How Much Money Single People Need For Survival In Montana
What's The Salary Needed To Survive In Montana For A Single Person?
How long ago was it when you moved out own your own? 5 years, 10 years, 30 years, even longer?
Unless you moved out just a couple years ago you might not realize just how much the cost to live on your own, and the cost to rent a place has gone up.
When I moved to Montana, it was the first time I was going to be living on my own.
Prior to that, I had lived in college dorm rooms or had roommates to help split the cost of living.
Before I found a place to live, my parents and I sat down, looked at how much I was going to be making, and put together a budget to see just how much I could afford to spend on housing.
What's Median Cost Of Rent In Montana?
My first apartment back in 2000 was a 1 bedroom 1 bath that cost me $350.
Today, looking at Zillow, that same 1 bedroom 1 bath apartment would cost me $830.
When looking at the median rent price in Montana for all bedrooms and all property types you can expect to pay $1,918.
What's Median Cost Of Rent In Montana 5 Biggest Cities?
Taking a look at the cost of all bedrooms and all property types across the top 5 biggest cities in Montana we see the following stats.
- Billings - $1,425
- Missoula - $1,650
- Great Falls - $1,225
- Bozeman - $2,500
- Butte - $1,200
The website GoBankingRates has broken down how much a single person in every state would need to make to afford living on their own.
They have gone with a 50/30/20 split. 50% for rent, 30% for non-discretionary spending, and 20% toward savings and investments.
The salary amount is quite shocking for not only Montana, but also for the states surrounding us, which you can see in the gallery below. 👇