Monroe, GA Cost Of Living

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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.
Index	Monroe	Georgia	National
Cost of living index	93	94	100
Index	Monroe	Georgia	National
Goods & Services index	108	97	100
Groceries index	104	99	100
Health care index	109	97	100
Housing index	67	86	100
Transportation index	108	97	100
Utilities index	86	93	100

Displayed above is a general overview of the Monroe, GA cost of living index. The overall cost of living index in Monroe, GA is 93, which is 1% lower than the Georgia average and 7% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Monroe, GA are 11% higher than the Georgia average and 8% higher than the national average.

Did you know?

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.
The cost of housing in Monroe is 33% lower than the national average.
Georgia general sales tax is 21% lower than the national average.
Georgia state income tax is 55% lower than the national average.

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Compare Monroe, GA Cost of living To Other Cities

Salary Calculator

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

Using the salary calculator lets you compare the salary you earn in Monroe, GA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Monroe, GA, you have to earn a higher income in order to still have the same standard of living. To operate the Monroe, GA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

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

One can approximate the cost of living and the housing affordability in Monroe, GA 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, GA 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%	6%

When considering the overall cost of living expenses in Monroe, GA, it's important to take into account the sales tax for Georgia, as well as the rate for income tax in Georgia. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Georgia is 8%, and the sales tax in the state of Georgia is 4%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Georgia starts from 1% and goes up to 6%.

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.
Spring Lake, NC	13,258	88	-12%
Southern Pines, NC	13,258	103	3%
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%

Monroe, GA Cost of Living