Cost of Living in Monticello, KY

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16%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
45%
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 Kentucky National
Cost of living8488100
Groceries9798100
Health care9797100
Housing5570100
Transportation9596100
Utilities9695100
Lifestyle & Entertainment9495100
Household Items10097100
Education & Childcare9794100
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Homes For Sale In Monticello, KY

property for sale

234 Cedar Point Ln

Monticello, KY
property for sale

137 Cave St

Monticello, KY
property for sale

14 Lakepoint View RD

Monticello, KY
property for sale

22 Buck Run Ridge Rd

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

Cost Of Living Quick Facts

  • The cost of living in Monticello is 5% lower than the Kentucky average
  • The cost of living in Monticello is 16% 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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      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$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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Jamestown, KY2,3178317.1%
      Russell Springs, KY2,6688415.7%
      Burnside, KY1,0158613.5%
      Monticello, KY6,1938416.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Louisville, MS6,1938515.4%
      Sheridan, CO6,19511616.0%
      Harris Hill, NY6,19712222.1%
      Metropolis, IL6,1888415.9%
      Kodiak, AK6,19812525.0%
      Monticello, KY6,1938416.2%
      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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