It's important to plan for retirement and consider where you will spend your golden years. There are many places you can choose from. Each one has its advantages and disadvantages. This article will help you if you are thinking about retiring in Montana. This article will share the many benefits of retiring to Montana as well as the top ten places in Montana where you can retire.
Montana is a good place to retire?
Montana is a great place for retirement. First, Montana offers many financial benefits. It has a lot of small towns with low living costs. While the average cost of housing in Montana is higher than the national average for the average person, many small towns in the state are much more affordable. Montana residents have a lower tax burden. Montana has no sales tax, and there are no taxes on Social Security or pension payments.
However, Montana's financial advantages are not the only reason to retire in Montana. There are many other benefits that the state offers. While Montana is home to some large cities, the state is also home to many small towns that have large senior populations. It's easy to build a community in Montana.
Montana is home to beautiful scenery and many outdoor recreation opportunities. Glacier National Park is located here. There are seven national forests and great hiking, boating and fishing. Montana is a beautiful and peaceful place to retire, even if you don’t like spending time in the outdoors but still enjoy looking at it.
Montana's 10 Best Places for Retirement
1. Deer Lodge
- Population: 2,904
- % of the Population 65 Years and Older:6%
- Median House Value: $223.804
- Living Costs (Compared to State Average): 10% Lower
- Healthcare Cost (Compared to State Average): 4 Percent Lower
- Crime Rate (Compared with the State Average: 77% Lower
- Amenities Score B
Deer Lodge, a small Montana town is located in Powell County. It is located in the west part of the state. It is a meadowland, with mountain ranges on its western and eastern sides. Deer Lodge is well-known for its rich history. It is home to the most museums and collections in the area. The 1,500-acre Grant-Kohrs ranch National Historic Site is also located in Deer Lodge.
Deer Lodge offers many benefits for retired people. The city has a large senior population. More than half of its residents are over 65. The state average is lower for housing, healthcare, and overall living costs. Deer Lodge also has a low crime rate.
2. Glasgow
- Population: 3,332
- % of the Population 65 and Older: 222%
- Median House Value: $245.176
- Living Costs (Compared to State Averages): 10% Lower
- Healthcare Cost (Compared to State Average): 33% Higher
- Crime Rate (Compared with the State Average: 35% Lower
- Amenities Score B
Glasgow is located in Montana's northeast corner in Valley County. Although it is small, Glasgow is the largest city in the state. Glasgow is close to the Charles M. Russell National Wildlife Refuge which is home many species of animals.
Glasgow is a great place to live. Although healthcare costs are slightly higher than the average for the state, housing costs and overall costs of living are significantly lower than the national and state averages. The state also has a low rate of crime and a large senior population.
3. Libby
- Population: 2,758
- % of the Population 65 and Older: 222%
- Median House Value: $281.209
- Living Costs (Compared to State Average): 8.
- Healthcare Cost (Compared to State Average): 17% Higher
- Crime Rate (Compared with the State Average: 27% Lower
- Amenities Score B
Libby, a small town in northwest Montana, is the county seat for Lincoln County. It is located at the intersection of Libby Creek, the Kootenay River, and home to the famous Kootenai falls. Libby is most well-known for its role in the worst man-made environmental catastrophes in the United States. Many of its residents were killed by toxic asbestos dust. Libby is now safe to live.
Libby offers affordable housing and a cost of living that is significantly lower than the national average. The city also has a low rate of crime and a large senior population.
4. Lewistown
- Population: 6,048
- % of the Population 65 and Older: 26
- Median House Value: $247.801
- Living Costs (Compared to State Average): 14% Lower
- Healthcare Cost (Compared to State Average): 33% Higher
- Crime Rate (Compared to the State Average: 57% Lower
- Amenities Score C+
Lewistown is located in central Montana's Fergus County. Although it is an agricultural community it is surrounded by mountains and an intersection with waterways making it an ideal place for fishing, hiking and other outdoor recreation. You'll find five mountain ranges within a short distance, creating a beautiful landscape for the town.
Lewistown offers affordable housing and a low cost-of-living. The city also has a high senior population with more than one quarter of its residents being 65 years old or older. The crime rate in Lewistown is significantly lower than the average for the state.
5. Glendive
- Population: 5,030
- % of the Population 65 and Older: 21
- Median House Value: $22,892
- Living Costs (Compared to the State Average: 2% Lower
- Healthcare Cost (Compared to State Average): 13% Higher
- Crime Rate (Compared with the State Average: 72% Lower
- Amenities Score B+
Glendive, Montana's easternmost city, is located in Dawson County. The Northern Pacific Railway originally founded the city as a railroad station. It is well-known for its outdoor recreation. It is home to the Yellowstone River, which runs through the city. There are many parks along the lakefront. Glendive Dinosaur and Fossil Museum are also located in the city. They have many bones from dinosaurs that were discovered there.
Glendive is home to a large senior population as well as a low crime rate. The overall cost of living and housing costs are also lower than the national average. You can buy a Glendive home for half of the state's median price.
6. Conrad
- Population: 2,624
- % of the Population 65 and Older: 222%
- Median House Value: $209 688
- Living Costs (Compared to State Average): 13% Lower
- Healthcare Cost (Compared to State Average): 33% Higher
- Crime Rate (Compared with the State Average: 54% Lower
- Amenities Score C+
Conrad is located in northern Montana's Pondera County. Conrad is an agricultural community. The city's economy relies heavily on farming. Conrad Transportation and Historical Museum are also located in the city. It is also known for its outdoor recreation including parks and ski areas.
Conrad is a great place to live out your retirement years. Conrad has affordable housing and a much lower overall cost of living than the average state. The city has a low rate of crime and a large senior population.
7. Hamilton
- Population: 4,827
- % of the Population 65 and Older:31%
- Median House Value: $523.182
- Living Costs (Compared to State Averages): 2% Lower
- Healthcare Cost (Compared to State Average): 4 Percent Lower
- Crime Rate (Compared with the State Average: 27% Higher)
- Amenities Score A+
Hamilton is located in the westernmost part of the state in Ravalli County. It is the largest community in Bitterroot Valley. It overlooks the Bitterroot Mountains and the Swan Mountains. It is home to thousands of tourists every year, thanks to its outdoor recreation and hiking. It also has a rich history. You can visit Daly Mansion, where Marcus Daly, founder of Hamilton, lived.
Hamilton's healthcare costs and overall cost of living are slightly lower than the state average. However, the average home price is quite high. The city also has a higher rate of crime than the national average. Despite this, almost one-third the city's residents over 65 are here, and there are many amenities for retirees.
8. Billings
- Population: 117,445
- % of the Population 65 Years and Older:3%
- Median House Value: $365,000.
- Living Cost (Compared to State Average): 33% Higher
- Healthcare Cost (Compared to State Average): 4 Percent Lower
- Crime Rate (Compared with the State Average: 117% Higher)
- Amenities Score A+
Billings, Montana's largest city, is home to more than 100,000 people. It is located in the south of the state. Billings is located along the Yellowstone River. It houses the Yellowstone County Museum and the Yellowstone Art Museum. Billings is famous for its Rimrocks geological sandstone formations. Billings is well-known for its outdoor recreation. You'll find it surrounded by many state and local parks, as well as a zoo and all the activities that the Yellowstone River offers.
Although Billings' overall cost of living is higher than the average for the state, it still provides affordable housing and health care. It has a higher than average crime rate and a lower senior population, but it offers many amenities for residents and visitors.
9. Bozeman
- Population: 54,539
- % of the Population 65 Years and Older:2%
- Median House Value: $679.831
- Living Costs (Compared to State Averages): 13% Higher
- Healthcare Cost (Compared to State Average): 4 Percent Lower
- Crime Rate (Compared with the State Average: 36% Lower
- Amenities Score A+
Bozeman, Montana is a city in the Rocky Mountains region of Montana. The Museum of the Rockies is located in this area. It displays the region's rich history. There are many mountains close by, including Bridger Ridge or the Spanish Peaks. This area is well-known for its outdoor recreation and hiking. You are also just two hours from Yellowstone National Park. Bozeman is known for its ease of living. The city offers many activities and sights, in addition to outdoor recreation.
Bozeman is a popular place to live and visit because of its high cost of living. The median housing cost in Bozeman is $200,000 more than the average for the state. The city has low healthcare costs and offers many amenities. It is also home to a low crime rate despite its popularity.
10. Whitefish
- Population: 8,492
- % of the Population 65 Years and Older: 20
- Median House Value: $1.018,038
- Living Cost (Compared to State Average): 20% Higher
- Healthcare Cost (Compared to State Average): 17% Lower
- Crime Rate (Compared with the State Average: 54% Higher)
- Amenities Score A+
Whitefish, Montana is a resort community in the Rocky Mountains. It's located in the northwest corner of Montana. It is located just outside Glacier National Park so many people pass through it every year to visit the park. Whitefish also has Whitefish Mountain Resort, Whitefish Lake and Whitefish Beach, where you can enjoy fishing, boating and other activities. It also boasts the Whitefish River, which shapes the town's landscape.
Whitefish is a great place to live in Montana. Whitefish has a median home price of more than $1million and a cost of living that is 20% higher than the average for the state. It has low healthcare costs and a large senior population. There are many amenities for its residents.
Next steps for you
Montana offers many benefits to its residents. These include low taxes and a low cost-of-living. There are also plenty of outdoor recreation. The city where you will live is not the only thing that you should consider when you plan for retirement. You should also ensure that your finances are in order. The Personal Capital Retirement Planner will help you achieve your retirement goals. It will show you if you are on track to retirement and how much you should be saving each month to retire on-time.
Get started with the Personal Capital Retirement Planner
The author is not a client at Personal Capital Advisors Corporation. He is paid as a freelancer.
This blog post contains general information and is not intended to be legal, tax, or accounting advice. No compensation exceeding $500. For your particular situation, you should speak to a qualified tax or legal professional. Remember that investing comes with risk. Your investment's value will fluctuate over time. You may lose or gain money. Personal Capital Advisors Corporation is a subsidiary owned by Personal Capital. Any reference to advisory services means that Personal Capital Advisors Corporation is referring to them. Personal Capital Advisors Corporation (SEC) is an investment advisor registered with the Securities and Exchange Commission. Registering does not imply any specific skill or training, nor does it imply endorsement of the SEC.
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By: Erin Gobler
Title: 10 Best Places to Retire in Montana in 2023
Sourced From: www.personalcapital.com/blog/retirement-planning/best-places-to-retire-in-montana/
Published Date: Fri, 16 Sep 2022 22:34:24 +0000
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