Cost of Living in Laurel, MT
Population 7,198 · Montana · Data vintage 2023
(100 = US avg)
Laurel is a smaller Montana community of around 7000 residents, where median household incomes of $66,382 and housing costs ($233,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. An unemployment rate of 2.1% points to a labor market well on the tight side of the national distribution.
Laurel sits roughly 13 miles southwest of Billings — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 25% lower than Billings' $312,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Laurel
The median home value in Laurel is $232,700 — 24% below the national median of $305,000. Median rent runs $953/month, 27% lower than the national median of $1,314/month. The median household income of $66,382/year is 11% lower than the US median of $74,580. The local unemployment rate is 2.1%, below the national average of 4.8%. Montana's top state income tax rate is 6.8% and the combined sales tax is 0.0%. The climate averages highs of 59.4°F and lows of 37.0°F, with about 57.4" of annual snowfall. Overall, Laurel has a cost of living index of 75 versus the US average of 100, meaning it is 25% less expensive.
Laurel has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 36 | 39 | 49 | 57 | 67 | 77 | 87 | 86 | 74 | 59 | 46 | 36 |
| Low °F | 18 | 20 | 27 | 35 | 44 | 52 | 59 | 58 | 49 | 37 | 27 | 19 |
| Precip" | 0.55 | 0.57 | 0.90 | 1.72 | 2.36 | 2.22 | 1.22 | 0.87 | 1.36 | 1.37 | 0.60 | 0.57 |
| Snow" | 10.6 | 9.1 | 8.2 | 7.5 | 0.9 | 0.0 | 0.0 | 0.0 | 0.3 | 4.5 | 6.5 | 9.8 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Laurel, MT?
Laurel has a cost index of 75 (100 = national average). It is 25% below the national average.
What is average rent in Laurel, MT?
The median gross rent in Laurel is $953 per month based on 2023 Census data.
What is the average home price in Laurel?
The median home value in Laurel is $232,700 according to Zillow and Census data.
What is the median income in Laurel?
The median household income in Laurel is $66,382 per year (2023 ACS 5-year estimates).
What is the sales tax in Laurel, MT?
The combined state and local sales tax rate in Laurel is 0.0%. The Montana state income tax top rate is 6.8%.
Is Laurel, MT affordable?
Yes, Laurel is generally considered affordable, with a cost of living index of 75 — about 25% below the US national average of 100.
What is the weather like in Laurel?
Laurel has average high temperatures of 59.4°F and average lows of 37.0°F. Annual precipitation is 14.3". Average annual snowfall is 57.4". Data from NOAA 1991–2020 Climate Normals.
Laurel at a Glance
- Population
- 7,198
- Median Income
- $66,382
- Home Value
- $232,700
- Median Rent
- $953/mo
- Unemployment
- 2.1%
- Avg High Temp
- 59.4°F
- Sales Tax
- 0.0%
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Montana Rankings
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