Monticello, KY Cost Of Living
Cost Of Living In Monticello, KY Summary
Cost of living in Monticello 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 Monticello is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Kentucky, 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 Monticello is 74, with 100 being the average.
The cost of living index in Monticello is 0.7x lower than the national average.
Monticello ranks as the #1 cheapest in Kentucky out of 85.
Monticello ranks as the #23 cheapest out of 6,412 in the US.
The median home value in Monticello is $112,800.
The median income in Monticello is $40,477.
Table Of Contents
Monticello's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Monticello, KY?
According to the most recent data on the cost of living, Monticello has an overall cost of living index of 74, which is 0.7x lower than the national index of 100.
Compared to Kentucky, Monticello has a cost of living index that's 0.8x lower than Kentucky's index of 94.
The standard of living in Monticello ranks as #1 most affordable out of the 85 places we measured in Kentucky. By definition, that implies Monticello ranks as the #84 most expensive place in the Bluegrass State.
For more reading on life in Monticello, check out:
- Living In Monticello
- Monticello Crime Report
- Search Homes For Sale In Monticello, KY
In Kentucky
In America
Monticello Cost Of Living Vs. Kentucky
Six factors go into calculating the cost of living index in Monticello. Here is how it fairs on each of the criteria:
The Services index in Monticello is 87.
The Groceries index in Monticello is 86.
The Health index in Monticello is 91.
The Housing index in Monticello is 45.
The Transportation index in Monticello is 89.
The Utilities index in Monticello is 93.
| Living Expense | Monticello | Kentucky | National Average | |
|---|---|---|---|---|
| Overall | 74 | 94 | 100 | |
| Services | 87 | 105 | 100 | |
| Groceries | 86 | 97 | 100 | |
| Health | 91 | 79 | 100 | |
| Housing | 45 | 75 | 100 | |
| Transportation | 89 | 102 | 100 | |
| Utilities | 93 | 106 | 100 | |
Monticello, KY Housing Cost Breakdown
Housing swings affordability the most between places in Kentucky, 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 Monticello is $112,800.
The Median Rent in Monticello is $616.
The Median Income in Monticello is $40,477.
The Home Value To Income in Monticello is 2.8x.
The Rent To Monthly Income in Monticello is 0.18x.
| Statistic | Monticello | Kentucky | United States |
|---|---|---|---|
| Median Home Value | $112,800 | $155,100 | $244,900 |
| Median Rent | $616 | $826 | $1,163 |
| Median Income | $40,477 | $55,454 | $69,021 |
| Home Value To Income | 2.8x | 2.8x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Monticello, KY Costs By Category
Detailed Monticello Services Costs Vs. Kentucky
| Item | Monticello | Kentucky |
|---|---|---|
| Shampoo | $0.84 | $1.06 |
| Movie | $10.22 | $10.68 |
| Bowling | $18.67 | $14.67 |
| Haircut | $14.73 | $18.62 |
| Beauty Salon | $37.6 | $39.05 |
Detailed Monticello Groceries Costs Vs. Kentucky
| Item | Monticello | Kentucky |
|---|---|---|
| Ground Beef | $4.41 | $4.22 |
| Fried Chicken | $0.99 | $1.39 |
| Milk | $1.85 | $2.05 |
| Potatoes | $2.88 | $3.29 |
| Pizza | $9.99 | $10.62 |
| Beer | $9.75 | $9.38 |
| Toothpaste | $1.5 | $2.34 |
Detailed Monticello Health Costs Vs. Kentucky
| Item | Monticello | Kentucky |
|---|---|---|
| Optometrist | $88.0 | $108.57 |
| Doctor | $105.73 | $116.17 |
| Dentist | $88.77 | $99.13 |
Detailed Monticello Transportation Costs Vs. Kentucky
| Item | Monticello | Kentucky |
|---|---|---|
| Gasoline | $2.06 | $2.22 |
| Tire Balancing | $36.44 | $50.07 |
Detailed Monticello Utilities Costs Vs. Kentucky
| Item | Monticello | Kentucky |
|---|---|---|
| All Electricity | $149.12 | $167.67 |
| Phone | $184.96 | $175.64 |
Monticello SnackAbility
/10
Cost Of Living In Cities Around Monticello
The cost of living varies in the cities and towns around Monticello. Here's a quick look at the cost of living in the most populous nearby places:
Somerset, KY has a cost of living index of 85, 1.1x Monticello.
Campbellsville, KY has a cost of living index of 88, 1.2x Monticello.
Corbin, KY has a cost of living index of 80, 1.1x Monticello.
| City | Population | Cost Of Living | Vs. Monticello |
|---|---|---|---|
| Somerset, KY | 11,696 | 85 | 1.1x |
| Campbellsville, KY | 11,345 | 88 | 1.2x |
| Corbin, KY | 8,397 | 80 | 1.1x |
| London, KY | 7,492 | 88 | 1.2x |
| Williamsburg, KY | 5,272 | 75 | 1.0x |
