Monroe, MI Cost Of Living
Cost Of Living In Monroe, MI Summary
Cost of living in Monroe 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 Monroe is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, 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 Monroe is 90, with 100 being the average.
The cost of living index in Monroe is 0.9x lower than the national average.
Monroe ranks as the #84 cheapest in Michigan out of 175.
Monroe ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Monroe is $134,100.
The median income in Monroe is $53,644.
Table Of Contents
Monroe's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Monroe, MI?
According to the most recent data on the cost of living, Monroe has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Michigan, Monroe has a cost of living index that's 1.0x lower than Michigan's index of 92.
The standard of living in Monroe ranks as #84 most affordable out of the 175 places we measured in Michigan. By definition, that implies Monroe ranks as the #91 most expensive place in the Wolverine State.
For more reading on life in Monroe, check out:
- Living In Monroe
- Search Homes For Sale In Monroe, MI
In Michigan
In America
Monroe Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Monroe. Here is how it fairs on each of the criteria:
The Services index in Monroe is 110.
The Groceries index in Monroe is 100.
The Health index in Monroe is 96.
The Housing index in Monroe is 62.
The Transportation index in Monroe is 109.
The Utilities index in Monroe is 98.
| Living Expense | Monroe | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 90 | 92 | 100 | |
| Services | 110 | 96 | 100 | |
| Groceries | 100 | 96 | 100 | |
| Health | 96 | 94 | 100 | |
| Housing | 62 | 80 | 100 | |
| Transportation | 109 | 97 | 100 | |
| Utilities | 98 | 100 | 100 | |
Monroe, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, 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 Monroe is $134,100.
The Median Rent in Monroe is $782.
The Median Income in Monroe is $53,644.
The Home Value To Income in Monroe is 2.5x.
The Rent To Monthly Income in Monroe is 0.17x.
| Statistic | Monroe | Michigan | United States |
|---|---|---|---|
| Median Home Value | $134,100 | $172,100 | $244,900 |
| Median Rent | $782 | $946 | $1,163 |
| Median Income | $53,644 | $63,202 | $69,021 |
| Home Value To Income | 2.5x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.18x | 0.2x |
Median Home Value
Median Rent
Median Income
Monroe, MI Costs By Category
Detailed Monroe Services Costs Vs. Michigan
Detailed Monroe Groceries Costs Vs. Michigan
Detailed Monroe Health Costs Vs. Michigan
Detailed Monroe Transportation Costs Vs. Michigan
Detailed Monroe Utilities Costs Vs. Michigan
Monroe SnackAbility
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Cost Of Living In Cities Around Monroe
The cost of living varies in the cities and towns around Monroe. Here's a quick look at the cost of living in the most populous nearby places:
Oregon, OH has a cost of living index of 90, 1.0x Monroe.
Trenton, MI has a cost of living index of 96, 1.1x Monroe.
Woodhaven, MI has a cost of living index of 96, 1.1x Monroe.
| City | Population | Cost Of Living | Vs. Monroe |
|---|---|---|---|
| Oregon, OH | 19,935 | 90 | 1.0x |
| Trenton, MI | 18,489 | 96 | 1.1x |
| Woodhaven, MI | 12,889 | 96 | 1.1x |
| Flat Rock, MI | 10,439 | 94 | 1.0x |
| Lambertville, MI | 10,049 | 94 | 1.0x |
| Temperance, MI | 8,866 | 97 | 1.1x |
| South Monroe, MI | 6,526 | 89 | 1.0x |
| Milan, MI | 6,156 | 97 | 1.1x |
