Lockwood, MT Cost Of Living
Cost Of Living In Lockwood, MT Summary
Cost of living in Lockwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lockwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Montana, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lockwood is 96, with 100 being the average.
The cost of living index in Lockwood is 1.0x lower than the national average.
Lockwood ranks as the #13 cheapest in Montana out of 23.
Lockwood ranks as the #2,601 cheapest out of 6,412 in the US.
The median home value in Lockwood is $204,000.
The median income in Lockwood is $65,824.
Table Of Contents
Lockwood's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lockwood, MT?
According to the most recent data on the cost of living, Lockwood has an overall cost of living index of 96, which is 1.0x lower than the national index of 100.
Compared to Montana, Lockwood has a cost of living index that's 0.9x lower than Montana's index of 103.
The standard of living in Lockwood ranks as #13 most affordable out of the 23 places we measured in Montana. By definition, that implies Lockwood ranks as the #10 most expensive place in the Treasure State.
For more reading on life in Lockwood, check out:
- Living In Lockwood
- Search Homes For Sale In Lockwood, MT
In Montana
In America
Lockwood Cost Of Living Vs. Montana
Six factors go into calculating the cost of living index in Lockwood. Here is how it fairs on each of the criteria:
The Services index in Lockwood is 106.
The Groceries index in Lockwood is 99.
The Health index in Lockwood is 96.
The Housing index in Lockwood is 92.
The Transportation index in Lockwood is 91.
The Utilities index in Lockwood is 89.
| Living Expense | Lockwood | Montana | National Average | |
|---|---|---|---|---|
| Overall | 96 | 103 | 100 | |
| Services | 106 | 102 | 100 | |
| Groceries | 99 | 101 | 100 | |
| Health | 96 | 98 | 100 | |
| Housing | 92 | 107 | 100 | |
| Transportation | 91 | 111 | 100 | |
| Utilities | 89 | 89 | 100 | |
Lockwood, MT Housing Cost Breakdown
Housing swings affordability the most between places in Montana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lockwood is $204,000.
The Median Rent in Lockwood is $932.
The Median Income in Lockwood is $65,824.
The Home Value To Income in Lockwood is 3.1x.
The Rent To Monthly Income in Lockwood is 0.17x.
| Statistic | Lockwood | Montana | United States |
|---|---|---|---|
| Median Home Value | $204,000 | $263,700 | $244,900 |
| Median Rent | $932 | $886 | $1,163 |
| Median Income | $65,824 | $60,560 | $69,021 |
| Home Value To Income | 3.1x | 4.4x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Lockwood, MT Costs By Category
Detailed Lockwood Services Costs Vs. Montana
Detailed Lockwood Groceries Costs Vs. Montana
Detailed Lockwood Health Costs Vs. Montana
Detailed Lockwood Transportation Costs Vs. Montana
Detailed Lockwood Utilities Costs Vs. Montana
Lockwood SnackAbility
/10
Cost Of Living In Cities Around Lockwood
The cost of living varies in the cities and towns around Lockwood. Here's a quick look at the cost of living in the most populous nearby places:
Billings, MT has a cost of living index of 101, 1.1x Lockwood.
Laurel, MT has a cost of living index of 94, 1.0x Lockwood.
| City | Population | Cost Of Living | Vs. Lockwood |
|---|---|---|---|
| Billings, MT | 115,689 | 101 | 1.1x |
| Laurel, MT | 7,164 | 94 | 1.0x |
