| Index | Lake Monticello | Virginia | National |
| Cost of living | 114 | 111 | 100 |
| Groceries | 104 | 103 | 100 |
| Health care | 104 | 103 | 100 |
| Housing | 136 | 129 | 100 |
| Transportation | 103 | 105 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 101 | 103 | 100 |
| Household Items | 104 | 102 | 100 |
| Education & Childcare | 106 | 109 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Lake Monticello? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lake Monticello stands at 114, making it 14% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Housing costs are a very significant part of the Lake Monticello cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 36.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Wondering if Lake Monticello is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Lake Monticello, for example, the median home price is 28% higher than what folks pay nationally, and monthly rent is 55.7% higher than the usual rates. Plus, income levels matter too, with Lake Monticello boasting a median household income of $120,173, which is 47.8% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Lake Monticello, healthcare costs are 3.6% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Lake Monticello, the housing index comes in at 36.4% higher than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Lake Monticello, the utilities index is 6.2% higher than the national average.
The Lake Monticello cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $125,568 | $10,464 | $2,930 | $3,767 |
| Renters | $71,751 | $5,979 | $1,674 | $2,153 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Palmyra, VA | 95 | 104 | 4.0% |
| Esmont, VA | 755 | 104 | 3.6% |
| Gordonsville, VA | 2,040 | 104 | 3.7% |
| Columbia, VA | 105 | 104 | 3.8% |
| Scottsville, VA | 570 | 108 | 8.5% |
| Lake Monticello, VA | 10,739 | 114 | 13.7% |
| City | Population | Cost of Living Index | National Avg. |
| Sedona, AZ | 10,738 | 140 | 40.1% |
| Cambridge, OH | 10,738 | 85 | 15.0% |
| Celina, OH | 10,741 | 88 | 11.9% |
| Sainte-Julienne, QC | 10,741 | n/a | |
| Kearney, MO | 10,736 | 101 | 0.7% |
| Lake Monticello, VA | 10,739 | 114 | 13.7% |
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