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The statewide average rent is $1,271, but, like Wyoming, prices vary based on the city you live in in the state. Winter can bring freezing temperatures as early as October in some years when you live up near the border with Canada. The only real divide is between the people who decide to participate in these activities, and those who do not. Despite its large amount of land mass, Montana's 1 million residents make the state one of the country's smallest by population. There is plenty of things to do in Wyoming, and wildlife tours and horseback riding are among the most popular. Sales taxes in Wyoming are the third-lowest in the country, besides the 5 states that have none. . The city's median home value is $215,500. Wyoming is the best state to retire in, according to a list from Bankrate. Cost of Living in Virginia (Taxes, Housing & More), Cost of Living in Vermont (Taxes, Housing & More), Cost Of Living In Idaho (Taxes, Housing & More), $5,581 (Residents) $18,151 (Non-Residents), $4,170 (Residents) $10,110 (Non-Residents). Photo by John Kakuk/Unsplash. Helena's median household salary is $49,445. Cost of Living Calculator - Compare City Costs and Salaries - MoneyGeek.com The average amount that a single family with two adults and one child spends on food per year is $8,639. Montana. Montana is number 13 when considering corporate taxes. As the population increases here, so do the real estate prices, which have appreciated by 33% between 2005 and 2015. The group ranked all 50 states based on weather, cost of living, crime, quality of health care, state and . Wyoming is a great state for retirement, especially if you're looking to pull off an early retirement. Housing is one of the largest components of cost of living. 11. If you are in the middle of a road trip, then driving through Montana can seem like it takes forever. Helena, Billings and Butte are just three of the state's popular cities. There are some places where housing is exceptionally affordable, with Blaine County seeing an average selling price of just $59,500. Montana vs Wyoming to Live [Expert-Advice] - StateGuy October 22, 2014, 3:27 AM. July is the hottest that it gets in Wyoming, and temperatures can soar to 95 degrees Fahrenheit in some areas. The majority of violent crimes in Wyoming are physical assaults, and most of the property crimes are thefts and burglaries. Wyoming has a rich history, and its background earned the state its nickname, the Equality State. Being a Los Angeles resident, Jessica spends a lot of her time looking for her next DIY project and sharing her love for home design. Regardless, even with the higher median home prices, it is still cheaper to purchase a home in Wyoming than Colorado. The states average rent prices range from $690 for a two-bedroom residence to $1,160 for four bedrooms. Average Cost Of Living In Saratoga Spring, Yearly Cost Of Living In Venezuela Overall, States With The Cheapest Cost Of Living Us, Terms and conditions People who make their home in Billings will see a median home value of $280,200. When you consider the fact that the median home price in Wyoming is around $273,000, it is more affordable to purchase a home here than in the state of Colorado. 9. Montana versus Wyoming: A Wild West Smackdown Due to high housing costs in Jackson, Wyoming, the homeownership rate is only 37.1%. 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. If you prefer archery hunts to rifle hunts, these can be more challenging and more expensive. Private school is not exorbitant in Wyoming and costs an average of $8,689 per year. At the same time, it is easy to see how Montana could be mistaken as a place for farming, ranching, and a rural lifestyle without any urban development. Montana is the state which is known for its natural beauty. Montana Vs. Wyoming: Which State Deserves Your Attention - TheTravel Regional Guide - The Northwest Cost of Living Breakdown - Allied South Dakota ranks 28th in cost of living about in the middle of the pack. Groceries, meanwhile, cost 9.8% less, and miscellaneous costs are 7% lower. Montana cost of living is 94.0. 10 Pros and Cons of Living in Wyoming Right Now A salary of $39,500 in Billings, Montana should increase to $42,122 in Cheyenne, Wyoming (assumptions include Homeowner, . However, Missoula still has a 5% lower cost of living than the national average. The average private school tuition in Wyoming is, link to How To Organize A Bathroom Closet. Wildlife shares the wide-open spaces with you when your home is in Montana. It isnt the lowest cost in the country, but it is pretty close to it. Aside from median housing prices, let's take a deeper look at how the cost of living compares in Wyoming vs. Colorado. However, life in Wyoming can be a bit jarring. . The average salary index in Montana is $48,427 per year, roughly $23.28 per hour. Cost of Living in Wyoming - 24/7 Wall St. Groceries and prescription drugs come with no sales tax in Wyoming, and that is a lifesaver. Montana vs Colorado - Which State Is Better? You really cant wear something that is fancy and formal when going out to the truck means mucking through mud and who-knows-what else. Wyoming cost of living is 98.1. The. The cost of living in Wyoming is significantly higher. There are also several private school options in Wyoming. Smaller island ranges are found throughout the state. Related Guide:What Is The Cost of Living In Wyoming vs. Colorado? Butte During the last year, the city has seen its homes depreciate by around 0.7 percent. One of the best ways is to take advantage of this benefit is the take an early retirement here, and then take classes at the university by using the Lifelong Education Status that is available at Montana State. Pocatello's average rental price is $650. While the costs of health insurance coverage in Wyoming are lower, the frequency of doctor visits is higher. Conclusion Wyoming is also known as the paradise of the western US. Phillips County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Montana as a whole. Everyday items like food and clothing, as well as some large purchases like appliances and vehicles, will be more affordable in Montana. 16 Pros and Cons of Living in Miami, Florida, 21 Pros and Cons of Living in New Zealand, 18 Major Advantages and Disadvantages of the Payback Period, 20 Advantages and Disadvantages of Leasing a Car, 19 Advantages and Disadvantages of Debt Financing, 24 Key Advantages and Disadvantages of a C Corporation, 16 Biggest Advantages and Disadvantages of Mediation, 18 Advantages and Disadvantages of a Gated Community, 17 Big Advantages and Disadvantages of Focus Groups, 17 Key Advantages and Disadvantages of Corporate Bonds, 19 Major Advantages and Disadvantages of Annuities, 17 Biggest Advantages and Disadvantages of Advertising. As a Montana resident, you'll pay more for food and health care. If you bring up a political conversation, then expect to get some pushback if there is someone around who holds a different opinion. Lets take a look at median home prices and the percentage of homes in that range. Sales taxes are never higher than 6% in Wyoming, 61 out of 99 municipalities within the state. It could be a disadvantage if someone keeps eating your garden, but it can also be one of the best experiences of your life. The average salary after taxes in Wyoming is $3456, which is enough to cover living expenses for 2 months. Let's take a quick look at the cost-of-living breakdown in Montana. The median home price in Montana is $232,100. Even internet bills are low in Jackson, Wyoming, and often cost between $40 and $60 per month. If you own a home in your former location the sale of that home needs to be completed as well. Montana's income tax system is progressive, with marginal income tax rates that range from 1.00% to 6.75%. The average cost of a property in the state is just $99,500, but there are some places where you cant find a place for less than $600,000 as well. You will want to ensure that you obtain all of the correct licenses before you head out into the open spaces, and then remember to store your firearms correctly when driving. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. If youre over the age of 65, however, you can qualify for exemptions if the house is your principal property. GDP $ 40 Billion College Educated 40.4% Population 578,759 Capital Cheyenne Median Income $ 33,296 Traders and trappers began to explore the land that now. Roughly $1,000 of the ownership costs go straight to mortgage payments, and the rest is spent on bills and repairs. It comes in at number 44. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. 5. Median selected monthly owner costs -with a mortgage, 2014-2018: $1,428: $1,386: . Sponsors are acknowledged. Everyday items like food and clothing, as well as some large purchases like appliances and vehicles, will be more affordable in Montana. In all, 77 named ranges are part of the Rocky Mountains. Wyoming residents spend an average of $843 per month of rent, and the median home value is $140,200. Utility bills are a factor in the cost of living whether you are a renter or a homeowner. If you decide to purchase a house in Montana, then you will want to learn how to live with the wildlife. The cost of car insurance is generally 6% less than the national average. Winter sports in Montana are always world-class. Coeur d'Alene's median home price is $491,000. In Spokane, the median home price is $185,500. With its abundant outdoor recreation, low crime rate, level of authenticity, and numerous tax benefits, many view Wyoming as a more advantageous place to live than Colorado. Across the state, the . In Montana, a regular house costs $219,600 as compared to the national median home value of $204, 900. If your desire to live in the state involves ranching, farming, or the cowboy lifestyle, then you are going to have plenty of opportunities to pursue your dream. 1516 Golden Blvd Bed 4 Bath 3 2336SqFt I could not care less about the top 10, but the real gem in this study is how Wyoming compares to our neighbors in Colorado and Montana.