Cost Of Living in Laurel, MT

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A

1%

Overall NAT. AVG.

4%

Goods & Services NAT. AVG.

8%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Laurel	Montana	National
Cost of living	101	101	100
Goods & Services	104	104	100
Groceries	101	103	100
Health care	104	98	100
Housing	92	99	100
Transportation	125	109	100
Utilities	93	93	100

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Cost Of Living Quick Facts

The cost of living in Laurel is equal to the Montana average
The cost of living in Laurel is 1% higher than the national average
Laurel housing is 8% lower than the national average
Montana general sales tax is 100% lower than the national average
Montana state income tax is 61% lower than the national average

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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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$66,860	$5,572	$1,560	$2,006
Renters	$35,982	$2,999	$840	$1,080

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 homeowners, is $66,860. This would allow for a maximum of $1,560 per month to be spent on housing costs. For renters, the median monthly income is $35,982 which would result in a maximum of $840 to be spent on rental costs.

Montana Sales Tax

State	General Sales Tax	With Max Surtax
Montana	0%	0%

Montana Income Tax

State	Income Tax (Low)	Income Tax (High)
Montana	1%	6.75%

Goods & Services

Item	Laurel	National avg.	Difference
Haircut	$29.17	$24.26	20.2%
Beauty Salon	$41.59	$45.56	8.7%
Toothpaste	$4.10	$3.70	10.8%
Shampoo	$1.23	$1.28	3.9%
Movie	$12.47	$12.13	2.8%
Bowling	$17.73	$18.00	1.5%

Groceries

Item	Laurel	National avg.	Difference
Ground Beef	$5.69	$5.84	2.5%
Fried Chicken	$1.40	$1.57	10.7%
Milk	$4.75	$4.67	1.6%
Potatoes	$4.54	$4.93	8.1%
Pizza	$12.10	$12.09	0.1%
Beer	$10.75	$10.41	3.3%

Health Care

Item	Laurel	National avg.	Difference
Optometrist	$153.82	$125.68	22.4%
Doctor	$187.05	$135.78	37.8%
Dentist	$102.51	$113.29	9.5%
Ibuprofen	$10.61	$10.65	0.4%
Lipitor	$348.38	$468.60	25.7%

Housing

Item	Laurel	National avg.	Difference
Home Price	$174,100.00	$184,700.00	5.7%
Avg. Mortgage Payment	$2,351.75	$2,346.69	0.2%
Apartment Rent	$835.00	$949.00	12.0%

Transportation

Item	Laurel	National avg.	Difference
Gasoline	$3.45	$3.46	0.2%
Tire Balancing	$111.34	$59.92	85.8%

Utilities

Item	Laurel	National avg.	Difference
All Electricity	$177.24	$193.99	8.6%
Phone	$183.03	$192.25	4.8%

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	Population	Cost of Living Index	National Avg.
Silesia, MT	16	105	4.7%
Edgar, MT	148	94	5.6%
Joliet, MT	633	98	2.2%
Park City, MT	1,090	104	4.4%
Billings, MT	109,705	109	8.6%
Laurel, MT	6,797	101	1.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
St. Albans, VT	6,796	106	6.1%
Cullowhee, NC	6,798	111	10.8%
Lochbuie, CO	6,795	112	12.5%
West Slope, OR	6,799	148	48.4%
Kirtland, OH	6,801	108	8.2%
Laurel, MT	6,797	101	1.0%