Here we can see a simple outline of the cost of living in Lake Monticello, VA. As you can see, with the average cost of living in Lake Monticello, VA being 113, that puts it 5% higher than the average of Virginia and 13% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Lake Monticello, VA, the price of goods and services are 17% higher than the average of Virginia as well as 16% higher than the nation's average.