Cost of Living in Monticello, KY

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A+
19%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
45%
Housing NAT. AVG.
Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; 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 Monticello Kentucky National
Cost of living8190100
Goods & Services97102100
Groceries96100100
Health care7593100
Housing5570100
Transportation8896100
Utilities8488100
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Homes For Sale In Monticello, KY

property for sale

81 White Oak Ln

Monticello, KY
property for sale

875 Highway 3106

Monticello, KY
property for sale

360 Hickory Hill Dr

Monticello, KY
property for sale

54 Jess Crisswell Rd

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

Cost Of Living Quick Facts

  • The cost of living in Monticello is 10% lower than the Kentucky average
  • The cost of living in Monticello is 19% lower than the national average
  • Monticello housing is 45% lower than the national average
  • Kentucky general sales tax is 18% higher than the national average
  • Kentucky state income tax is 73% higher than the national average

Most Affordable Places to Live in and Around Monticello

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Compare Monticello, KY Cost of Living

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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
      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$76,873$6,406$1,794$2,306
      Renters$35,531$2,961$829$1,066
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Monticello, KY, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Monticello, homeowners have a median income of $76,873. Using that number, a maximum of $1,794 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $35,531, which means there is a maximum of $829 to be spent on the costs of renting a home or apartment.

      Kentucky Sales Tax

      State General Sales Tax With Max Surtax
      Kentucky 6% 6%

      Kentucky Income Tax

      State Income Tax (Low) Income Tax (High)
      Kentucky 4.5% 4.5%

      Goods & Services

      Item Monticello National avg. Difference
      Haircut $19.67$27.6228.8%
      Beauty Salon $46.17$51.119.7%
      Toothpaste $4.11$4.090.4%
      Shampoo $1.29$1.5416.3%
      Movie $14.18$12.8810.1%
      Yoga $16.08$19.6618.2%

      Groceries

      Item Monticello National avg. Difference
      Ground Beef $8.00$7.703.8%
      Fried Chicken $1.53$1.668.0%
      Milk $4.66$4.731.5%
      Potatoes $5.76$5.269.6%
      Pizza $11.87$12.767.0%
      Beer $10.33$10.552.1%

      Health Care

      Item Monticello National avg. Difference
      Optometrist $96.08$140.0631.4%
      Doctor $100.89$153.8234.4%
      Dentist $95.93$123.1522.1%
      Ibuprofen $11.42$11.732.7%
      Lipitor $16.61$23.6129.7%

      Housing

      Item Monticello National avg. Difference
      Home Price $171,053.00$326,622.0047.6%
      Avg. Mortgage Payment $1,897.61$2,480.2523.5%
      Apartment Rent $861.00$1,444.0040.4%

      Transportation

      Item Monticello National avg. Difference
      Gasoline $2.77$3.069.4%
      Tire Balancing $53.67$65.2117.7%

      Utilities

      Item Monticello National avg. Difference
      All Electricity $161.52$220.1226.6%
      Phone $196.66$195.710.5%
      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 Population Cost of Living Index National Avg.
      Jamestown, KY2,3178020.0%
      Russell Springs, KY2,6688119.0%
      Burnside, KY1,0158811.5%
      Monticello, KY6,1938119.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Louisville, MS6,1938316.9%
      Sheridan, CO6,19511515.5%
      Harris Hill, NY6,19711111.3%
      Metropolis, IL6,1888712.8%
      Kodiak, AK6,19812727.4%
      Monticello, KY6,1938119.1%
      Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.
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