Regardless, even with the higher median home prices, it is still cheaper to purchase a home in Wyoming than Colorado. Outdoor recreation. 7143; Texas DMV Phone No. In Wyoming, once you finish your federal tax return, your taxes are complete for the year. That means it is essential to dress in layers, and always keep a survival kit in your car. For instance, in Washington and Oregon, everyday expenses are a little higher than they are in other regions; however, if you decide to live in Pocatello or Cheyenne, then you'll enjoy affordably priced goods and services. Compared to the United States average $1,558 monthly ownership costs, Wyoming housing costs are quite reasonable. Not only that, but Wyoming also boasts the lowest sales tax in the United States. Due to high housing costs in Jackson, Wyoming, the homeownership rate is only 37.1%. Fashion trends operate the same way here in the state. The rent in . In Denver alone, the amount of money thats bid over the asking price is also at a record-high. The. Move Size Moving Company Moving Container Rental Truck; Studio / 1 Bedroom: $1,408 - $3,855: $848 - $1,674: $597 - $826: 2 - 3 bedrooms: $2,499 - $6,450: The states average rent prices range from $690 for a two-bedroom residence to $1,160 for four bedrooms. 10. There are plenty of outdoor adventures to enjoy when living in Montana. The county in Wyoming with the lowest cost of living is Niobrara County. Click here to customize .) You will find links to both official statistics and people's impressions. New trends take forever to reach Montana compared to the rest of the country. 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. The lack of state income tax makes Wyoming a dream for residents trying to make the most of their income. Each week, Yahoo Travel pits rival destinations against each other to determine once and for all which place is the best . 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. But you might be struggling to figure out what kind of paint to use on garage walls. Everything here is about being as practical as possible. Car insurance premiums vary based on personal driving history, gender, and how many licensed drivers are in your city. If you are in the middle of a road trip, then driving through Montana can seem like it takes forever. The table below lays out average cost ranges for different moving services depending on the size of your home. Roberts/Red Lodge, MT 59070 Website Design by Media Works, LLC One of the most significant tourism industries in Montana comes during the winter time. Casper, Wyoming vs Billings, Montana Change Places . See Listings $195,000 . Without a sales tax, the price of your purchase will be more straightforward. 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. Home > Facts > United States > State Comparisons. The state's cost of living is slightly higher than average. Education, driving, grocery, and housing costs are all equal to or below the national average in Wyoming. 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. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. A small park of Yellowstone is also in Montana. Check out these top leading cities demographics down below. Residents in Wyoming face a violent crime rate of 1 in 471, and a property crime rate of 1 in 56. 1516 Golden Blvd Bed 4 Bath 3 2336SqFt 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 If you plan your move to Wyoming around these activities, you should keep the costs in mind. Luckily, there is an excellent public school system in Wyoming, and you dont have to spend a fortune for a great education. Within the state, the median home value is $173,900, with an average household income totaling in at around $47,015. This state is a perfect combination of old western traditions and modern amenities. 2) Each skier/boarder in Montana has 20 acres of in-bounds terrain all to themselves. There are many commuters in Wyoming, and they spend an average of 17 minutes in the car for their commute. On the cost of living index, Wyoming is 99.2 for grocery costs, the US average being 100. Expect to pay $1,338 per year, on average, for car insurance premiums in Wyoming, but there are many factors. This typically depends upon which city you call home. 2. With Wyomings transportation cost index of 77.6 and Colorados transportation cost index of 106.7, these expenses are quite a bit cheaper in Wyoming, which is evident in the table below. Taxes. The median home price in Wyoming is $229,200. (Real estate information provided by: Trulia.com and Bestplaces.net), Allied Van Lines, Inc. MC 15735 U.S. With the state being such a desirable state for transplants, many people have also been moving to Colorado. There are over 28,000 farms and ranches currently operational. You wont find utility bills that are much cheaper than in Jackson, Wyoming, where the average is $83 per month. Without a sales tax, the price of your purchase will be more straightforward. 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. 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. Adventurous Outdoor. You can enjoy a day of horseback riding for $74 per person and touring the Grand Teton safari costs $125. Boise's average price of rent is $650 for a one-bedroom home and $1,200 for a home with three bedrooms. When the railroads finally crossed into Montana in the 1880s, enough people called the land their home that it could become a state. As a Montana resident, you'll pay more for food and health care. Housing costs are lower in Worland than in Washakie County, where the median home value is $165,500. 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. Montana cost of living is 94.0. 1. After people stopped wearing the beaver hat and the animals were becoming scarce, this initial effort at settlement would eventually fail. 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. five miles). No major metropolitan areas. Our Premium Cost of Living Calculator includes costs of restaurant meals, prepared food, dry cleaning and laundry, cosmetics, . It isn't as desolate, but the highway can be pretty empty at times. The median income in Wyoming is $61,584, so your food budget should be about $6,800 per year. The state also works hard to manage the deer population, which is why hunting is just part of the way of life here. In the past, Wyoming was at the forefront of equality, and thats one of many great things it can boast. 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. This way of life includes tons of outdoor recreational opportunities and a conservative state government. Some private schools can be more expensive than others. In fact, there are just 6.8 people per square mile here, compared with the national average of 87.4. Montana's income tax system is progressive, with marginal income tax rates that range from 1.00% to 6.75%. Over time, not having to pay a tax on each purchase will help you to achieve a lower, Montana is ranked number 33 out of all states in overall healthcare access and affordability. It can can take 7.5 hours to drive from the southern tip (West Yellowstone) to the Northern border (Roosville BC). The low housing costs and relative infrequency of crime in the state make Wyoming ideal for retired residents. When it comes to rent, a two-bedroom home or apartment costs $775 on average while a four-bedroom rental is $1,260. For example, the property tax rate in Gilpin County is just 0.23%. The median home price in Montana is $232,100. 8. If your home is worth more than $237,000, then you cannot qualify for any exemptions at all. Fortunately, one of the main financial advantages of living in Wyoming over Colorado is the lack of state income tax. As far as taxes on property go, the average effective property tax rate in Montana is just 0.83%, well below the national average of 1.07%. Billings The cost of living is about 9% higher throughout the state than the national average. There is therefore much pure untouched land and the majority of the population is centred in county seats. They are currently 15 skin resorts in areas from which to choose, including the 5,800-acre Big Sky Ski Resort that gives you access to world-class runs at an affordable price. Montana has no sales tax, which is a huge long-term benefit. Helena 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. Wyoming is a great state for retirement, especially if you're looking to pull off an early retirement. Overview of Wyoming Area 97,810 SQ. As a Montana resident, you'll pay more for food and health care. This could be why Wyoming ranks first in the nation for high school education attainment, 92% of residents. Aside from median housing prices, lets take a deeper look at how the cost of living compares in Wyoming vs. Colorado. Knowing your state, city, and county tax rates can help you figure out and stick to a feasible living budget. However, Missoula still has a 5% lower cost of living than the national average. Average Cost of Living in Wyoming: $42,016 per year Wyoming has the lowest average cost of living among all of the Rocky Mountain states, beating out neighbors like Utah, Colorado, Idaho, and Montana. The average amount that a single family with two adults and one child spends on food per year is $8,639. Just as diverse as their landscape, however, is its cost of living. As the population increases here, so do the real estate prices, which have appreciated by 33% between 2005 and 2015. 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.). Snow can fall in Wyoming between the months of October and May, and it can snow as much as 5 at once. Groceries do not have an additional tax, including candy and soda. If you are an Idaho resident, you'll pay less for groceries, utilities and transportation. A salary of $39,500 in Billings, Montana should increase to $42,122 in Cheyenne, Wyoming (assumptions include Homeowner, . Across the state, the . People who call the state their home pay around $230,700 for a residence and pay an average $840 a month on rent. There are some places where housing is exceptionally affordable, with Blaine County seeing an average selling price of just $59,500. But the fact that the city has no sales tax and low transportation and utility costs helps make up for it. 11. It comes in at number 44. Call Today 406-855-1884 2023 Western Agri Financial 500 West Bench Rd. Car insurance premiums cost as much as $1,338 per year, but location, age, and driving history play a role. Most people in Montana will let you go about your business without complaint. Wyoming residents pay taxes on other goods in addition to the 4% sales tax like gas, alcohol, and cigarettes. Montana is the 4th largest in area, the 8th least populous, and the 3rd least densely populated of the 50 U.S. states. During the COVID-19 pandemic, people flocked to the state at record rates and apartment-dwellers desired more square footage. 1. Anytime that you buy gas at the pump, remember that theres a $0.23 per gallon gasoline tax rate in Wyoming. Wyoming is a paradise for those who love the outdoors. The pros and cons of living in Montana show us that this option is not for everyone. Hunting is also an activity that locals and tourists enjoy. It averages 300 inches of snow every year, making it an excellent skiing destination. Thriving Technology and Business Climate. 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. You can pretty much forget about the idea of public transportation. Below are the most relevant links to Montana Vs Wyoming Cost Of Living data. Worland, Wyoming is the definition of small-town living, and it doesnt hurt that it is so cheap. The people of Montana are warm and friendly. You are going to have plenty of run-ins with wildlife after moving to Montana. On our website, we have collected a lot of different data on the cost of living. ClearCreek Dec 14, 2020 #8 High Voltage FNG Joined Nov 3, 2019 Messages 96 Location Helena, MT ClearCreek said: Childcare costs $15,701 a year in Niobrara County . If you decide to purchase a house in Montana, then you will want to learn how to live with the wildlife. The most significant difference occurs between the urban and rural voters here. You can expect to pay $1,428 per month on homeownership costs, on average, as a Wyoming resident. Limited effects of urbanization. Car insurance premiums may cost you $176 per month, and up to $2,100 or more per year, depending on age. Only 26.7% of residents rent instead of own in Wyoming, and thats because houses are so inexpensive. Wyoming is no exception, and thankfully, tax rates are so low that the state has earned a reputation for it. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. The cost of living in Wyoming is below the national average due to low housing, utility, and grocery costs. The cost of car insurance is generally 6% less than the national average. 1) In Montana, the average lift ticket cost is $46/day. Portland Comparison Highlights Montana real estate and Wyoming real estate have some similarities but there are some major differences that we cover in this video. July is the hottest that it gets in Wyoming, and temperatures can soar to 95 degrees Fahrenheit in some areas. However, more affordable housing is still considered a major advantage to settling in Wyoming over Colorado. You can partake in guided rifle hunts, archery hunts, and wild turkey hunts, which can last two days to eight days. However, monthly rental prices vary based on the specific city you live in. The average private school tuition in Wyoming is approximately $8,689 per year. Summers can be downright hot, unless you end up living in one of the mountain communities. When you live in Montana, then you will discover that neighbors rely on one another to make it through the difficult times. It gets an annual snowfall of 300 inches on average, which makes it a great skiing spot. Driving is one of the most expensive costs in Wyoming, and residents can spend up to $1,810 per year. 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. View future changes in the minimum wage in your location by visiting. 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. 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. These costs include expenses like gas prices, vehicle purchase prices, bus fares, monthly transit passes, and other public transportation fees. These median figures can vary substantially throughout the region. The average living wage in Niobrara County is $82,423 according to MIT data. Helena, Billings and Butte are just three of the state's popular cities. There are more than 500 miles of interstate highway to diverse when you are taking the east-to-west journey across the state. 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. Its cost of living is 3.2% lower than the national average. 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. 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. . Montana is cheaper than Wyoming, with a cost of living index of 96.5 compared to Wyoming's index of 108.3. MI. If you currently live in a state with a sales tax and are sick of all the extra costs added to each purchase, you will immediately see the advantage Montana offers. However, there are additional sales taxes levied by both counties and cities in the state. Living Wage: $15.64 $31.83 $41.51 $55.25 $25.69 $30.79 $35.78 $40.19 $12.85 $18.01 $23.12 . The Brawl of the Wild. Once you have purchased and moved into your new home, there will be utility and maintenance costs as well as property taxes and home insurance that will contribute to your, Montana has no state or local sales taxes making it attractive for shoppers. Side-by-side comparison between Wyoming and Montana using the main population, demographic, and social indicators from the United States Census Bureau. The median price of a home in Wyoming is $272,700, which is about 6.5% less than the national average of 291,700. You can expect to pay $635 to rent a two-bedroom residence. 4. 4 season climate and lots of sunshine. Median home price and median income determine the 10 most affordable cities in Wyoming. You will find a lot of positives to consider when living in Wyoming, but these advantages come at a steep price. With the exception of expensive resort towns (think: Jackson), real estate is also very affordable in Wyoming. Gasoline costs are not the only expense of owning a car in Wyoming, and car insurance is a necessity. Citizens who live in Tacoma pay $237,200 for a home on average. If you get caught in a storm or stuck in the snow, chains arent always going to get you out of that predicament. The state's cost of living is higher than the national average and you'll pay a little more for health care and transportation than residents in other states do. Montana Despite its large amount of land mass, Montana's 1 million residents make the state one of the country's smallest by population. If you have a love affair with beer and like to try different varieties, then youll love living in this state. On the other hand, Medicare Advantage enrollees see the doctor 40% less than the national average. Wyoming residents with group insurance and individual insurance visit the doctor 25% more than the national average. - Compare Cities cost of living across 9 different categories - Personal salary calculations can optionally include Home ownership or rental, Child care, . Aside from median housing prices, let's take a deeper look at how the cost of living compares in Wyoming vs. Colorado. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. Phillips County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Montana as a whole. Wildlife shares the wide-open spaces with you when your home is in Montana. It is 1,015 km wide and 410 km tall. 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. Butte Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. The cost of living in Scottsdale is 33% lower than in San Francisco, freeing up some of your income and potentially giving you a bit more breathing room. This can be a significant factor for people who enjoy outdoor activities like hiking and skiing. She grew up surrounded by constant home improvement projects and owes most of what she knows to helping her dad renovate her childhood home. During the last year, home appreciation has grown in the city by about 12 percent. 3. The public education system in Wyoming is well regarded, and it is the best schooling option to save money. The average American driver consumes 656 gallons per year, and in Wyoming, that could cost as much as $1,810 per year. Its predicted that home prices will continue to rise and the market wont start to slow down until the interest rates go up. Jessica considers herself a home improvement and design enthusiast. Accommodation should be around $80 a night for a double room, in comparison with Wyoming averaging at . 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. 4) Our backcountry ski mascot is a bobcat. . One of the most expensive places to live in Wyoming is Jackson, and the median home value is $655,300. Coeur d'Alene's median home price is $491,000. Your Get free, zero-commitment quotes from pro contractors near you. Even the people who do not work in the outdoors will still source some of their food from the hunting and fishing activities which are allowed in the state.