| Index | Montrose | Colorado | National |
| Cost of living | 111 | 115 | 100 |
| Groceries | 103 | 104 | 100 |
| Health care | 106 | 107 | 100 |
| Housing | 119 | 136 | 100 |
| Transportation | 107 | 106 | 100 |
| Utilities | 110 | 108 | 100 |
| Lifestyle & Entertainment | 109 | 107 | 100 |
| Household Items | 106 | 105 | 100 |
| Education & Childcare | 112 | 111 | 100 |
Getting a feel for the cost of living in Montrose 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 Montrose is 111, which is 11% higher 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 most insightful perspective on a city comes from its residents. We recently surveyed 8 locals to gauge their perception of the cost of living in Montrose. The feedback revealed that 13% of respondents found the cost of living to be reasonable, with prices on the decline, while 88% regarded it as notably expensive with prices that continue to rise.
Is Montrose affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Montrose, the median home price is 29.5% higher than the national average and monthly rent prices are 3.9% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Montrose boasting a median household income of $78,700, 3.2% lower than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Montrose, the utilities index registers 9.9% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Montrose, the prevailing sales tax rate starts at 2.9%, and income tax rates kick off at 4.4%.
The Montrose cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for 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 | $97,515 | $8,126 | $2,275 | $2,926 |
| Renters | $49,812 | $4,151 | $1,162 | $1,495 |
| State | General Sales Tax | With Max Surtax |
| Colorado | 2.9% | 10% |
| State | Income Tax (Low) | Income Tax (High) |
| Colorado | 4.4% | 4.4% |
| City | Population | Cost of Living Index | National Avg. |
| Colona, CO | 44 | 107 | 6.8% |
| Olathe, CO | 1,852 | 99 | 0.6% |
| Montrose, CO | 19,970 | 111 | 10.6% |
| City | Population | Cost of Living Index | National Avg. |
| Arbutus, MD | 19,966 | 114 | 13.8% |
| Evergreen Park, IL | 19,979 | 105 | 4.7% |
| Johnstown, PA | 19,980 | 79 | 21.3% |
| Murray, KY | 19,988 | 93 | 7.2% |
| Camrose, AB | 19,951 | n/a | |
| Montrose, CO | 19,970 | 111 | 10.6% |
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