Understand the cost of living in Montana including housing, taxes, insurance, and everyday expenses. Compare Montana costs to the national average.
Montana has a cost of living index of 97, where 100 represents the national average. This means living in Montana is 97 percent of the national average cost. The median household income in Montana is $62,000, which should be weighed against local expenses.
Housing is typically the largest expense for Montana residents. The median home price is $380,000, with property taxes averaging 0.74% and home insurance at $1,800 per year. Renters also face costs influenced by the state's overall cost of living index of 97.
Montana residents pay a top income tax rate of 5.9%, a sales tax of 0%, and property taxes of 0.74%. These tax rates play a major role in the overall cost of living and your household budget.
Auto insurance in Montana averages $1,520 per year, which is a significant ongoing expense. Combined with fuel, maintenance, and commuting costs, transportation can account for a notable portion of the Montana household budget.
With a cost of living index of 97, Montana ranks among states that are 97 percent of the national average. The median income of $62,000 and median home price of $380,000 provide useful benchmarks for comparison. Use CalcHubb's cost of living calculator to compare Montana with any other state.
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