Monmouth cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Cost of living index7898100
Goods & Services index8897100
Groceries index8897100
Health care index95100100
Housing index4999100
Transportation index89104100
Utilities index9995100
The above illustration supplies generalized information for the Monmouth, IL cost of living index. Compared to other cities in Illinois and cities across the country, the cost of living index in Monmouth, IL is 78, which is 21% lower than the Illinois average and 22% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Monmouth, IL are 9% lower than the average for Illinois and 12% lower than the rest of the country.

Did you know?

  • The cost of living in Monmouth is 21% lower than the Illinois average.
  • The cost of living in Monmouth is 22% lower than the national average.
  • The cost of housing in Monmouth is 51% lower than the national average.
  • Illinois general sales tax is 23% higher than the national average.
  • Illinois state income tax is 69% higher than the national average.

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Compare Monmouth, IL Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Monmouth, IL to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Monmouth, IL, you have to earn a higher income in order to still have the same standard of living. To operate the Monmouth, IL salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Monmouth, IL, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Monmouth, IL, the median monthly income is $48,586 for those who own their own homes. Under the standard rule, that income level would allow for $1,134 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $19,540, per the median income in the area. That would allow for renters to spend up to $456 on monthly rental expenses.

Illinois Sales Tax

StateGeneral Sales TaxWith Max Surtax

Illinois Income Tax

StateIncome Tax (Low)Income Tax (High)
When assessing the complete cost of living in Monmouth, IL, the Illinois income tax and the Illinois sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Illinois maximum surtax is 9.75%, and the Illinois sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.75% to 3.75% in Illinois.

Goods & Services

ItemMonmouthNational avg.Difference
Haircut $7.00$15.5655.0%
Beauty Salon $24.00$36.1133.5%
Toothpaste $2.33$2.475.8%
Shampoo $0.96$0.960.9%
Movie $8.67$10.1314.4%
Bowling $4.00$4.7415.5%


ItemMonmouthNational avg.Difference
Ground Beef $3.81$3.984.4%
Fried Chicken $1.57$1.4111.3%
Milk $2.00$2.062.9%
Potatoes $2.33$2.9821.8%
Pizza $9.66$9.472.0%
Beer $8.24$8.796.3%

Health Care

ItemMonmouthNational avg.Difference
Optometrist $78.00$101.0422.8%
Doctor $121.00$107.4412.6%
Dentist $69.00$90.4223.7%
Ibuprofen $10.69$9.2815.2%
Lipitor $436.12$426.502.3%


ItemMonmouthNational avg.Difference
Home Price $75,600.00$175,700.0057.0%
Avg. Mortgage Payment $820.13$1,133.2327.6%
Apartment Rent $586.00$920.0036.3%


ItemMonmouthNational avg.Difference
Gasoline $1.87$1.996.4%
Tire Balancing $36.00$45.7621.3%


ItemMonmouthNational avg.Difference
All Electricity$172.61$163.815.4%
Phone $26.00$28.398.4%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
St. Augustine, IL11771-29%
Media, IL12673-27%
Seaton, IL24674-26%
North Henderson, IL20181-19%
Biggsville, IL27377-23%
Monmouth, IL9,56578-22%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lake Mohawk, NJ9,56812727%
Steger, IL9,56990-10%
Pine Ridge, FL9,5691077%
Winslow, AZ9,57090-10%
Dunn, NC9,57090-10%
Monmouth, IL9,56578-22%
Source: The Monmouth, IL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.