Cost of Living in Monticello, IA

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14%
Overall NAT. AVG.
5%
Groceries NAT. AVG.
36%
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 Iowa National
Cost of living8689100
Groceries9597100
Health care9896100
Housing6474100
Transportation9597100
Utilities9395100
Lifestyle & Entertainment9895100
Household Items9897100
Education & Childcare9794100
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Homes For Sale In Monticello, IA

property for sale

421 W 5th St

Monticello, IA
property for sale

21121 Western Dr

Monticello, IA
property for sale

19906 Military Rd

Monticello, IA
property for sale

19979 200th Ave

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

Cost Of Living Quick Facts

  • The cost of living in Monticello is 3% lower than the Iowa average
  • The cost of living in Monticello is 14% lower than the national average
  • Monticello housing is 36% lower than the national average
  • Iowa general sales tax is 18% higher than the national average
  • Iowa state income tax is 69% higher than the national average

Most Affordable Places to Live in and Around Monticello

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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$94,016$7,835$2,194$2,821
      Renters$47,722$3,977$1,113$1,432
      The affordability of the housing market in Monticello, IA as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Monticello homeowners, the median income is $94,016. This indicates that a monthly maximum of $2,194 should be spent by homeowners on all housing related costs. Renters have a median income of $47,722. This indicates that renters would have a maximum of $1,113 for their rent related monthly costs.

      Iowa Sales Tax

      State General Sales Tax With Max Surtax
      Iowa 6% 7%

      Iowa Income Tax

      State Income Tax (Low) Income Tax (High)
      Iowa 4.4% 6%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Stone City, IA62963.8%
      Hopkinton, IA5908119.0%
      Onslow, IA3178217.6%
      Center Junction, IA1048217.6%
      Wyoming, IA4698317.2%
      Monticello, IA3,9798613.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Southport, NC3,9791099.1%
      White House Station, NJ3,97814141.4%
      Grape Creek, TX3,9808811.8%
      Grand Bay, AL3,977928.4%
      Ridgecrest, FL3,9811099.1%
      Monticello, IA3,9798613.5%
      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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