Montpelier, Idaho is a small city with a population of just over 5,000 people. With its rural charm, proximity to nature and small-town feel, Montpelier has much to offer its residents. The cost of living in Montpelier is lower than the US average in many aspects. For example, rental costs for two-bedroom apartments are only $810 per month in Montpelier compared to the US average of $1,430 per month. Additionally, the Grocery Cost Index in Montpelier is 91 compared to 100 in the US. This far lower index indicates that groceries are much cheaper on average in Montpelier when compared to stores nationwide. Popular local businesses include Bear Lake Pizza & Ice Cream Parlor, Unplugged Gifts & Cafe and Cedar Mountain Floral & Gifts. All these factors make Montpelier an ideal home for those looking for a budget-friendly lifestyle.
Montpelier has an unemployment rate of 3.3%. The US average is 6.0%.
Montpelier has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 31.6%, which is lower than the US average of 33.5%.
Tax Rates for Montpelier
- The Sales Tax Rate for Montpelier is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Montpelier is 7.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Montpelier
- The average income of a Montpelier resident is $17,970 a year. The US average is $28,555 a year.
- The Median household income of a Montpelier resident is $46,786 a year. The US average is $69,021 a year.