Utilities and transportation costs are also below the U.S. average, but Wyoming's healthcare costs are above the national average. Knowing your state, city, and county tax rates can help you figure out and stick to a feasible living budget. However, housing is getting a bit pricey. Educational fun is also available all over Wyoming, and one fine example is the $10 per person Cheyenne Frontier Days Museum. The state's cost of living is slightly higher than average. But the fact that the city has no sales tax and low transportation and utility costs helps make up for it. The table below lays out average cost ranges for different moving services depending on the size of your home. The public education system in Wyoming is well regarded, and it is the best schooling option to save money. Sales taxes are never higher than 6% in Wyoming, 61 out of 99 municipalities within the state. With the state being such a desirable state for transplants, many people have also been moving to Colorado. Being a largely rural state, Wyoming usually has a housing supply that is on the low end. 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. Luckily, you dont have to spend a fortune to get your kids a great education in Wyoming. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. Montana requires you to be self-sufficient. This way of life includes tons of outdoor recreational opportunities and a conservative state government. (Real estate information provided by: Trulia.com and Bestplaces.net), Allied Van Lines, Inc. MC 15735 U.S. For this example, you can compare food costs for a more affordable city, Casper, and a more expensive city, Jackson. With Wyomings statewide average rent of just $855 per month, the state is one of the most affordable places for renters. Meanwhile, the median home price in Colorado is $488,600 - a staggering 79% higher than Wyoming. Pocatello Median selected monthly owner costs -with a mortgage, 2014-2018: $1,228: $1,428: Median selected monthly owner costs -without a mortgage, 2014-2018 . Contact As an Amazon Associate, I earn a small commission from qualifying purchases.If you would like information about homes and land for sale in Montana, Please contact us at any time!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 #MontanavsIdaho #MontanaCostofLiving Wyoming is no exception, and thankfully, tax rates are so low that the state has earned a reputation for it. A small park of Yellowstone is also in Montana. 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. For example, the property tax rate in Gilpin County is just 0.23%. 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 average salary index in Montana is $48,427 per year, roughly $23.28 per hour. There are also several private school options in Wyoming. During the past year, homes have appreciated by 1.3 percent. They built a sawmill as part of their community and promoted agriculture, making it be the first permanent settlement in the state. 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. Wyoming offers reasonable prices on homes, and they appreciate very quickly. Spokane Wyoming, Montana, and Idaho is a tri-state region with cultural similarities in the Mountain West. - Compare Cities cost of living across 9 different categories - Personal salary calculations can optionally include Home ownership or rental, Child care, . The standard of living in a city refers to other factors as well. Winter can bring freezing temperatures as early as October in some years when you live up near the border with Canada. Population: 48,330. The median home value in Helena is $282,300. Montana has no sales tax, which is a huge long-term benefit. Butte's median home price is $145,300. This can be a significant factor for people who enjoy outdoor activities like hiking and skiing. The statewide average electrical bill in Wyoming is $85 per month, and thats $22 less than the national average. Fortunately, one of the main financial advantages of living in Wyoming over Colorado is the lack of state income tax. Everyday items like food and clothing, as well as some large purchases like appliances and vehicles, will be more affordable in Montana. There are plenty of real estate opportunities where your nearest neighbor will be several miles away. The group ranked all 50 states based on weather, cost of living, crime, quality of health care, state and . According to reports, the city's median household salary is $51,240. 5. Living in Wyoming is worth every cost, and that is why it is considered one of the best states to live in. 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? Although far down the list of most populous states, Montana has two cities ranked among Livability's 2018 Top 100 Best Places to Live. Hunting and fishing are significant components of tourism. Taxes. There are over 28,000 farms and ranches currently operational. Lets take a look at median home prices and the percentage of homes in that range. The majority of violent crimes in Wyoming are physical assaults, and most of the property crimes are thefts and burglaries. Many residents are working outside as part of their employment as well, whether they are farmers, ranchers, or oil industry professionals. People who make their home in Billings will see a median home value of $280,200. There are about twenty-one states with average monthly rental prices under $1,000. Knowing these amounts and what to expect can make a world of difference, especially for those considering a move to the region. These median figures can vary substantially throughout the region. If you decide to purchase a house in Montana, then you will want to learn how to live with the wildlife. You can expect to pay $1,428 per month on homeownership costs, on average, as a Wyoming resident. (2022-11-23 salary.com) Montana is a tax . The weather in Montana can be challenging to manage at times. It is a very different lifestyle than what you will find along the East or West Coast. Car insurance premiums vary based on personal driving history, gender, and how many licensed drivers are in your city. Worland is affordable, safe, comfortable, and charming, and its a great place to live. 8. October 22, 2014, 3:27 AM. Even if you decide to live in a city like Helena, there are numerous chances to get outside and enjoy the extra space. Without a sales tax, the price of your purchase will be more straightforward. The Northwest region of the United States consists of Washington, Oregon and Wyoming along with Idaho, Montana and Alaska. Housing is one of the largest components of cost of living. Summers can be downright hot, unless you end up living in one of the mountain communities. Accommodation should be around $80 a night for a double room, in comparison with Wyoming averaging at . The average household salary totals $48,000. 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. In Salem, the median household income comes to $45,565. Cost of living is used to determine how expensive one place is versus another. The median income in Wyoming is $61,584, so your food budget should be about $6,800 per year. The state has several affordable cities. No major metropolitan areas. Renters typically pay around $1,030 a month; however, this figure does tend to vary throughout the state. 709 Apricot St Bed 3 Bath 2 . Montana (/mntn/ (listen)) is a landlocked state in the Northwestern United States. Sheridan College is more affordable for in-state and out of state residents, and tuition costs $4,170 and $10,110 per year, respectively. It will also help to keep at least three days worth of supplies in your vehicle. The median home value in Wyoming is $251,970, and the overwhelming majority of residents own their houses. In fact, there are just 6.8 people per square mile here, compared with the national average of 87.4. Wyoming ranked 51st most expensive and 52nd best state to live in the United States. Wyoming. Aside from median housing prices, lets take a deeper look at how the cost of living compares in Wyoming vs. Colorado. There is no state income tax in Wyoming, and the other tax rates are low compared to other states in America. You will want to have a temporary rental set up for your family if you are moving to Montana in the near future. Montana Is Full of Great Places to Live. Montana real estate and Idaho real estate have some similarities but there are some major differences that we cover in this video. Helena In Wyoming, once you finish your federal tax return, your taxes are complete for the year. During the last year, the city has seen its homes depreciate by around 0.7 percent. Wyoming has a rich history, and its background earned the state its nickname, the Equality State. Housing costs, defined as a blend of the average rent and average mortgage payment, are . 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. Note: You can also compare counties and cities. 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. Both are very popular in Montana, with gun ownership and an appreciate of the outdoors serving as strong cultural values almost to the point where it could be considered a religion. However, if it is below that amount and youve occupied the home for three years, you may receive property tax exemptions. 1. 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 is large and there are challenges to face when living here, but those who call it home would say that you are a stronger and better person when you can conquer those difficulties. Seattle With cities like Seattle, Spokane and Tacoma, the state is one of the country's most popular places to live. . 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. Dec 14, 2020 Politics in the state of Montana are divided based on where one lives. Montana is cheaper than Wyoming, with a cost of living index of 96.5 compared to Wyoming's index of 108.3. 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. Picturesque cities like Portland, Salem and Astoria tend to encourage people to move to Oregon. It also ranks among the top 20 most affordable states in the nation, according to MERIC data collected in late 2021. 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. A cost of living index above 100 means Montana, Montana is more expensive. If youre over the age of 65, however, you can qualify for exemptions if the house is your principal property. 1) In Montana, the average lift ticket cost is $46/day. Helena, Billings and Butte are just three of the state's popular cities. You will discover that the people living in Montana are generally quite friendly. The average private school tuition in Wyoming is approximately $8,689 per year. It is not unusual for someone to chat with a stranger in a diner simply to pass the time. Housing costs are far below the national average in Wyoming, and homeownership rates are above the national average. DOT No.076235Texas intrastate moves are hauled under the authority of Allied Van Lines, Inc., TxDMV No. The states average effective property tax rate is a mere 0.49% and some areas have rates that are even lower. Tuition only costs $5,581 per year for state residents at the University of Wyoming, and $18,151 for out of state students. 1. Searching for Montana Vs Wyoming Cost Of Living information? It averages 300 inches of snow every year, making it an excellent skiing destination. Affordable housing is almost nonexistent throughout much of the state. Wyoming is known for having the lowest tax rates in the U.S., and that is reason enough to live there. In the category of groceries, Oregon residents pay a little less. The rent in . . The median home price in Montana is $232,100. 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. The following table outlines some of the major cities in Wyoming and Colorado, along with their associated median home prices: With its booming economy and wealth of employment opportunities, Colorado has quickly become one of the fastest-growing states in the U.S. 1-888-368-4689 US Census Bureau Home Page; US Bureau of Economic Analysis; US Bureau of Labor Statistics. Wyoming in number 1. Source: Wikipedia (as of 04/11/2019). It isn't as desolate, but the highway can be pretty empty at times. After people stopped wearing the beaver hat and the animals were becoming scarce, this initial effort at settlement would eventually fail. Montana is a renowned state for its natural beauty. 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. Luckily, there is an excellent public school system in Wyoming, and you dont have to spend a fortune for a great education. Private school is not exorbitant in Wyoming and costs an average of $8,689 per year. Renting a house typically has fewer up-front costs and usually includes maintenance. From Glacier National Park in the northern part of the state to the border of Yellowstone in the south (with 3 of the parks 5 entrances), you can choose plenty of trails when the itch to explore needs to be scratched. Related Guide:What Is The Cost of Living In Wyoming vs. Colorado? If you own a home in your former location the sale of that home needs to be completed as well. The cost of living in Wyoming is below the national average due to low housing, utility, and grocery costs. Then everyone takes the chance to get some camping, hiking, and hunting in whenever possible. Hawaii has the highest costs across all indexes, except healthcare. Butte's median household salary is $98,015. 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. When he is not writing about home improvement or taking on projects around the house, he likes to read and create art. The state spends an average of $20,380 per student, much higher than the national average of $12,201. When the railroads finally crossed into Montana in the 1880s, enough people called the land their home that it could become a state. In general, your food budget should be 11% of your annual income, 6% for groceries, and 5% for dining out. Overview of Wyoming Area 97,810 SQ. It can can take 7.5 hours to drive from the southern tip (West Yellowstone) to the Northern border (Roosville BC). The average amount that a single family with two adults and one child spends on food per year is $8,639. 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. This eliminates the responsibility and expense of owning a house and can leave you with more disposable income. People who call the state their home pay around $230,700 for a residence and pay an average $840 a month on rent. 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. If you plan your move to Wyoming around these activities, you should keep the costs in mind. When you live in Montana, then you will discover that neighbors rely on one another to make it through the difficult times. Montana is the 4th largest in area, the 8th least populous, and the 3rd least densely populated of the 50 U.S. states. On the flip side, there are also cities in Wyoming that are more expensive. What Is The Cost of Living In Wyoming vs. Colorado? The average salary after taxes in Wyoming is $3456, which is enough to cover living expenses for 2 months. You might experience a car battery that freezes and fails to start your vehicle thanks to the weather that you can find here. Wyoming is a great state for retirement, especially if you're looking to pull off an early retirement. Housing is the biggest factor in the cost of living difference. The state's cost of living is slightly higher than average. Outdoor recreation. MI. Most of Wyomings costs of living are below the national average, and its one of the best states to live and retire. Average property tax payments vary widely based on both median home values and property tax rates in the county. The city's housing market appreciated by 13 percent during the last year. 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. There are only 1.07 million people living there being the 4th largest state by area. Wyomings average effective property tax rate, or the annual taxes as a percentage of home value, is only 0.57%. Montana has the famous Big Sky Ski Resort, which is set out on 5,800 acres of land. Wyoming residents with group insurance and individual insurance visit the doctor 25% more than the national average. Some questions to ask before choosing a new place to live include: Is healthcare affordable? An abundance of natural beauty. It's a big state with a small population, with just 1.69 million people call Montana home. Compared to the United States average $1,558 monthly ownership costs, Wyoming housing costs are quite reasonable. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. What you see on the price tag is actually what you will pay! If you decide to rent a two-bedroom residence in the city, you can expect to pay $700 on average. Snow can fall in Wyoming between the months of October and May, and it can snow as much as 5 at once. 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. See Listings $305,000 . 3) Montana is full of backcountry skiing treasures, including the Swan Mountains, Whitefish Range and Glacier National Park. Washakie County is where Worland is located, and the property tax rate is low at 0.66% of assessed home value. Colorado, on the other hand, has a cost of living index of 121.1, so it is significantly more expensive than both Wyoming and the national average. Check out these leading cities and their demographics down below. Smaller island ranges are found throughout the state. That is somewhat high, but the low $0.23 per gallon gasoline tax makes up for the price of the gas itself. Whether youre considering purchasing a home in Wyoming or Colorado, you must think about the property taxes in either state. 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. There are plenty of outdoor adventures to enjoy when living in Montana. 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. 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. . When it comes to rent, a two-bedroom home or apartment costs $775 on average while a four-bedroom rental is $1,260. That puts your housing costs at a much lower rate compared to what you will experience across the rest of the country. 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). Within the state, the median home value is $173,900, with an average household income totaling in at around $47,015. The Missoula metro area is the most expensive area in Montana. 2. Right now, there are over 421,000 licensed drivers in the state of Wyoming. Montana has generally better infrastructure, which means things will cost you a little less. 10. However, Missoula still has a 5% lower cost of living than the national average. Check out these top leading cities demographics down below. As a resident, you'll pay slightly more for health care than people in other states do. 4) Our backcountry ski mascot is a bobcat. Both Wyoming and Montana can get lists of snow and be bitterly cold because they're at high altitude. You will find links to both official statistics and people's impressions. Citizens who live in Tacoma pay $237,200 for a home on average. There are many commuters in Wyoming, and they spend an average of 17 minutes in the car for their commute. Did you know that the state of Montana has more cows living with orders then it does people? There are more than 500 miles of interstate highway to diverse when you are taking the east-to-west journey across the state. There is also no estate tax. The state of Wyomings sales tax is tied for the second-lowest rate of any state that has a sales tax, at just 4%. Many of the political divides that we experience in the United States are evident when you start living in Montana. Though, counties in Wyoming also collect local sales taxes on top of that rate of up to 2%. Your average Worland, Wyoming homeowners spend $1,099 each year in property tax payments. The cost of living in Wyoming is $1692, which is 1.19 times less expensive than the average in the United States. 6. Regardless, even with the higher median home prices, it is still cheaper to purchase a home in Wyoming than Colorado. Anytime that you buy gas at the pump, remember that theres a $0.23 per gallon gasoline tax rate in Wyoming. Here are my top Wyoming pros and cons for your consideration: A low state tax burden. 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. In fact, Colorado is seventh on the list of the states with the highest average monthly rents in the nation, right behind New York State. Wyoming is a paradise for those who love the outdoors. Utility bills are a factor in the cost of living whether you are a renter or a homeowner. The state also works hard to manage the deer population, which is why hunting is just part of the way of life here. 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. The average price of health insurance in Wyoming is $6,854 per person or $27,414 for a family of four. For rent, you'll pay $595 for a one-bedroom residence on average. 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. Homes appreciated by 4.9 percent over the last 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. Whereas, in Colorado, youll find that most cities have median home prices significantly above the national average. In Wyoming, the typical home is worth $213,300, $8,400 more than the national median home value of $204,900. There are some places where housing is exceptionally affordable, with Blaine County seeing an average selling price of just $59,500. Check it out. Montana is mountainous, while Wyoming is mostly plains. This state is a perfect combination of old western traditions and modern amenities. 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. South Dakota ranks 28th in cost of living about in the middle of the pack. Montana tends to be greener and it has one larger city and multiple Universities. The average sales tax rate in Wyoming is 4%, and that is generous by any states standards. Your Get free, zero-commitment quotes from pro contractors near you.