Hamilton 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.
IndexHamiltonMontanaNational
Cost of living index95100100
IndexHamiltonMontanaNational
Goods & Services index106106100
Groceries index104104100
Health care index9595100
Housing index8599100
Transportation index9191100
Utilities index8686100
A general overview of the cost of living index for Hamilton, MT is displayed above. In Hamilton, MT, the overall cost of living index is 95, which is 4% lower than the Montana average and 5% 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 Hamilton, MT, the city's goods and services are equal to the Montana average and 6% higher than the U.S. average.
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Did you know?

  • The cost of living in Hamilton is 4% lower than the Montana average.
  • The cost of living in Hamilton is 5% lower than the national average.
  • The cost of housing in Hamilton is 15% 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.

Compare Hamilton, MT Cost of living To Other Cities

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Use the salary calculator to compare your current income in Hamilton, MT to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Hamilton, MT, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Hamilton, MT salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$48,487$4,041$1,131$1,455
      Renters$29,375$2,448$685$881
      One can approximate the cost of living and the housing affordability in Hamilton, MT by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Hamilton, MT have a median income of $48,487. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,131 per month to avoid calamity and poverty. The renters in the city have an income of about $29,375, which would make their monthly maximum allowable rental costs $685.

      Montana Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Montana0%0%

      Montana Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Montana1%6.9%
      When you are determining the total cost of living in Hamilton, MT you will want to make sure you consider both the Montana sales tax and the Montana income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Montana is 0%, with the highest surtax being 0%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Montana have a range from 1% to 6.9%.

      Goods & Services

      ItemHamiltonNational avg.Difference
      Haircut $18.42$17.495.3%
      Beauty Salon $35.04$38.178.2%
      Toothpaste $2.42$2.324.3%
      Shampoo $1.11$1.019.7%
      Movie $11.30$10.725.4%
      Bowling $14.28$13.863.0%

      Groceries

      ItemHamiltonNational avg.Difference
      Ground Beef $3.99$3.902.3%
      Fried Chicken $1.50$1.407.5%
      Milk $1.91$1.962.7%
      Potatoes $4.41$3.1838.5%
      Pizza $12.02$10.3915.6%
      Beer $8.54$9.237.5%

      Health Care

      ItemHamiltonNational avg.Difference
      Optometrist $132.98$106.3425.1%
      Doctor $96.50$115.2516.3%
      Dentist $96.50$98.381.9%
      Ibuprofen $8.99$9.262.9%
      Lipitor $443.81$466.474.9%

      Housing

      ItemHamiltonNational avg.Difference
      Home Price $165,200.00$184,700.0010.6%
      Avg. Mortgage Payment $1,677.79$1,273.3231.8%
      Apartment Rent $707.00$949.0025.5%

      Transportation

      ItemHamiltonNational avg.Difference
      Gasoline $2.60$2.590.4%
      Tire Balancing $38.30$48.9021.7%

      Utilities

      ItemHamiltonNational avg.Difference
      All Electricity$131.71$167.6021.4%
      Phone $173.32$163.426.1%
      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.
      Charlos Heights, MT1681000%
      Corvallis, MT98791-9%
      Victor, MT74892-8%
      Pinesdale, MT95492-8%
      Hamilton, MT4,53995-5%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Cherry Grove, OH4,5391066%
      Centreville, MD4,53812525%
      Berlin, MD4,53811212%
      Highgrove, CA4,53711515%
      Arabi, LA4,54292-8%
      Hamilton, MT4,53995-5%
      Source: The Hamilton, MT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.