This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Montana is a wonderful state with incredible landscapes, but how is it for retirees? So, it should be easy to see by now. That allows for many different types of outdoor recreational activities. Bringing me to another point. Like anywhere you choose to live. Home brewing is expanding throughout the state as well, with kits available at many retailers. At the most popular times. Its hard to make a blanket statement. If thats how you view the world. Montana is a good place to live. You do not need heavy-duty survival supplies but enough to get you through. And keep a low profile. The population density is 2,612 per square mile. Okay. You also need to be cautious as you could come across a bear or snake at any given point in the rural area. It lessens the wear on your auto. So there you have it, the best place to retire in Montana goes to Deer Lodge. Your car battery might freeze due to the harsh winters and might not start. Finally, jobs are available. Then consider the following good things about Montana life. We are an independent, advertising-supported comparison service. And, of course, not everyone likes the sweltering summers of the Sun Belt states that populate the top of our rankings. So, you can forget about traffic congestion, crowds, or lines to deal with. Check out todays auto loan rates. Most of Yellowstone National Park is located in the border state of Wyoming. Something went wrong while submitting the form. The state also works hard to manage the deer population, which is why hunting is just part of the way of life here. This is your guide to the state and the best places to retire in Montana. Both in your home and your car. Do you still want to be able to play golf, tennis or pickleball? If you decide to call this state your home, then it is essential to remember that the active lifestyle does not stop once the snow flies. Or, heading into the backcountry. Dont miss out. You will have to deal with this issue if you are thinking of moving there, the truth is, there is nothing you can do about it. Montana is the state which is known for its natural beauty. Montana can be less expensive than states on the west coast. Since you can find a cheaper state to live in nearby. In some places, Bozeman for example, the situation is extreme. Since plenty of dangerous wildlife like to live here too. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. One of the best reasons to retire in Montana is that it's one of the most tax-friendly states for retirees in the union. The state is home to Americas most acclaimed National Parks. This means. It can be accessed by using Yellowstones north entrance. It has a wild and diverse ecosystem. On the other hand, you will find nearly 15 ski resorts to choose from. Due in large part to a relatively low cost of living, retirement is relatively affordable in Montana. In rural areas, a storm can knock out electricity. 4. Retirefearless.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. You might experience a car battery that freezes and fails to start your vehicle thanks to the weather that you can find here. Hunting and fishing are significant components of tourism. Our editors and reporters thoroughly fact-check editorial content to ensure the information youre reading is accurate. So, maybe you are a well-paid remote worker. Or, improving upward mobility for you and your family is important. Although, I must say. Home prices have shattered one record after another since the COVID pandemic began, and inflation rocked the U.S. economy in 2022. lower than Montana's .84% rate and Idaho's .91% . While the nightlife options are limited too. When youre considering a community, you have to think about what you still want to do. The pros and cons of living in Montana are very interesting. Depending on where you choose to move to in Montana. Many reports claim that you would be better off in a village than in Montana as the amount of entertainment here is limited. Then, because a lot of natural resources are readily available here. The largest freshwater lake in the lower 48 states. Because it is completely different here. Depending on the Montana lifestyle you can afford to lead. Then shop for the best mortgage rates online. If you decide to purchase a house in Montana, then you will want to learn how to live with the wildlife. On the other hand, there are also opportunities in the larger cities and towns. All part of the Rocky Mountain chain. The end of your career also raises new questions about where and how to spend your days now that youre no longer tied to a specific location. Our top 10 states for retirees shine when it comes to housing costs, state taxes, healthcare availability, and quality of living metrics. Also, the pros and cons of Montana would not be complete. When it comes to other peoples affairs. You will not be able to experience whatever is hot immediately. Most noteworthy, Montana is one of only 4 states with zero sales taxes applied to purchases. What are the benefits of retiring in Montana? WalletHub is out with a new list of best states for older Americans. The two schools with the largest enrollments. Montana is a wonderful state with incredible landscapes, but how is it for retirees? 11. In the easternmost part of the state. You will find plenty of options in this state. Because over the long run, farmland has proven to be a good investment. Go to a variety of different places that you seem to be attracted to places that have a lower cost of living and lower property taxes and test them out for a while. 18 in Bankrates affordability index. The unemployment rate in Montana is 4.1 percent, while the minimum per hour wage is $8.30. It is specifically why Montana is called Big Sky Country. And increased prices dramatically. It has a milder climate. Including grizzly bears, black bears, cougars, bobcats, wolves, and coyotes. Okay. So far we know that this state is beautiful. But overall, Id say the happiest people. You will see plenty of staged shots in movies and television because of how the mountains, valleys, and glaciers to come together in a spectacular combination. Its not very good. Resulting in traffic congestion. 6. And in the south and eastern parts of the state. Being an agricultural state, Montana has a cattle population that's three times their human population. Even your Amazon deliveries are covered! If you are the type of person who enjoys staying informed on the latest trends and experimenting with them, then living in Montana is going to require a significant adjustment. Beer is a way of life in Montana. Many residents are working outside as part of their employment as well, whether they are farmers, ranchers, or oil industry professionals. ), Experts: How to pick your best state to retire, Full results: How your state ranks for retirement, Home prices have shattered one record after another, Are you planning to retire in 2022? On the other hand, Glacier National Park is the states very own. Is Montana a good place to retire financially? You wont find yourself getting stuck in traffic. Hence, jobs can usually be found in the big cities. Winter sports are huge here in the state. But, not desiring to locate into a remote area of the state. For some, living here brings them the peace they need, while others discover exciting new opportunities to explore. Making it one of the least populated states in the country. Montana is the western state which many outdoors oriented active adults over 55 plan on retiring. Okay. According to Bankrate's study, Florida is the best state for retirement in 2022, followed by Georgia, Michigan, Ohio and Missouri. 5. And when hiking. !function(e,t,s,i){var n="InfogramEmbeds",o=e.getElementsByTagName("script"),d=o[0],r=/^http:/.test(e.location)? Bankrate looked at several public and private datasets related to the life of a retiree. Especially in the higher elevations. This makes Montana the perfect place to retire in no traffic, fewer people, no congestion what else would one want? This one is tuff to argue with too. Montana has vast reserves of precious minerals, such as silver, sapphire, and gold. Living here gives you an opportunity to be active like no other state can, who is again perhaps the exception of Wyoming and Alaska. First of all, I want to say the average cost of living in Montana is a bit of a mixed bag. That cater to the summer tourists. Montana is home to 100 mammals, excluding birds and animals. From Glacier National Park in the northern part of the state to the border of Yellowstone in the south (with 3 of the parks 5 entrances), you can choose plenty of trails when the itch to explore needs to be scratched. After people stopped wearing the beaver hat and the animals were becoming scarce, this initial effort at settlement would eventually fail. This is a big problem for those who do not consume meat. When you live in Montana, then you will discover that neighbors rely on one another to make it through the difficult times. Other times, they want to be closer to family. Should you settle down by the beach or in the mountains? But popularity brings its own set of challenges. Thus, neither I nor Dividends Diversify can be held liable for losses suffered by any party because of the information published on this website. The state topped our ranking of culture and diversity. Indeed, the best state for you to retire to, tax wise at least, will depend on many personal factors, including your level of income, your sources of income, how you spend your money, whether you . Thus, west of the mountains has a coastal climate. And like each and every state. The states population grew almost 10%. You dont need to become a doomsday prepper to manage this disadvantage, but it may be some time before you can find some help. Since many businesses and restaurants close up shop by 5 pm. Montana is the state which is known for its natural beauty. You can check your score for FREE. And fitness buffs alike. And urban sprawl. Our goal is to give you the best advice to help you make smart personal finance decisions. Having been brought up in rural and small-town community-minded environments. In Best Places Best Places to Retire in Montana on a Budget Do you know which towns are best to retire in Montana? Studio apartments in Montana average about $800 per month in rent. Breaking the speed limit is a common occurrence here. With plenty of snow. And maybe catch a glimpse of the Northern Lights if you are lucky. 2 months ago. Summers can be downright hot, unless you end up living in one of the mountain communities. There might be big skies to go explore in Montana, but there are also some challenging weather events that you will need to manage. You need to be aware of both before you decide to relocate here. Since its time for the living in Montana pros and cons for today! What are the benefits of retiring in Montana? WalletHub published a report on Monday that found the best U.S. states to retire in in 2022. . If you are thinking about moving to Montana. The downsides, however, are housing issues, animal attacks, and a lack of facilities. That can pop up anytime. When it comes to higher public education, Montana State University and Montana University are great options for individuals who have decided to. With access to world-class downhill runs. First of all, the plains open up to a stunning view of the sky. A Red Ventures company. Unless you decide to live in Helena and never want to leave, then you can forget about the idea of living in Montana without owning a vehicle. Which you can drive if you dare to. Come with a dubious side to them. This is also because Montanadoes not have a large population. If youre looking for retirement-age friends, youll have a good chance of finding them in this state where 21 percent of the population is age 65 and older. Access to medical care is another important factor. Nearly 10% below costs nationwide. One of the most significant tourism industries in Montana comes during the winter time. Lets look at another one of the positives of Montana living. And have your long-term finances in place. However, I am not a licensed investment adviser, financial counselor, real estate agent, or tax professional.