Montana Cost of Living Comparison

Montana: no sales tax, rising prices, homes ahead of incomes

Montana's relative prices were falling until 2024. The all-items parity dropped from 91.972 in 2020 to 90.179 in 2022, edged up to 91.014 in 2023, and then jumped to 94.645, a net gain of 2.673 points since 2020. Benchmarks from earlier in the decade understate where the state now sits.

Home values have run ahead of local incomes. The median home value of $375,800 ranks 18th, while the median household income of $72,509 ranks 37th. Renters fare better: the two-bedroom gross-rent median is $1,099 (rank 34) and gross rent takes 27.8% of renters' income, rank 43. Real per capita personal income, adjusted for prices, is $59,203, essentially level with the U.S. figure.

The state tax system has no general sales tax in the Census survey. Individual income tax supplied 47.7% of fiscal 2025 collections, $2,015 per resident; other selective sales 13.3%; licenses 11.8%; and the state's own property tax 9.5%, or $401 per resident. Severance taxes added 4.8%. Total collections were $4,225 per resident, rank 26. Owners paid a median $2,693 a year in real estate taxes overall.

Utilities (72.254) and goods (96.006) are where households save; other services (98.715) are close to national prices, and rents (84.648) are mid-table.

Of four neighbours, only Idaho (95.494) has a higher price level; Wyoming (92.691), North Dakota (88.959) and South Dakota (88.586) are cheaper, with two-bedroom medians from $950 to $987. North Carolina (94.326) is Montana's nearest price level nationally.

Before you budget a move

For Montana, decide whether the proposed move includes a different dwelling size, employer housing or frequent travel. Each condition changes personal cash needs without changing the statewide price parity on this page. The index measures a representative price environment, not the expenses assigned by an employment or lease agreement.

A Bozeman-area search and another Montana destination should be priced with real addresses and the same household needs. Use a current lease or lender quote when available. Historical medians cannot determine today’s listing, a property’s insurance terms or the annual income offered for a specific occupation.