Knowing your state, city, and county tax rates can help you figure out and stick to a feasible living budget. In Montana, a regular house costs $219,600 as compared to the national median home value of $204, 900. Coeur d'Alene Dec 14, 2020 Wyoming is a paradise for those who love the outdoors. We are basically tied with North Dakota and Montana. In the past, Wyoming was at the forefront of equality, and thats one of many great things it can boast. Just as diverse as their landscape, however, is its cost of living. A cost of living index above 100 means Montana, Montana is more expensive. Coeur d'Alene's median home price is $491,000. Boise A small park of Yellowstone is also in Montana. Whereas, in Colorado, youll find that most cities have median home prices significantly above the national average. - Compare Cities cost of living across 9 different categories - Personal salary calculations can optionally include Home ownership or rental, Child care, . Montana requires you to be self-sufficient. This eliminates the responsibility and expense of owning a house and can leave you with more disposable income. The average private school tuition in Wyoming is approximately $8,689 per year. Picturesque cities like Portland, Salem and Astoria tend to encourage people to move to Oregon. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. Alcohol sales are not subject to anything except for the 4%-6% sales tax rate throughout the state. As the population increases here, so do the real estate prices, which have appreciated by 33% between 2005 and 2015. Citizens who live in Tacoma pay $237,200 for a home on average. By the 1860s, gold fever had struck the region, with prospectors quickly coming into the area to find their fortune. You will find a lot of positives to consider when living in Wyoming, but these advantages come at a steep price. 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. 3. In fact, politics is one of the main reasons why so many people are moving to Wyoming. The people of Montana are warm and friendly. The states average effective property tax rate is a mere 0.49% and some areas have rates that are even lower. On our website, we have collected a lot of different data on the cost of living. View future changes in the minimum wage in your location by visiting. You can expect to pay $635 to rent a two-bedroom residence. If you're looking for high cost of living, high cost of housing, extremely low income when compared to the national average, poor access to medical care, a complete absence of decent restaurants, ever-decreasing hunting opportunities, a half year long winter and tweakers all over the place looking to steal your shit then come on up. With Wyomings statewide average rent of just $855 per month, the state is one of the most affordable places for renters. Both Wyoming and Montana can get lists of snow and be bitterly cold because they're at high altitude. If your home is worth more than $237,000, then you cannot qualify for any exemptions at all. There are some people who see the state of Montana as a rugged wonderland that is filled with many outdoor adventures that are available throughout the year. For example, the sales tax rate in San Juan County is 9.4% but the rate in Boulder County is just 5%. Everything here is about being as practical as possible. There is a total of 1,320 schools to choose from for parents in Wyoming. The statewide average rent is $1,271, but, like Wyoming, prices vary based on the city you live in in the state. Utilities are more costly for homeowners, and they can cost as much as $415 per month for family homes. The following table features a more comprehensive look at the average monthly rental prices you can expect in some of Colorados cities: There are some noteworthy differences between the taxes in Wyoming versus the taxes in Colorado, outlined in detail below. It is a very different lifestyle than what you will find along the East or West Coast. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. It comes in at number 44. Montana Housing Costs. It is not unusual to hear a knock on your door when someone needs a helping hand out in the fields or has a problem to solve with their vehicle. Cost of living is used to determine how expensive one place is versus another. Average property tax payments vary widely based on both median home values and property tax rates in the county. If you are thinking about moving to Montana or Wyoming, this will help with your choice of states.If you would like information about homes and land for sale in Whitefish, Montana, Please contact us at any time!Equipment used to produce videos: Sony ZV-1 Digital Camera https://amzn.to/3yDhSYSCanon EOS M50 https://amzn.to/3EBEdtzDJI Mini 3 Pro Drone https://amzn.to/3VnKYoFDJI Osmo Action 3 https://amzn.to/3yDe9ubDJI Mic - Wireless Microphone System https://amzn.to/3Cw4xT9Amazon 60-Inch Lightweight Tripod https://amzn.to/3RXRD6cApple iPhone 12 Pro https://amzn.to/3EGkWaqDisclosures: All opinions are my own. Median listing home price: $899,900. Census data reports that the median value of a home in Wyoming is $220,500. 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. There are over 28,000 farms and ranches currently operational. Being a largely rural state, Wyoming usually has a housing supply that is on the low end. 5. The majority of violent crimes in Wyoming are physical assaults, and most of the property crimes are thefts and burglaries. There are only 1.07 million people living there being the 4th largest state by area. The median home price in Boise is $298,000. There is no state income tax in Wyoming, and the other tax rates are low compared to other states in America. Not to mention, living in Wyoming comes along with the lowest tax rates in the United States, so your money goes further. If you prefer archery hunts to rifle hunts, these can be more challenging and more expensive. As for individual income tax Montana is 21 and Wyoming again takes the top spot. However, Missoula still has a 5% lower cost of living than the national average. Looks like this move could have a negative net change in disposable income. Over the course of the last year, a lot of people have flocked into the state from bigger cities to enjoy the Wyoming way of life. It's a big state with a small population, with just 1.69 million people call Montana home. With the state being such a desirable state for transplants, many people have also been moving to Colorado. The poverty wage for the same family is at $6.30, while the minimum wage is $7.25. Montana is cheaper than Wyoming, with a cost of living index of 96.5 compared to Wyoming's index of 108.3. Jessica considers herself a home improvement and design enthusiast. The most significant difference occurs between the urban and rural voters here. In Astoria, the median home value is $220,200. 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. Colorado's tax relief for retirees pales in comparison to what Wyoming offers. Rock Springs 4. Check it out. It isnt the lowest cost in the country, but it is pretty close to it. Read more from, If you want to buy a home in the beautiful state of Montana, you will find that it is one of the highest residential home markets in the country. Groceries and prescription drugs come with no sales tax in Wyoming, and that is a lifesaver. There are also several prestigious colleges in Wyoming, such as the University of Wyoming and Sheridan College. 8 Reasons to Move to Wyoming More than just stunning viewsthe cost of living, the jobs, the numerous ways to get outside and be healthy all make Wyoming a great place to live. On the flip side, Montana's severance taxes on mineral production are higher than Wyoming's, particularly when it comes to surface coal mining. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. The assumption is the sole provider is working full-time (2080 hours per year). DOT No.076235Texas intrastate moves are hauled under the authority of Allied Van Lines, Inc., TxDMV No. It would not take long after this expedition for fur trainers to begin setting up shop in the region, creating a thriving economy for them, but disease and decimation to the native populations. The Brawl of the Wild. Median home prices are ultimately based on the specific city and county that you live in in a particular state, and this is certainly true for both Wyoming and Colorado. Meanwhile, the median home price in Colorado is $488,600 a staggering 79% higher than Wyoming. Sitemap, Copyright Working Holiday Pty Ltd ABN 24 615 642 825. In fact, there are just 6.8 people per square mile here, compared with the national average of 87.4. 7143; Texas DMV Phone No. The cost of car insurance is generally 6% less than the national average. Like Wyoming, Colorado is experiencing a supply and demand imbalance. In the category of groceries, Oregon residents pay a little less. Many residents are working outside as part of their employment as well, whether they are farmers, ranchers, or oil industry professionals. The living wage in Montana is $16.32 per hour, which is the basic wage needed to pay for essentials such as housing, food, and necessities for an individual adult. The average household salary totals $48,000. Many of the political divides that we experience in the United States are evident when you start living in Montana. Here are two important questions and the numbers to you will need to answer those questions: How much more or less will it cost to live in the new city? The Missoula metro area is the most expensive area in Montana. 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. Bathroom closets are often catch-alls for anything and everything remotely related to self-care. If you decide to rent a two-bedroom residence in the city, you can expect to pay $700 on average. While there may be some cities in Wyoming that have higher home prices than other U.S. states, housing costs are still between 40 and 50 percent cheaper than Colorado. Butte The average effective property tax rate in Wyoming is 0.61%, but it can get as low as 0.49%. Average utility costs are determined based on basic utilities such as electric, gas, and water bills. No professional sports teams. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. You can also run into bears or rattlesnakes, so it is wise to be cautious as you move about even if youre living in the city. In Boise, the average household income is $49,180. 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. Partner Montana is the state which is known for its natural beauty. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. The overall cost of living in Texas is 8.8% lower than the national average, which puts the state just outside of America's top 10 cheapest. Copyright 2009-2022, Allied Van Lines, Inc. All Rights Reserved.Site Map | Privacy Policy, Moving Timeline for Corporate Relocations, The Best Places to Live in Colorado: A Movers Guide, 7 Reasons to Consider Moving to Auckland, New Zealand, 6 Things You Should Know About Living in Ann Arbor. You will find links to both official statistics and people's impressions. Like Wyoming, Colorado has one the lowest sales taxes in the nation (among states that do have a sales tax). It could be a disadvantage if someone keeps eating your garden, but it can also be one of the best experiences of your life. You will find several different creatures here that are not always present elsewhere, such as the sandhill crane. 5. Tuition only costs $5,581 per year for state residents at the University of Wyoming, and $18,151 for out of state students. The standard of living in a city refers to other factors as well. 5. 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. Housing is the biggest factor in the cost of living difference. Idaho's cost of living is lower than other parts of the country. Montana has several nicknames, although none are official, incl.. More 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. Tax rates are a factor in the cost of living that can sometimes creep up on you with unexpected costs. The cost of living in Oregon is a little higher than it is in other states. That beats the national average by almost $30 per month. Living Wage: $15.64 $31.83 $41.51 $55.25 $25.69 $30.79 $35.78 $40.19 $12.85 $18.01 $23.12 . Below are the most relevant links to Cost Of Living Montana Vs Wyoming data. 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. You can get a decent education when you live in Montana. Housing costs, defined as a blend of the average rent and average mortgage payment, are . Finding a home can be challenging when moving to Montana. Wild West Smackdown: Montana Versus Wyoming. The table below lays out average cost ranges for different moving services depending on the size of your home. That is somewhat high, but the low $0.23 per gallon gasoline tax makes up for the price of the gas itself. Colorado also has one of the lowest property tax rates in the country even lower than Wyoming. Rental costs are comparatively cheap in Montana compared to the United States. 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. Salem 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. Car insurance premiums cost as much as $1,338 per year, but location, age, and driving history play a role. 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. Montana would become a territory in 1864, but the rapid influx of people quickly stopped as the boomtowns disappeared when the gold ran out. Wyoming residents spend an average of $843 per month of rent, and the median home value is $140,200. Wyoming residents with group insurance and individual insurance visit the doctor 25% more than the national average. On the flip side, there are also cities in Wyoming that are more expensive. There's a new study that has declared that Wyoming is a better place to live than Colorado or Montana. 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. For some, living here brings them the peace they need, while others discover exciting new opportunities to explore. Wyoming, Montana, and Idaho is a tri-state region with cultural similarities in the Mountain West. (2022-11-23 salary.com) Montana is a tax . During the last year, home appreciation has grown in the city by about 12 percent. Military veterans can also qualify for $3,000 in property tax exemptions if youve been a Wyoming resident for 3 years. Each city in Wyoming has different average utility bills, and energy consumption determines your total monthly cost. 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). The living wage of a family in Wyoming comprised of two working adults with two children is approximately $19.14. There might be big skies to go explore in Montana, but there are also some challenging weather events that you will need to manage. Fortunately, one of the main financial advantages of living in Wyoming over Colorado is the lack of state income tax. 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. Gillette 3. This typically depends upon which city you call home. 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. Regardless, even with the higher median home prices, it is still cheaper to purchase a home in Wyoming than Colorado. What you see on the price tag is actually what you will pay! The median home value in Helena is $282,300. Whether you decide to move to Wyoming or Colorado, transportation costs are another important consideration involved in determining the overall cost of living in either state. The median home value in Wyoming is $251,970, and the overwhelming majority of residents own their houses. Partner A cost of living index above 100 means Wyoming, Wyoming is more expensive. It gets an annual snowfall of 300 inches on average, which makes it a great skiing spot. The median home value is $198,400, with the states median per-person income coming in at $25,000. Montana has the famous Big Sky Ski Resort, which is set out on 5,800 acres of land. The state spends an average of $20,380 per student, much higher than the national average of $12,201. The city's median household income comes to $48,075. The group ranked all 50 states based on weather, cost of living, crime, quality of health care, state and . Housing Costs in Montana Average Housing Costs in Montana: $590 to $1,429 per month No matter where you live, housing will be a major recurring expense. Private schools in less expensive cities like Casper tend to be cheaper than private schools in more expensive cities like Jackson. If you own a home in your former location the sale of that home needs to be completed as well. You can enjoy a day of horseback riding for $74 per person and touring the Grand Teton safari costs $125. Conclusion Wyoming is also known as the paradise of the western US. The Northwest region of the United States consists of Washington, Oregon and Wyoming along with Idaho, Montana and Alaska. Housing is the biggest factor in the cost of living difference. The cost of living in Wyoming is significantly higher. You are going to have plenty of run-ins with wildlife after moving to Montana. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials of over 300+ US cities. Without a sales tax, the price of your purchase will be more straightforward. You will discover that the people living in Montana are generally quite friendly. The state of Wyomings sales tax is tied for the second-lowest rate of any state that has a sales tax, at just 4%. Due to high housing costs in Jackson, Wyoming, the homeownership rate is only 37.1%. In the city, the median home price is $172,000. There is therefore much pure untouched land and the majority of the population is centred in county seats. Although the median home price in Cheyenne, Wyoming is above the national average, in the majority of the state it is unlikely that youll purchase a home for higher than the national average. The state's cost of living is slightly higher than average. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. From snow capped mountains to meadow valleys, the region has it all. Median home price and median income determine the 10 most affordable cities in Wyoming. There is also no estate tax. In Spokane, the median home price is $185,500. 9. Residents in Wyoming face a violent crime rate of 1 in 471, and a property crime rate of 1 in 56. The median price of a home in Wyoming is $272,700, which is about 6.5% less than the national average of 291,700. She grew up surrounded by constant home improvement projects and owes most of what she knows to helping her dad renovate her childhood home. Prices have increased by 12 percent during the last year. Homes in the area sell for $447,000, which is about $100,000 higher than the median in Montana. 1-888-368-4689 His name is Sway. Water bills can cost as much as $50 or more per month in Wyoming, but it depends on usage. 1. The state also works hard to manage the deer population, which is why hunting is just part of the way of life here. Your utility costs when living in Montana are also much lower compared to most other states. Overview of Wyoming Area 97,810 SQ. Between the months of November and March, it is not unusual to experience 100-degree swings and temperature from week to week, going from -50F to 50F above. five miles). However, more affordable housing is still considered a major advantage to settling in Wyoming over Colorado. Hunting and fishing are significant components of tourism. If you own a home in your former location the sale of that home needs to be completed as well. This means that whether youre a teacher, doctor, carpenter, rancher, or dog-walker, you dont have to pay any sort of income tax on your personal income including capital gains and income from interest. Our Premium Cost of Living Calculator includes costs of restaurant meals, prepared food, dry cleaning and laundry, cosmetics, . 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 Most newcomers have settled in and around the capital, compounding the state's urbanization. The cost of living index in Wyoming is 98.1, meaning it is about 2% more affordable to live in Wyoming than the national average (100). 1. Renting a house typically has fewer up-front costs and usually includes maintenance. 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. Follow along, and we will explore the costs of living in Wyoming, and why every penny is worth it. Today, residents of Wyoming can say that they live in one of the safest and most affordable states in America. In the table below, you can find sample costs based on the area you live in Wyoming. When he is not writing about home improvement or taking on projects around the house, he likes to read and create art. Median selected monthly owner costs -with a mortgage, 2014-2018: $1,228: $1,428: Median selected monthly owner costs -without a mortgage, 2014-2018 . Wyoming has a rich history, and its background earned the state its nickname, the Equality State. The median home value is around $168,300 with the average household income coming in at around $45,775. You dont need to become a doomsday prepper to manage this disadvantage, but it may be some time before you can find some help. Photo by John Kakuk/Unsplash. Wyoming has many cheap places to live, and the cheapest is Worland, where rent costs as little as $610 per month. In Wyoming, once you finish your federal tax return, your taxes are complete for the year. Gasoline costs are not the only expense of owning a car in Wyoming, and car insurance is a necessity. If you enjoy hiking, there are several one-day and two-day hiking tours that you can join with a guide. The cost of living in Wyoming is below the national average due to low housing, utility, and grocery costs. Montana is mountainous, while Wyoming is mostly plains. Boise's average price of rent is $650 for a one-bedroom home and $1,200 for a home with three bedrooms. Wyoming Cost of Living Index; Housing; Inflation Tables; Links to Other Sources of Business and Economic Data; Wyoming Labor Market Information; Wyoming Business Council; Guide to Regional Economic Data. Wyoming. Whether youre considering purchasing a home in Wyoming or Colorado, you must think about the property taxes in either state. While the costs of health insurance coverage in Wyoming are lower, the frequency of doctor visits is higher. Purchasing a home can be a lengthy and complex process. Car insurance premiums may cost you $176 per month, and up to $2,100 or more per year, depending on age. 412K views 2 years ago #MontanaRealEstate Montana vs. Idaho The Cost of Living will break down everything you need to know if you are thinking about moving to Montana or Idaho. Most people in Montana will let you go about your business without complaint. Montana is the third largest state (behind Texas, and Alaska), and we have just over a million people (1.03 million) living in a state that is 380,832 km. Roberts/Red Lodge, MT 59070 Website Design by Media Works, LLC Hunting is also an activity that locals and tourists enjoy. The U.S. Energy Information Administration reports that the average bill for homeowners is less than $87. Despite its large amount of land mass, Montana's 1 million residents make the state one of the country's smallest by population. Before just hiring a moving companyto move to the Northwest, weve covered the Southwestern states and their demographic background to show you how the cost of living and real estate market varies across the region. The state does maintain taxes on beer, liquor, wine and cigarettes, though. link to What Kind Of Paint For Garage Walls? Sales taxes are never higher than 6% in Wyoming, 61 out of 99 municipalities within the state. The city's rental costs are affordable; you'll pay $765 for a two-bedroom home. That puts your housing costs at a much lower rate compared to what you will experience across the rest of the country. It is considered arid in Wyoming, but the spring and summer experience a lot fair amount of rain. Washakie County is where Worland is located, and the property tax rate is low at 0.66% of assessed home value. Worland is affordable, safe, comfortable, and charming, and its a great place to live. These costs include expenses like gas prices, vehicle purchase prices, bus fares, monthly transit passes, and other public transportation fees. Source: Wikipedia (as of 04/11/2019). 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. Right now, there are over 421,000 licensed drivers in the state of Wyoming. Wyoming residents pay taxes on other goods in addition to the 4% sales tax like gas, alcohol, and cigarettes. If you see a new trend happening in California or New York, there is an excellent chance that you will not get to experience whatever is hot right now for at least two years and that is assuming youll ever get to in the first place. 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. Cost of living: The cost of living index in Bozeman is 111, which is 11 percent higher than the average cost of living in the U.S. (which is 100) and 13 in Montana (Montana's average cost of living is 98 percent compared to 100 in the U.S.). In Montana, the typical home is worth $219,600, $14,700 more than the national median home value of $204,900 . Despite the location in the mountains, the state cant endure some severe thunderstorms from the spring to the autumn. 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. On our website, we have collected a lot of different data on the cost of living. If you decide to purchase a house in Montana, then you will want to learn how to live with the wildlife. The average salary index in Montana is $48,427 per year, roughly $23.28 per hour. It averages 300 inches of snow every year, making it an excellent skiing destination. Wyoming offers reasonable prices on homes, and they appreciate very quickly. October 22, 2014, 3:27 AM. The average American driver consumes 656 gallons per year, and in Wyoming, that could cost as much as $1,810 per year. It's a Literary Wonderland. . So are neighboring states Iowa and Wyoming. He is always looking towards the newest trends in home improvement. One of the most expensive places to live in Wyoming is Jackson, and the median home value is $655,300. Seattle's median household income is $63,470. Thinking about moving to another city? With the exception of expensive resort towns (think: Jackson), real estate is also very affordable in Wyoming. Outdoor recreation. Housing leads the way at 15.2% lower. Purchasing a home can be a lengthy and complex process. Montana is a renowned state for its natural beauty. Beer is a way of life in Montana. In Wyoming, renting can sometimes be more economical than buying a home. Side-by-side comparison between Wyoming and Montana using the main population, demographic, and social indicators from the United States Census Bureau. Miners, cattle ranches, and supportive industries would remain, running into conflicts with local tribes that required the intervention of the U.S. Army.