A cost of living index above 100 means Wyoming, Wyoming is more expensive. Winter can bring freezing temperatures as early as October in some years when you live up near the border with Canada. If you get caught in a storm or stuck in the snow, chains arent always going to get you out of that predicament. Because the winters can be difficult here, it is almost 100% necessary to own a four-wheel drive vehicle to support your needs. The living wage of a family in Wyoming comprised of two working adults with two children is approximately $19.14. 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. The advantages of living in Montana are many, but the high cost of buying a home is not one of them. It gets an annual snowfall of 300 inches on average, which makes it a great skiing spot. Home brewing is expanding throughout the state as well, with kits available at many retailers. Montana is like many of the other Western states in the fact that it supports a large craft brewing industry. Contact The average population per 1 square mile is 6.86. Wyoming is a paradise for those who love the outdoors. But you might be struggling to figure out what kind of paint to use on garage walls. The statewide average electrical bill in Wyoming is $85 per month, and thats $22 less than the national average. 5. 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. 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. What Is The Cost of Living In Wyoming vs. Colorado? 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. Conclusion Wyoming is also known as the paradise of the western US. Helena, Billings and Butte are just three of the state's popular cities. Dont forget your hiking gear, which can cost anywhere from $1,000 to $5,000. Taxes. Montana is cheaper than Wyoming, with a cost of living index of 96.5 compared to Wyoming's index of 108.3. Here are 15 things to know before moving to Wyoming. Regardless, even with the higher median home prices, it is still cheaper to purchase a home in Wyoming than Colorado. 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. 2. However, housing is getting a bit pricey. When you live in Montana, then you will discover that neighbors rely on one another to make it through the difficult times. Unlike Wyoming, which charges its highest property taxes on the mineral industry, Montana does not levy a property tax on oil, gas or coal holdings. Everyday items like food and clothing, as well as some large purchases like appliances and vehicles, will be more affordable in Montana. 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. Beer is a way of life in Montana. In sales tax, Montana beats out Wyoming ranking number 3 while Wyoming is number 6. Childcare costs $16,384 a year in Phillips County for two children compared to the Montana average of $16,520. However, inventory all across the state is now even lower and developers cant build homes fast enough to meet the high demand. The vertical drop is 4,350 feet long, making it the fourth-longest in North America. Two-bedroom rentals are also under $1,000 per month, while single-family homes with three bedrooms or more average $1,200 per month in the state. The delegates of the state typically vote Republican, but it is not unusual to have a Democrat representing Montana in the senate either. Sponsors are acknowledged. The Brawl of the Wild. Rock Springs 4. People who call the state their home pay around $230,700 for a residence and pay an average $840 a month on rent. The state does maintain taxes on beer, liquor, wine and cigarettes, though. Groceries and prescription drugs come with no sales tax in Wyoming, and that is a lifesaver. 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. Montana's income tax system is progressive, with marginal income tax rates that range from 1.00% to 6.75%. Laramie 5. Property taxes are yet another expense of owning a home anywhere you live, and luckily, its inexpensive in Wyoming. If you prefer archery hunts to rifle hunts, these can be more challenging and more expensive. Whether you have kids that are looking to study something specific in these schools or you were wanting to come back to our year degree, these public options are definitely a solid choice to consider. The cost of car insurance is generally 6% less than the national average. Wyoming is the best state to retire in, according to a list from Bankrate. 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. 7. Rent prices range from $1,070 for a two-bedroom space to $1,890 for an apartment or home with four bedrooms. Montana requires you to be self-sufficient. Luckily, driving costs are quite low in Wyoming, and the average cost of gasoline is $2.76 per gallon. Renters are in the minority in Wyoming, but there are still many of them, and they pay $843 on average. The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. An abundance of natural beauty. Montana Is Full of Great Places to Live. Housing is the biggest factor in the cost of living difference. Residents in Wyoming face a violent crime rate of 1 in 471, and a property crime rate of 1 in 56. In the category of salary, Tacoma's median household income is $50,440. Nick Durante is a professional writer with a primary focus on home improvement. . . Not to mention, living in Wyoming comes along with the lowest tax rates in the United States, so your money goes further. Bathroom closets are often catch-alls for anything and everything remotely related to self-care. It would be Roman Catholic missionaries that would help to save the effort of westward expansion, establishing Saint Marys Mission in the Bitterroot Valley. 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. Washakie County is where Worland is located, and the property tax rate is low at 0.66% of assessed home value. Educational fun is also available all over Wyoming, and one fine example is the $10 per person Cheyenne Frontier Days Museum. Wyoming has 62 school districts, 363 schools, and 94,578 students enrolled. You wont find utility bills that are much cheaper than in Jackson, Wyoming, where the average is $83 per month. You will find links to both official statistics and people's impressions. Childcare costs $15,701 a year in Niobrara County . The state is among a select few in the country that do not have a personal income tax. The U.S. Energy Information Administration reports that the average bill for homeowners is less than $87. 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. It's a big state with a small population, with just 1.69 million people call Montana home. If you have a love affair with beer and like to try different varieties, then youll love living in this state. Hunting is also an activity that locals and tourists enjoy. 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. If you bring up a political conversation, then expect to get some pushback if there is someone around who holds a different opinion. 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. The population density levels in Montana give you space. You will find links to both official statistics and people's impressions. As a Montana resident, you'll pay more for food and health care. How much does it cost to move from Montana to Wyoming? If you own a home in your former location the sale of that home needs to be completed as well. Your Get free, zero-commitment quotes from pro contractors near you. However, there are additional sales taxes levied by both counties and cities in the state. Sales taxes in Wyoming are the third-lowest in the country, besides the 5 states that have none. The cost of living in Wyoming is below the national average due to low housing, utility, and grocery costs. Water bills can cost as much as $50 or more per month in Wyoming, but it depends on usage. As a resident, you'll pay slightly more for health care than people in other states do. One of the most expensive places to live in Wyoming is Jackson, and the median home value is $655,300. If you are an Idaho resident, you'll pay less for groceries, utilities and transportation. Montana real estate and Wyoming real estate have. Housing is the biggest factor in the cost of living difference. Sitemap, Copyright Working Holiday Pty Ltd ABN 24 615 642 825. The Unemployment insurance tax ranking lists Montana at 19 and Wyoming at 31. It is a very different lifestyle than what you will find along the East or West Coast. Compared to the United States average $1,558 monthly ownership costs, Wyoming housing costs are quite reasonable. You might experience a car battery that freezes and fails to start your vehicle thanks to the weather that you can find here. Living in Wyoming is worth every cost, and that is why it is considered one of the best states to live in. Some questions to ask before choosing a new place to live include: Is healthcare affordable? If you own a home in your former location the sale of that home needs to be completed as well. Wyoming residents with group insurance and individual insurance visit the doctor 25% more than the national average. If you are in the middle of a road trip, then driving through Montana can seem like it takes forever. Private schools in less expensive cities like Casper tend to be cheaper than private schools in more expensive cities like Jackson. 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. Population: 48,330. There is therefore much pure untouched land and the majority of the population is centred in county seats. Today, residents of Wyoming can say that they live in one of the safest and most affordable states in America. There are only 1.07 million people living there being the 4th largest state by area. Housing is one of the largest components of cost of living. In the past, Wyoming was at the forefront of equality, and thats one of many great things it can boast. 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. 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 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. 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). 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. Those looking into the moving to the great state of Idaho should look into these popular cities, which include Boise, Coeur d'Alene and Pocatello. Living in same house 1 year ago, percent of persons age 1 year+, 2014-2018: 83.1%: During the past year, homes have appreciated by 1.3 percent. Wyoming offers reasonable prices on homes, and they appreciate very quickly. The average effective property tax rate in Wyoming is 0.61%, but it can get as low as 0.49%. Housing is one of the largest components of cost of living. For example, the sales tax rate in San Juan County is 9.4% but the rate in Boulder County is just 5%. As for individual income tax Montana is 21 and Wyoming again takes the top spot.