Laurel cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexLaurelMontanaNational
Cost of living index9298100
IndexLaurelMontanaNational
Goods & Services index9898100
Groceries index100100100
Health care index104104100
Housing index8097100
Transportation index101101100
Utilities index9292100
The above illustration supplies generalized information for the Laurel, MT cost of living index. Compared to other cities in Montana and cities across the country, the cost of living index in Laurel, MT is 92, which is 5% lower than the Montana average and 8% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Laurel, MT are equal to the average for Montana and 3% lower than the rest of the country.

Did you know?

  • The cost of living in Laurel is 5% lower than the Montana average.
  • The cost of living in Laurel is 8% lower than the national average.
  • The cost of housing in Laurel is 20% lower than the national average.
  • Montana general sales tax is 100% lower than the national average.
  • Montana state income tax is 55% lower than the national average.

Find Real Estate Listings In Laurel

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Laurel

Compare Laurel, MT Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Laurel, MT to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Laurel, MT, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Laurel, MT salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$53,125$4,427$1,240$1,594
Renters$27,393$2,283$639$822
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Laurel, MT as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Laurel, MT homeowners, is $53,125. This would allow for a maximum of $1,240 per month to be spent on housing costs. For renters, the median monthly income is $27,393 which would result in a maximum of $639 to be spent on rental costs.

Montana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Montana0%0%

Montana Income Tax

StateIncome Tax (Low)Income Tax (High)
Montana1%6.9%
The Montana sales tax and Montana income tax rates should definitely be considered when determining the overall cost of living in Laurel, MT. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Montana sales tax is 0% and the maximum surtax is 0%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Montana income tax rates range from 1% to 6.9%.

Goods & Services

ItemLaurelNational avg.Difference
Haircut $14.37$15.567.7%
Beauty Salon $37.33$36.113.4%
Toothpaste $2.72$2.4710.1%
Shampoo $0.95$0.961.6%
Movie $10.25$10.131.2%
Bowling $3.83$4.7419.0%

Groceries

ItemLaurelNational avg.Difference
Ground Beef $3.43$3.9813.9%
Fried Chicken $1.39$1.411.0%
Milk $1.75$2.0615.2%
Potatoes $3.67$2.9823.1%
Pizza $8.99$9.475.1%
Beer $8.65$8.791.6%

Health Care

ItemLaurelNational avg.Difference
Optometrist $82.77$101.0418.1%
Doctor $134.33$107.4425.0%
Dentist $82.20$90.429.1%
Ibuprofen $9.93$9.287.0%
Lipitor $455.84$426.506.9%

Housing

ItemLaurelNational avg.Difference
Home Price $147,500.00$175,700.0016.1%
Avg. Mortgage Payment $1,256.86$1,133.2310.9%
Apartment Rent $638.00$920.0030.7%

Transportation

ItemLaurelNational avg.Difference
Gasoline $2.09$1.994.7%
Tire Balancing $42.53$45.767.1%

Utilities

ItemLaurelNational avg.Difference
All Electricity$182.10$163.8111.2%
Phone $18.66$28.3934.3%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Edgar, MT14490-10%
Joliet, MT57891-9%
Park City, MT1,07297-3%
Billings, MT106,97998-2%
Silesia, MT10111010%
Laurel, MT6,88792-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Pratt, KS6,88983-17%
St. Albans, VT6,8891088%
Lampasas, TX6,88582-18%
Newport, TN6,89088-12%
West Point, NY6,89215151%
Laurel, MT6,88792-8%
Source: The Laurel, MT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.