Cost of Living in Monmouth, IL

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16%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
52%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Monmouth Illinois National
Cost of living8498100
Groceries100100100
Health care99100100
Housing4895100
Transportation101101100
Utilities9799100
Lifestyle & Entertainment96100100
Household Items102100100
Education & Childcare100100100
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Homes For Sale In Monmouth, IL

property for sale

4 Fairway Dr

Monmouth, IL
property for sale

646 US Highway 34

Monmouth, IL
property for sale

917 W 6th Ave

Monmouth, IL
property for sale

204 W Clinton Ave

Monmouth, IL
See the Newest Homes For Sale In Monmouth, IL

Cost Of Living Quick Facts

  • The cost of living in Monmouth is 15% lower than the Illinois average
  • The cost of living in Monmouth is 16% lower than the national average
  • Monmouth housing is 52% lower than the national average
  • Illinois general sales tax is 22% higher than the national average
  • Illinois state income tax is 91% higher than the national average

Most Affordable Places to Live in and Around Monmouth

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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
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$93,736$7,811$2,187$2,812
      Renters$47,462$3,955$1,107$1,424
      A good indicator of the general affordability of housing in Monmouth, IL, 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, the median monthly income is $93,736 for those who own their own homes. Under the standard rule, that income level would allow for $2,187 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $47,462, per the median income in the area. That would allow for renters to spend up to $1,107 on monthly rental expenses.

      Illinois Sales Tax

      State General Sales Tax With Max Surtax
      Illinois 6.25% 10.25%

      Illinois Income Tax

      State Income Tax (Low) Income Tax (High)
      Illinois 4.95% 4.95%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      St. Augustine, IL1387921.4%
      Seaton, IL2878118.6%
      North Henderson, IL2458217.7%
      Abingdon, IL3,6738317.1%
      Kirkwood, IL7598316.9%
      Monmouth, IL9,0668416.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Smithville, NJ9,06711010.2%
      Miramar Beach, FL9,07213333.0%
      Champlain, ON9,072n/a 
      Pulaski, VA9,058927.8%
      Cortez, CO9,056954.6%
      Monmouth, IL9,0668416.2%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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