The Montana Legislative Services Division says wages remain the largest portion of income for Montana residents, representing nearly half of the state’s personal income. Over the past 75 years, however, the growth of wages has been outpaced by investment income in relative terms.
As of 2025, wages represented 47.9% of Montana income, compared to 58.8% of Montana income in 1980, according to data from the U.S. Bureau of Economic Analysis. By comparison, wages represented 55.9% of income nationally in 2025.
Investments producing dividends, interest, and rent represented 24.6% of Montana income in 2025, higher than the national figure of 18.9%. Income from the ownership of unincorporated businesses, including farms, represented an additional 9.3% of Montana income.
