The Surprising Hourly Wage You Need To Pay Rent In Montana

This Is The Hourly Wage You Need To Afford Rent In Montana

Now that the election is over, it's very clear that the economy was the main deciding factor when choosing the new president.

It remains to be seen if the new administration will look to increase the minimum wage, which hasn't seen an increase since 2009, the longest stretch between raises in its history.

How Much Is Minimum Wage In Montana?

Montana is actually doing better than some states when it comes to the minimum wage, which is $7.25 nationally, but here it's currently $10.30.

Compare that to places near us like Idaho, Wyoming, and North Dakota, which all are at the federal level.

While our minimum wage is higher than average, it's still not enough to pay for rent while working a full 40-hour work week.

 How Much Is Rent In Montana?

So by utilizing the website National Low Income Housing Coalition and using the financial advice that you should spend 30% of your income on housing, a fair affordable house price for 1-bedroom housing would be $535.

Unfortunately, the average cost of 1-bedroom housing across Montana is $888, which means if being paid minimum wage, you'd have to work 64 hours a week to afford it.

So what about families that need extra bedrooms? Well, 2-bedroom housing in Montana will cost you on average $1,114. To make that affordable, you need to make $20.73 an hour.

If you are renting that same 2-bedroom but only making minimum wage, you'd need to work 81 hours a week.

Of course this is only the state average; take a look in the gallery to see how much you'd have to make per hour in certain cities across the Big Sky.