Monticello, MN Cost Of Living
Cost Of Living In Monticello, MN Summary
Cost of living in Monticello research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Monticello is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Monticello is 107, with 100 being the average.
The cost of living index in Monticello is 1.1x higher than the national average.
Monticello ranks as the #86 cheapest in Minnesota out of 148.
Monticello ranks as the #3,374 cheapest out of 6,489 in the US.
The median home value in Monticello is $325,643.
The median income in Monticello is $81,563.
Table Of Contents
Monticello's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Monticello, MN?
According to the most recent data on the cost of living, Monticello has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Monticello has a cost of living index that's 1.1x higher than Minnesota's index of 97.
The standard of living in Monticello ranks as #86 most affordable out of the 148 places we measured in Minnesota. By definition, that implies Monticello ranks as the #62 most expensive place in the North Star State.
For more reading on life in Monticello, check out:
In Minnesota
In America
Monticello Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Monticello. Here is how it fairs on each of the criteria:
The Services index in Monticello is 110.
The Groceries index in Monticello is 97.
The Health index in Monticello is 125.
The Housing index in Monticello is 114.
The Transportation index in Monticello is 98.
The Utilities index in Monticello is 91.
| Living Expense | Monticello | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 107 | 97 | 100 | |
| Services | 110 | 101 | 100 | |
| Groceries | 97 | 99 | 100 | |
| Health | 125 | 110 | 100 | |
| Housing | 114 | 100 | 100 | |
| Transportation | 98 | 95 | 100 | |
| Utilities | 91 | 94 | 100 | |
Monticello, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Monticello is $325,643.
The Median Rent in Monticello is $1,462.
The Median Income in Monticello is $81,563.
The Home Value To Income in Monticello is 4.0x.
The Rent To Monthly Income in Monticello is 0.22x.
| Statistic | Monticello | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $325,643 | $344,484 | $303,400 |
| Median Rent | $1,462 | $1,235 | $1,348 |
| Median Income | $81,563 | $87,556 | $78,538 |
| Home Value To Income | 4.0x | 3.9x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Monticello, MN Costs By Category
Detailed Monticello Services Costs Vs. Minnesota
| Item | Monticello | Minnesota |
|---|---|---|
| Shampoo | $1.52 | $1.28 |
| Movie | $11.24 | $12.13 |
| Bowling | $26.39 | $18 |
| Haircut | $27.97 | $24.26 |
| Beauty Salon | $37.17 | $45.56 |
Detailed Monticello Groceries Costs Vs. Minnesota
| Item | Monticello | Minnesota |
|---|---|---|
| Ground Beef | $5.75 | $5.84 |
| Fried Chicken | $1.35 | $1.57 |
| Milk | $4.58 | $4.67 |
| Potatoes | $4.86 | $4.93 |
| Pizza | $13.07 | $12.09 |
| Beer | $9.52 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Monticello Health Costs Vs. Minnesota
| Item | Monticello | Minnesota |
|---|---|---|
| Optometrist | $109.94 | $125.68 |
| Doctor | $162.98 | $135.78 |
| Dentist | $96.9 | $113.29 |
Detailed Monticello Transportation Costs Vs. Minnesota
| Item | Monticello | Minnesota |
|---|---|---|
| Gasoline | $3.31 | $3.46 |
| Tire Balancing | $61.97 | $59.92 |
Detailed Monticello Utilities Costs Vs. Minnesota
| Item | Monticello | Minnesota |
|---|---|---|
| All Electricity | $175.69 | $193.99 |
| Phone | $188.55 | $192.25 |
Monticello SnackAbility
/10
Cost Of Living In Cities Around Monticello
The cost of living varies in the cities and towns around Monticello. Here's a quick look at the cost of living in the most populous nearby places:
Ramsey, MN has a cost of living index of 113, 1.1x Monticello.
Elk River, MN has a cost of living index of 106, 1.0x Monticello.
Otsego, MN has a cost of living index of 114, 1.1x Monticello.
| City | Population | Cost Of Living | Vs. Monticello |
|---|---|---|---|
| Ramsey, MN | 28,070 | 113 | 1.1x |
| Elk River, MN | 26,367 | 106 | 1.0x |
| Otsego, MN | 21,358 | 114 | 1.1x |
| St. Michael, MN | 19,267 | 110 | 1.0x |
| Buffalo, MN | 16,388 | 107 | 1.0x |
| Rogers, MN | 13,405 | 122 | 1.1x |
| Albertville, MN | 8,066 | 103 | 1.0x |
| Corcoran, MN | 6,854 | 125 | 1.2x |
| Delano, MN | 6,712 | 104 | 1.0x |
