| Index | Monroe | Louisiana | National |
| Cost of living | 92 | 93 | 100 |
| Groceries | 98 | 98 | 100 |
| Health care | 96 | 96 | 100 |
| Housing | 81 | 82 | 100 |
| Transportation | 100 | 97 | 100 |
| Utilities | 101 | 101 | 100 |
| Lifestyle & Entertainment | 94 | 96 | 100 |
| Household Items | 97 | 98 | 100 |
| Education & Childcare | 94 | 95 | 100 |
Getting a feel for the cost of living in Monroe is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Monroe is 92, which is 8% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in Monroe closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Monroe can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Wondering if Monroe 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 Monroe, for example, the median home price is 15.6% lower than what folks pay nationally, and monthly rent is 26.9% lower than the usual rates. Plus, income levels matter too, with Monroe boasting a median household income of $46,713, which is 42.6% lower than the national average.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Monroe, the groceries index registers 2% lower than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Monroe, the general sales tax rate starts at 4.45%, and income tax rates begin at 1.85%.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Monroe, the transportation index is 0.2% lower than the national average.
The Monroe 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 | $87,616 | $7,301 | $2,044 | $2,629 |
| Renters | $27,906 | $2,326 | $651 | $837 |
| State | General Sales Tax | With Max Surtax |
| Louisiana | 4.45% | 11.45% |
| State | Income Tax (Low) | Income Tax (High) |
| Louisiana | 1.85% | 4.25% |
| City | Population | Cost of Living Index | National Avg. |
| Collinston, LA | 178 | 75 | 25.0% |
| Bawcomville, LA | 2,223 | 82 | 18.3% |
| Richwood, LA | 4,897 | 82 | 18.1% |
| Brownsville, LA | 3,796 | 82 | 17.5% |
| Start, LA | 996 | 85 | 15.1% |
| Monroe, LA | 49,123 | 92 | 7.5% |
| City | Population | Cost of Living Index | National Avg. |
| San Luis Obispo, CA | 49,128 | 174 | 73.6% |
| Glenview, IL | 49,038 | 145 | 45.3% |
| Dublin, OH | 49,030 | 124 | 24.1% |
| East Honolulu, HI | 49,017 | 226 | 125.6% |
| Marana, AZ | 48,967 | 116 | 16.2% |
| Monroe, LA | 49,123 | 92 | 7.5% |
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