Hot Springs, MT is a great place to live for those looking to save money on rent and groceries. The average two bedroom rent in Hot Springs is $840, compared to the US average of $1,430; similarly, the grocery cost index in Hot Springs is 96 versus 100 in the US. This means that families living in Hot Springs can pay substantially less than those living elsewhere. To further reduce costs, there are several local companies that can help people save money. For example, Summit Savings Bank offers competitive savings account rates so that residents can make the most of their income and reduce spending overall. Additionally, Smart Choice Realty helps renters find affordable housing with their extensive selection of rental listings throughout Hot Springs and its surrounding areas. Finally, Grocers Co-op helps shoppers get the best deals on their groceries through their membership program which allows customers to take advantage of exclusive discounts on products from local vendors. With these resources available, Hot Springs proves to be an excellent choice for those looking to save money while still enjoying all the amenities this charming town has to offer.
Hot Springs has an unemployment rate of 6.4%. The US average is 6.0%.
Hot Springs has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Hot Springs
- The Sales Tax Rate for Hot Springs is 0.0%. The US average is 7.3%.
- The Income Tax Rate for Hot Springs is 6.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hot Springs
- The average income of a Hot Springs resident is $16,158 a year. The US average is $28,555 a year.
- The Median household income of a Hot Springs resident is $19,659 a year. The US average is $69,021 a year.