A
9%
Overall NAT. AVG.
10%
Goods & Services NAT. AVG.
43%
Housing NAT. AVG.
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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 Missoula Montana National
Cost of living109101100
Goods & Services90104100
Groceries100103100
Health care9398100
Housing14399100
Transportation103109100
Utilities9393100

An Overview of Cost of Living in Missoula, MT

Getting a feel for the cost of living in Missoula is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Missoula is 109, which is 9% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

The cost of living in Missoula is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Housing costs are a major factor in the Missoula cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 42.8% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in Missoula, these goods and services come in at 10.2% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

What Do Locals Say About the Cost of Living in Missoula?

Locals have the inside scoop on their city. So, we polled 29 residents in Missoula to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 38% find it reasonable with decreasing prices, but 62% think it's quite pricey, with prices that continue to rise.

Is Missoula Affordable?

Wondering if Missoula is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Missoula, for example, the median home price is 63.3% higher than what folks pay nationally, and monthly rent is 5.2% lower than the usual rates. Plus, income levels matter too, with Missoula boasting a median household income of $50,947, which is 7.9% lower than the national average.

What Factors can Influence the Cost of Living in Missoula?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Missoula, the baseline sales tax rate begins at 0%, and income tax rates start at 1%.

Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Missoula, healthcare costs are 7% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Missoula, the transportation index is 2.7% higher than the national average.

Where is the Data From?

The cost of living data in Missoula displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Missoula is 7% higher than the Montana average
  • The cost of living in Missoula is 9% higher than the national average
  • Missoula housing is 43% higher 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

Most Affordable Places to Live in and Around Missoula

See all the best places to live around Missoula

Compare Missoula, MT Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,005$6,667$1,867$2,400
      Renters$34,598$2,883$807$1,038
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Missoula, 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 Missoula homeowners, is $80,005. This would allow for a maximum of $1,867 per month to be spent on housing costs. For renters, the median monthly income is $34,598 which would result in a maximum of $807 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 Missoula National avg. Difference
      Haircut $15.71$24.2635.2%
      Beauty Salon $37.87$45.5616.9%
      Toothpaste $4.19$3.7013.3%
      Shampoo $1.16$1.289.2%
      Movie $12.99$12.137.1%
      Bowling $16.78$18.006.8%

      Groceries

      Item Missoula National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.59$1.571.2%
      Milk $4.55$4.672.5%
      Potatoes $4.61$4.936.5%
      Pizza $12.03$12.090.5%
      Beer $10.57$10.411.5%

      Health Care

      Item Missoula National avg. Difference
      Optometrist $105.94$125.6815.7%
      Doctor $115.67$135.7814.8%
      Dentist $112.63$113.290.6%
      Ibuprofen $10.57$10.650.7%
      Lipitor $444.64$468.605.1%

      Housing

      Item Missoula National avg. Difference
      Home Price $301,700.00$184,700.0063.3%
      Avg. Mortgage Payment $1,553.45$2,346.6933.8%
      Apartment Rent $900.00$949.005.2%

      Transportation

      Item Missoula National avg. Difference
      Gasoline $3.37$3.462.5%
      Tire Balancing $69.17$59.9215.4%

      Utilities

      Item Missoula National avg. Difference
      All Electricity $176.82$193.998.9%
      Phone $182.36$192.255.1%
      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 Population Cost of Living Index National Avg.
      Bonner-West Riverside, MT1,404955.3%
      Clinton, MT6611000.2%
      East Missoula, MT2,2141010.9%
      Lolo, MT4,0641033.5%
      Evaro, MT4011088.0%
      Missoula, MT74,9941098.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Union City, CA75,06719898.4%
      Arlington Heights, IL75,07112626.4%
      Milpitas, CA75,182212112.1%
      Missouri City, TX75,3481099.2%
      St. Joseph, MO75,3698713.3%
      Missoula, MT74,9941098.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.