Cost of living in Monroe 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 Monroe is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, 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 Monroe is 97, with 100 being the average.
The cost of living index in Monroe is 1.0x lower than the national average.
Monroe ranks as the #82 cheapest in North Carolina out of 153.
Monroe ranks as the #2,747 cheapest out of 6,412 in the US.
The median home value in Monroe is $189,800.
The median income in Monroe is $58,180.
According to the most recent data on the cost of living, Monroe has an overall cost of living index of 97, which is 1.0x lower than the national index of 100.
Compared to North Carolina, Monroe has a cost of living index that's 1.0x higher than North Carolina's index of 95.
The standard of living in Monroe ranks as #82 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Monroe ranks as the #71 most expensive place in the Tar Heel State.
For more reading on life in Monroe, check out:
Six factors go into calculating the cost of living index in Monroe. Here is how it fairs on each of the criteria:
The Services index in Monroe is 103.
The Groceries index in Monroe is 104.
The Health index in Monroe is 106.
The Housing index in Monroe is 83.
The Transportation index in Monroe is 100.
The Utilities index in Monroe is 95.
|Living Expense||Monroe||North Carolina||National Average|
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Monroe is $189,800.
The Median Rent in Monroe is $1,059.
The Median Income in Monroe is $58,180.
The Home Value To Income in Monroe is 3.3x.
The Rent To Monthly Income in Monroe is 0.22x.
|Statistic||Monroe||North Carolina||United States|
|Median Home Value||$189,800||$197,500||$244,900|
|Home Value To Income||3.3x||3.3x||3.5x|
|Rent To Monthly Income||0.22x||0.2x||0.2x|
The cost of living varies in the cities and towns around Monroe. Here's a quick look at the cost of living in the most populous nearby places:
Quincy, IL has a cost of living index of 83, 0.9x Monroe.
Middletown, NY has a cost of living index of 107, 1.1x Monroe.
Hannibal, MO has a cost of living index of 86, 0.9x Monroe.