Monroe 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.
IndexMonroeMichiganNational
Cost of living index8888100
IndexMonroeMichiganNational
Goods & Services index9793100
Groceries index9191100
Health care index9494100
Housing index6374100
Transportation index108103100
Utilities index10291100
The above illustration supplies generalized information for the Monroe, MI cost of living index. Compared to other cities in Michigan and cities across the country, the cost of living index in Monroe, MI is 88, which is equal to the Michigan average and 12% 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 Monroe, MI are 5% higher than the average for Michigan and 3% lower than the rest of the country.

Did you know?

  • The cost of living in Monroe is equal to the Michigan average.
  • The cost of living in Monroe is 12% lower than the national average.
  • The cost of housing in Monroe is 37% lower than the national average.
  • Michigan general sales tax is 18% higher than the national average.
  • Michigan state income tax is 91% higher than the national average.

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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
The salary calculator is used in order to provide a comparison of your current salary in Monroe, MI to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Monroe, MI, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Monroe, MI salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$58,080$4,840$1,355$1,743
Renters$25,791$2,149$602$774
One can approximate the cost of living and the housing affordability in Monroe, MI by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Monroe, MI have a median income of $58,080. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,355 per month to avoid calamity and poverty. The renters in the city have an income of about $25,791, which would make their monthly maximum allowable rental costs $602.

Michigan Sales Tax

StateGeneral Sales TaxWith Max Surtax
Michigan6%6%

Michigan Income Tax

StateIncome Tax (Low)Income Tax (High)
Michigan4.25%4.25%
One thing to keep in mind when considering the cost of living in Monroe, MI is the Michigan sales tax and Michigan income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Michigan sales tax rate is 6% and the maximum surtax that can be charged is 6%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Michigan income tax rates range from 4.25% to 4.25%.

Goods & Services

ItemMonroeNational avg.Difference
Haircut $16.23$16.090.9%
Beauty Salon $47.07$37.3326.1%
Toothpaste $2.18$2.4511.1%
Shampoo $0.80$1.0020.0%
Movie $10.62$10.283.3%
Bowling $3.44$4.9330.3%

Groceries

ItemMonroeNational avg.Difference
Ground Beef $3.71$3.802.4%
Fried Chicken $1.15$1.4017.7%
Milk $1.73$2.0114.0%
Potatoes $2.37$3.0121.4%
Pizza $10.56$9.896.9%
Beer $8.03$8.909.8%

Health Care

ItemMonroeNational avg.Difference
Optometrist $74.88$102.1626.7%
Doctor $97.01$108.3610.5%
Dentist $91.17$92.531.5%
Ibuprofen $8.27$9.2810.8%
Lipitor $430.75$425.821.2%

Housing

ItemMonroeNational avg.Difference
Home Price $105,700.00$184,700.0042.8%
Avg. Mortgage Payment $1,087.18$1,202.449.6%
Apartment Rent $734.00$949.0022.7%

Transportation

ItemMonroeNational avg.Difference
Gasoline $2.40$2.247.1%
Tire Balancing $50.88$46.299.9%

Utilities

ItemMonroeNational avg.Difference
All Electricity$150.83$165.969.1%
Phone $33.31$28.6816.1%
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.
West Monroe, MI3,35583-17%
Carleton, MI2,35285-15%
Luna Pier, MI1,39587-13%
South Monroe, MI6,25487-13%
Detroit Beach, MI2,08789-11%
Monroe, MI20,24388-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Cockeysville, MD20,24711818%
Holtsville, NY20,25813636%
Shelby, NC20,25989-11%
Selden, NY20,22613030%
Golden, CO20,26812525%
Monroe, MI20,24388-12%
Source: The Monroe, MI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.