Montana’s Ranking for 2023 Annual Average Cost Of Living

The cost of living doesn't seem to be going down, both across the country and in Montana. We have seen a rise in grocery and gas prices and the cost of buying a home. They all seem to continue to rise. When it comes to buying a home, in Montana, we rank as one of the most expensive states to try to make that happen.

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Purchasing a home, for most people, is the biggest purchase they will make in their lifetime. It's not an easy thing to do. These days in order to afford to purchase a typical home, a person needs to be able to put a substantial amount of money for just the down payment of a home.

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Montana's

So with the costs on the rise, where does Montana's average annual cost of living compare with other states, how far does our money go? For a lot of those that live in Montana you probably won't be surprised to find out that we don't rank very high when it comes to how affordable it is to live here. According to the Missouri Economic Research and Information Center, Montana comes in at number 33 when it comes to the annual average cost of living. The state with the lowest annual average cost of living in 2023 is Oklahoma followed by Mississippi, Kansas, West Virginia and Alabama. The most expensive state to live in is Hawaii.

The report looked at the cost of groceries, housing, utilities, transportation, health and miscellaneous goods. The only metric where Montana was below the national average, when it comes to cost, was the cost of utilities.