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Idaho Yearly Expenses by Quarter
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US-174-AZ
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FAQ
The national average was 7%. Idaho's cost of living isn't low. The World Population Review for 2020 ranks 18 states as cheaper to live in than Idaho. It figures Idaho's cost of living as 92.3% of the national average.
The national average was 7%. Idaho's cost of living isn't low. The World Population Review for 2020 ranks 18 states as cheaper to live in than Idaho. It figures Idaho's cost of living as 92.3% of the national average.
Rent is also affordable and costs around $669 per month, which is $184 less than the state average. What is a livable wage in Idaho? According to MIT, a single person living in Idaho needs to make at least $29,007 to be able to afford all of their bills.
Lower Cost of Living Unlike California, Idaho has one of the lowest costs of living. Basic needs like food, clothing, and shelter are extremely affordable and readily available. Besides, the cost of buying a house is cheaper than expected. No wonder, many Californians are making the move to the Gem State in droves.
Although Idaho's median home price of $170,200 is the highest of the five states on this list by a wide margin, residents enjoy low expenses in other areas. For example, Idaho has below-average real estate, income, and sales taxes, and its grocery and utility costs are among the cheapest.
What is a livable wage in Idaho? According to MIT, a single person living in Idaho needs to make at least $29,007 to be able to afford all of their bills. An average family with two kids and two working adults requires a much higher income of $80,158 per year to cover their expenses.
Additionally, California's property taxes tend to be higher than Idaho's, as well as Gasoline, Diesel, and Cigarette taxes. Idaho also boasts lower taxes than 20 other states. The crime rate in Idaho is the lowest in the West.
Idaho is one of the more affordable states in the country, offering low prices on real estate, sales, and income taxes, as well as low utility and grocery costs. Despite having a lower cost of living, the state's median income is $55,583 for a household, which falls slightly below the national average.
Cost of Living in Idaho is much cheaper than California. Houses, Energy, Food, and just about everything else is far more affordable for Idahoans.
