Monroe, Georgia Cost Of Living

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Overall 7%

Goods & Services 8%

Housing 33%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Monroe	Georgia	National
Cost of living	93	94	100
Goods & Services	108	97	100
Groceries	104	99	100
Health care	109	97	100
Housing	67	86	100
Transportation	108	97	100
Utilities	86	93	100

Key findings

The cost of living in Monroe is 1% lower than the Georgia average
The cost of living in Monroe is 7% lower than the national average
Monroe housing is 33% lower than the national average
Georgia general sales tax is 21% lower than the national average
Georgia state income tax is 59% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$51,281	$4,273	$1,196	$1,539
Renters	$27,834	$2,320	$649	$835

To approximate the cost of living and the housing affordability in Monroe, GA, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Monroe have a median income of $51,281. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,196 per month to avoid calamity and poverty. The renters in the city have an income of about $27,834, which would make their monthly maximum allowable rental costs $649.

Georgia Sales Tax

State	General Sales Tax	With Max Surtax
Georgia	4%	8%

Georgia Income Tax

State	Income Tax (Low)	Income Tax (High)
Georgia	1%	5.75%

Goods & Services

Item	Monroe	National avg.	Difference
Haircut	$20.90	$17.49	19.5%
Beauty Salon	$48.30	$38.17	26.5%
Toothpaste	$2.89	$2.32	24.5%
Shampoo	$1.04	$1.01	2.8%
Movie	$14.66	$10.72	36.7%
Bowling	$16.40	$13.86	18.3%

Groceries

Item	Monroe	National avg.	Difference
Ground Beef	$4.64	$3.90	19.0%
Fried Chicken	$1.32	$1.40	5.4%
Milk	$2.09	$1.96	6.5%
Potatoes	$3.00	$3.18	5.7%
Pizza	$11.39	$10.39	9.6%
Beer	$9.74	$9.23	5.5%

Health Care

Item	Monroe	National avg.	Difference
Optometrist	$109.20	$106.34	2.7%
Doctor	$119.75	$115.25	3.9%
Dentist	$123.40	$98.38	25.4%
Ibuprofen	$8.35	$9.26	9.8%
Lipitor	$463.28	$466.47	0.7%

Housing

Item	Monroe	National avg.	Difference
Home Price	$111,600.00	$184,700.00	39.6%
Avg. Mortgage Payment	$1,321.35	$1,273.32	3.8%
Apartment Rent	$775.00	$949.00	18.3%

Transportation

Item	Monroe	National avg.	Difference
Gasoline	$2.70	$2.59	4.3%
Tire Balancing	$56.89	$48.90	16.4%

Utilities

Item	Monroe	National avg.	Difference
All Electricity	$124.35	$167.60	25.8%
Phone	$182.25	$163.42	11.5%

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, State	Population	Cost of Living Index	National Avg.
Russell, GA	1,395	88	-12%
Statham, GA	2,589	91	-9%
Oxford, GA	2,100	91	-9%
Bethlehem, GA	782	93	-7%
Covington, GA	13,667	94	-6%
Monroe, GA	13,253	93	-7%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Southern Pines, NC	13,258	103	3%
Spring Lake, NC	13,258	88	-12%
Port Orchard, WA	13,265	130	30%
Hamilton Square, NJ	13,265	129	29%
Rantoul, IL	13,238	83	-17%
Monroe, GA	13,253	93	-7%

Source: The Monroe, GA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Monroe, GA Cost of Living

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