In fact, between 2019 and 2020, rent for a one-bedroom apartment dropped in Wyoming. Conclusion Wyoming is also known as the paradise of the western US. Childcare costs $15,701 a year in Niobrara County . Both Wyoming and Montana can get lists of snow and be bitterly cold because they're at high altitude. Montana has no sales tax, which is a huge long-term benefit. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials of over 300+ US cities. Housing is one of the largest components of cost of living. Housing is one of the largest components of cost of living. Montana is the state which is known for its natural beauty. 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, Missoula still has a 5% lower cost of living than the national average. 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. Jessica considers herself a home improvement and design enthusiast. Seattle Today, residents of Wyoming can say that they live in one of the safest and most affordable states in America. You will find links to both official statistics and people's impressions. The most significant difference occurs between the urban and rural voters here. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. The state is among a select few in the country that do not have a personal income tax. Like Wyoming, Colorado has one the lowest sales taxes in the nation (among states that do have a sales tax). Montana versus Wyoming: A Wild West Smackdown 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 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. It is considered arid in Wyoming, but the spring and summer experience a lot fair amount of rain. Affordable housing is almost nonexistent throughout much of the state. What you see on the price tag is actually what you will pay! Within the state, household income per capita is $26,700, and the median household income comes to $50, 035. The table below lays out average cost ranges for different moving services depending on the size of your home. 4. It is a very different lifestyle than what you will find along the East or West Coast. Utilities and transportation costs are also below the U.S. average, but Wyomings healthcare costs are above the national average. 10. 9. Renting a house typically has fewer up-front costs and usually includes maintenance. Many residents are working outside as part of their employment as well, whether they are farmers, ranchers, or oil industry professionals. Wyoming has 62 school districts, 363 schools, and 94,578 students enrolled. There is so much of this land that is empty, with the states population density the third-lowest in the country, behind Wyoming and Alaska. 15 Pros and Cons of Living in Montana But, with each states unique attributes aside, how do they compare in terms of cost of living? 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. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. You will find several different creatures here that are not always present elsewhere, such as the sandhill crane. How much more or less will pay for the same or similar job be in the new city? Accommodation should be around $80 a night for a double room, in comparison with Wyoming averaging at . But the fact that the city has no sales tax and low transportation and utility costs helps make up for it. Call Today 406-855-1884 2023 Western Agri Financial 500 West Bench Rd. The average private school tuition in Wyoming is approximately $8,689 per year. Besides down payments and monthly ownership costs in Wyoming, homeowners have to budget for yearly property tax payments. Living in same house 1 year ago, percent . Astoria Colorado vs. Wyoming for Retirement (2021) - Aging Greatly For rent, the states residents pay around $700 a month on average. Living Wage Calculator - Living Wage Calculation for Wyoming Meanwhile, the median home price in Colorado is $488,600 - a staggering 79% higher than Wyoming. 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. Thriving Technology and Business Climate. What you see on the price tag is actually what you will pay! Not only that, but Wyoming also boasts the lowest sales tax in the United States. Cost Of Living In Wyoming For 2022 (Taxes, Housing & More) 1-888-368-4689 Winter sports in Montana are always world-class. With the state being such a desirable state for transplants, many people have also been moving to Colorado. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. Wyoming residents spend an average of $843 per month of rent, and the median home value is $140,200. There is plenty of things to do in Wyoming, and wildlife tours and horseback riding are among the most popular. As a Montana resident, you'll pay more for food and health care. The average amount that a single family with two adults and one child spends on food per year is $8,639. Livestock sales make up about 50% of this overall figure. Using these numbers, we calculated the net change in annual disposable income that a move to the new city will have on your wallet and lifestyle. Politics in the state of Montana are divided based on where one lives. There might be big skies to go explore in Montana, but there are also some challenging weather events that you will need to manage. 5. 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). Salem Montana is cheaper than Wyoming, with a cost of living index of 96.5 compared to Wyoming's index of 108.3. 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. 3. Though, there is still much to love about Colorado, as it also has numerous outdoor recreational opportunities, in addition to beautiful landscapes, and a booming economy. However, life in Wyoming can be a bit jarring. Aside from median housing prices, let's take a deeper look at how the cost of living compares in Wyoming vs. Colorado. There are about twenty-one states with average monthly rental prices under $1,000. The lack of state income tax makes Wyoming a dream for residents trying to make the most of their income. Groceries and prescription drugs come with no sales tax in Wyoming, and that is a lifesaver. Lets take a look at median home prices and the percentage of homes in that range. See Listings $305,000 . Wildlife shares the wide-open spaces with you when your home is in Montana. Housing costs, defined as a blend of the average rent and average mortgage payment, are . In fact, there are just 6.8 people per square mile here, compared with the national average of 87.4. Wyoming residents pay taxes on other goods in addition to the 4% sales tax like gas, alcohol, and cigarettes. 6. Housing leads the way at 15.2% lower. There are opportunities for hiking, skiing, snowboarding, hunting, and more. One of the most significant tourism industries in Montana comes during the winter time. There are plenty of real estate opportunities where your nearest neighbor will be several miles away. 4) Our backcountry ski mascot is a bobcat. The average cost of rent in Worland, WY is $610 per month, and its $400 less than monthly ownership costs. Wyoming has a rich history, and its background earned the state its nickname, the Equality State. You are going to have plenty of run-ins with wildlife after moving to Montana. According to reports, the city's median household salary is $51,240. Alcohol sales are not subject to anything except for the 4%-6% sales tax rate throughout the state. With 3.9 million residents, Oregon is the 27th largest state in the U.S. When it comes to comparing the costs of travel in Montana vs Wyoming, these two neighboring states will vary in price. Being a largely rural state, Wyoming usually has a housing supply that is on the low end. 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. Wyoming is the best state to retire in, according to a list from Bankrate. This is $128 less than the national average for health insurance in the United States. Groceries, meanwhile, cost 9.8% less, and miscellaneous costs are 7% lower. 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. Population estimates, July 1, 2019, (V2019), Population, percent change - April 1, 2010 (estimates base) to July 1, 2019, (V2019), Population estimates base, April 1, 2010, (V2019), American Indian and Alaska Native alone, percent, Native Hawaiian and Other Pacific Islander alone, percent, White alone, not Hispanic or Latino, percent, Owner-occupied housing unit rate, 2014-2018, Median value of owner-occupied housing units, 2014-2018, Median selected monthly owner costs -with a mortgage, 2014-2018, Median selected monthly owner costs -without a mortgage, 2014-2018, Housing units in multi-unit structures, percent, 2009-2013, Living in same house 1 year ago, percent of persons age 1 year+, 2014-2018, Language other than English spoken at home, percent of persons age 5 years+, 2014-2018, Households with a computer, percent, 2014-2018, Households with a broadband Internet subscription, percent, 2014-2018, High school graduate or higher, percent of persons age 25 years+, 2014-2018, Bachelor's degree or higher, percent of persons age 25 years+, 2014-2018, With a disability, under age 65 years, percent, 2014-2018, Persons without health insurance, under age 65 years, percent, In civilian labor force, total, percent of population age 16 years+, 2014-2018, In civilian labor force, female, percent of population age 16 years+, 2014-2018, Total accommodation and food services sales, 2012 ($1,000), Total health care and social assistance receipts/revenue, 2012 ($1,000), Total manufacturers shipments, 2012 ($1,000), Total merchant wholesaler sales, 2012 ($1,000), Mean travel time to work (minutes), workers age 16 years+, 2014-2018, Median household income (in 2018 dollars), 2014-2018, Per capita income in past 12 months (in 2018 dollars), 2014-2018, Total employment, percent change, 2016-2017, American Indian- and Alaska Native-owned firms, percent, 2007, Native Hawaiian- and Other Pacific Islander-owned firms, percent, 2007. Wyoming Rankings and Facts | US News Best States One of the most expensive places to live in Wyoming is Jackson, and the median home value is $655,300. Wyoming vs Montana - A Battle of The Wild West We store towels, medicine, toiletry supplies, first-aid gear, massage devices, facial steamers, spare Painting your garage is a great way to improve the look of the space and make the walls easier to clean. It is 1,015 km wide and 410 km tall. Hawaii is the most expensive state to live in the United States. 1. The weather in Montana can be challenging to manage at times. The 10 Best Places to Retire in Wyoming - SmartAsset Knowing your state, city, and county tax rates can help you figure out and stick to a feasible living budget. 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. Boise's average price of rent is $650 for a one-bedroom home and $1,200 for a home with three bedrooms. With a cost of living index of 193.3, the cost of living in Hawaii is nearly twice the national average. Sponsors are acknowledged. Fortunately, one of the main financial advantages of living in Wyoming over Colorado is the lack of state income tax. In general, your food budget should be 11% of your annual income, 6% for groceries, and 5% for dining out. Most newcomers have settled in and around the capital, compounding the state's urbanization. However, monthly rental prices vary based on the specific city you live in. An amount below 100 means Montana is cheaper than the US average. Coeur d'Alene households earn $41,065 on average. A small park of Yellowstone is also in Montana. In Salem, the median household income comes to $45,565. July is the hottest that it gets in Wyoming, and temperatures can soar to 95 degrees Fahrenheit in some areas. 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. Utilities and transportation costs are also below the U.S. average, but Wyoming's healthcare costs are above the national average. Thinking about moving to another city? Ranching is alive and well in the state of Montana. Montana Is Full of Great Places to Live. In Boise, the average household income is $49,180. 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 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. Though, counties in Wyoming also collect local sales taxes on top of that rate of up to 2%. Everything here is about being as practical as possible. Side-by-side comparison between Idaho and Wyoming using the main population, demographic, and social indicators from the United States Census Bureau. Colorado's tax relief for retirees pales in comparison to what Wyoming offers. Sheridan College is more affordable for in-state and out of state residents, and tuition costs $4,170 and $10,110 per year, respectively. A salary of $39,500 in Billings, Montana should increase to $42,122 in Cheyenne, Wyoming (assumptions include Homeowner, . Wyoming has many cheap places to live, and the cheapest is Worland, where rent costs as little as $610 per month. The rent in . 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. 7. Median listing home price: $899,900. The state has a flat income tax rate of 4.83%, meaning regardless of your income, you only pay that rate. 1. On our website, we have collected a lot of different data on the cost of living. Regardless, both states have rates that are substantially lower than the national average of 1.07%. Sitemap, Copyright Working Holiday Pty Ltd ABN 24 615 642 825. She grew up surrounded by constant home improvement projects and owes most of what she knows to helping her dad renovate her childhood home. If you own a home in your former location the sale of that home needs to be completed as well. 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. Roberts/Red Lodge, MT 59070 Website Design by Media Works, LLC Car insurance premiums cost as much as $1,338 per year, but location, age, and driving history play a role. The Boise metro area alone is home to more people than in all of Wyoming. Taxi trip in downtown (approx. Montana Despite its large amount of land mass, Montana's 1 million residents make the state one of the country's smallest by population.