Cost of Living in Monticello, AR

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16%
Overall NAT. AVG.
4%
Groceries NAT. AVG.
39%
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 Monticello Arkansas National
Cost of living8486100
Groceries9696100
Health care9595100
Housing6167100
Transportation9294100
Utilities9693100
Lifestyle & Entertainment9593100
Household Items9896100
Education & Childcare8892100
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Homes For Sale In Monticello, AR

property for sale

2198 Highway 425 N

Monticello, AR
property for sale

23 Tanglewood Dr Lot 23

Monticello, AR
property for sale

19 6th St

Monticello, AR
property for sale

134 Allen Dr

Monticello, AR
See the Newest Homes For Sale In Monticello, AR

Cost Of Living Quick Facts

  • The cost of living in Monticello is 2% lower than the Arkansas average
  • The cost of living in Monticello is 16% lower than the national average
  • Monticello housing is 39% lower than the national average
  • Arkansas general sales tax is 27% higher than the national average
  • Arkansas state income tax is 23% lower than the national average

Most Affordable Places to Live in and Around Monticello

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      The best places in Arkansas

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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$79,737$6,645$1,860$2,392
      Renters$36,340$3,028$848$1,090
      A good indicator of the general affordability of housing in Monticello, AR, 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 Monticello, the median monthly income is $79,737 for those who own their own homes. Under the standard rule, that income level would allow for $1,860 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $36,340, per the median income in the area. That would allow for renters to spend up to $848 on monthly rental expenses.

      Arkansas Sales Tax

      State General Sales Tax With Max Surtax
      Arkansas 6.5% 11.625%

      Arkansas Income Tax

      State Income Tax (Low) Income Tax (High)
      Arkansas 2% 4.9%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Wilmar, AR2847822.2%
      Rye, AR1478118.9%
      Monticello, AR9,6188415.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Audubon, PA9,62012423.9%
      Greenwood, AR9,6158812.0%
      St. Stephens, NC9,613919.0%
      Minto, ON9,623n/a 
      Murrells Inlet, SC9,62611010.4%
      Monticello, AR9,6188415.7%
      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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