaLinkedIn: https://www.linkedin.com/in/willfriedner/Please Check out our Montana Real Estate Podcast : https://podcasts.apple.com/us/podcast/montana-real-estate/id1357159769#MontanaRealEstate #MontanavsWyoming #MontanaCostofLiving Average utility costs are determined based on basic utilities such as electric, gas, and water bills. In Wyoming, renting can sometimes be more economical than buying a home. During the last year, home appreciation has grown in the city by about 12 percent. The rent in . Most people in Montana will let you go about your business without complaint. With cities like Seattle, Spokane and Tacoma, the state is one of the country's most popular places to live. An amount below 100 means Montana is cheaper than the US average. On the flip side, Montana's severance taxes on mineral production are higher than Wyoming's, particularly when it comes to surface coal mining. Wyoming has 62 school districts, 363 schools, and 94,578 students enrolled. Knowing your state, city, and county tax rates can help you figure out and stick to a feasible living budget. The pros and cons of living in Montana show us that this option is not for everyone. With that said, the table below displays a more detailed look at the average monthly rent in some of the major cities across Wyoming: Dissimilarly, between 2019 and 2020, Colorado was among the 39 states across the country that experienced an increase in rental prices for one-bedroom apartments. What Is The Cost of Living In Wyoming vs. Colorado? A cost of living index above 100 means Montana, Montana is more expensive. Utilities are more costly for homeowners, and they can cost as much as $415 per month for family homes. There are opportunities for hiking, skiing, snowboarding, hunting, and more.