Polson 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.
IndexPolsonMontanaNational
Cost of living index9298100
IndexPolsonMontanaNational
Goods & Services index95101100
Groceries index92101100
Health care index114106100
Housing index9097100
Transportation index9394100
Utilities index8186100
A general overview of the cost of living index for Polson, MT is displayed above. In Polson, MT, the overall cost of living index is 92, which is 6% lower than the Montana average and 8% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Polson, MT, the city's goods and services are 6% lower than the Montana average and 5% lower than the U.S. average.

Did you know?

  • The cost of living in Polson is 6% lower than the Montana average.
  • The cost of living in Polson is 8% lower than the national average.
  • The cost of housing in Polson is 10% 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.

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Compare Polson, MT Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Polson, MT to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Polson, MT, then you would need to earn more income in order to maintain the same standard of living. To use the Polson, MT salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$44,915$3,743$1,048$1,348
Renters$29,265$2,439$683$878
If you want to find a good determining factor for the cost of living and the general affordability of housing in Polson, MT, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Polson, MT, the median monthly income is $44,915 for those who own their own homes. Under the standard rule, that income level would allow for $1,048 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $29,265, per the median income in the area. That would allow for renters to spend up to $683 on monthly rental expenses.

Montana Sales Tax

StateGeneral Sales TaxWith Max Surtax
Montana0%0%

Montana Income Tax

StateIncome Tax (Low)Income Tax (High)
Montana1%6.9%
For those who live in Polson, MT and want to know what the true cost of living is, they ought to look at both the Montana income tax rate and the Montana sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Montana, the sales tax is 0%, while the most you'll pay in surtax is 0%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Montana, the income tax rate ranges between 1% to 6.9%.

Goods & Services

ItemPolsonNational avg.Difference
Haircut $14.60$14.590.0%
Beauty Salon $35.00$34.680.9%
Toothpaste $2.96$2.4719.7%
Shampoo $1.25$1.0222.3%
Movie $10.50$9.876.4%
Bowling $4.64$4.395.7%

Groceries

ItemPolsonNational avg.Difference
Ground Beef $4.08$4.488.9%
Fried Chicken $1.40$1.464.4%
Milk $2.02$2.3614.3%
Potatoes $1.62$3.0647.1%
Pizza $9.37$9.241.4%
Beer $9.44$8.639.3%

Health Care

ItemPolsonNational avg.Difference
Optometrist $122.74$99.7823.0%
Doctor $136.86$105.0330.3%
Dentist $96.20$88.708.5%
Ibuprofen $10.00$9.416.2%
Lipitor $311.32$298.504.3%

Housing

ItemPolsonNational avg.Difference
Home Price $173,700.00$175,700.001.1%
Avg. Mortgage Payment $971.74$1,081.0310.1%
Apartment Rent $635.00$920.0031.0%

Transportation

ItemPolsonNational avg.Difference
Gasoline $1.73$2.0917.1%
Tire Balancing $55.33$45.2922.2%

Utilities

ItemPolsonNational avg.Difference
All Electricity$141.93$170.8016.9%
Phone $22.01$28.2622.1%
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.
Turtle Lake, MT1893-7%
Elmo, MT17781-19%
Pablo, MT2,61681-19%
Ronan, MT1,90686-14%
Dayton, MT8498-2%
Polson, MT4,58092-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Coleman, TX4,58178-22%
Bremen, IN4,58184-16%
Okauchee Lake, WI4,58112323%
Laureles, TX4,58270-30%
Denver City, TX4,57778-22%
Polson, MT4,58092-8%
Source: The Polson, MT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.