Lake Monticello, VA Cost Of Living
Cost Of Living In Lake Monticello, VA Summary
Cost of living in Lake 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 Lake 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 Virginia, 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 Lake Monticello is 112, with 100 being the average.
The cost of living index in Lake Monticello is 1.1x higher than the national average.
Lake Monticello ranks as the #67 cheapest in Virginia out of 190.
Lake Monticello ranks as the #3,863 cheapest out of 6,489 in the US.
The median home value in Lake Monticello is $323,678.
The median income in Lake Monticello is $101,363.
Table Of Contents
Lake Monticello's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Monticello, VA?
According to the most recent data on the cost of living, Lake Monticello has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to Virginia, Lake Monticello has a cost of living index that's 1.0x higher than Virginia's index of 110.
The standard of living in Lake Monticello ranks as #67 most affordable out of the 190 places we measured in Virginia. By definition, that implies Lake Monticello ranks as the #123 most expensive place in the Old Dominion.
For more reading on life in Lake Monticello, check out:
In Virginia
In America
Lake Monticello Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lake Monticello. Here is how it fairs on each of the criteria:
The Services index in Lake Monticello is 104.
The Groceries index in Lake Monticello is 99.
The Health index in Lake Monticello is 96.
The Housing index in Lake Monticello is 135.
The Transportation index in Lake Monticello is 94.
The Utilities index in Lake Monticello is 103.
| Living Expense | Lake Monticello | Virginia | National Average | |
|---|---|---|---|---|
| Overall | 112 | 110 | 100 | |
| Services | 104 | 101 | 100 | |
| Groceries | 99 | 99 | 100 | |
| Health | 96 | 98 | 100 | |
| Housing | 135 | 130 | 100 | |
| Transportation | 94 | 94 | 100 | |
| Utilities | 103 | 104 | 100 | |
Lake Monticello, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, 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 Lake Monticello is $323,678.
The Median Rent in Lake Monticello is $2,167.
The Median Income in Lake Monticello is $101,363.
The Home Value To Income in Lake Monticello is 3.2x.
The Rent To Monthly Income in Lake Monticello is 0.26x.
| Statistic | Lake Monticello | Virginia | United States |
|---|---|---|---|
| Median Home Value | $323,678 | $404,962 | $303,400 |
| Median Rent | $2,167 | $1,514 | $1,348 |
| Median Income | $101,363 | $90,974 | $78,538 |
| Home Value To Income | 3.2x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.26x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Monticello, VA Costs By Category
Detailed Lake Monticello Services Costs Vs. Virginia
| Item | Lake Monticello | Virginia |
|---|---|---|
| Shampoo | $1.71 | $1.28 |
| Movie | $15.32 | $12.13 |
| Bowling | $25.5 | $18 |
| Haircut | $27.97 | $24.26 |
| Beauty Salon | $54.19 | $45.56 |
Detailed Lake Monticello Groceries Costs Vs. Virginia
| Item | Lake Monticello | Virginia |
|---|---|---|
| Ground Beef | $6.34 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $5.33 | $4.93 |
| Pizza | $12.47 | $12.09 |
| Beer | $11.67 | $10.41 |
| Toothpaste | $3.81 | $3.7 |
Detailed Lake Monticello Health Costs Vs. Virginia
| Item | Lake Monticello | Virginia |
|---|---|---|
| Optometrist | $121.84 | $125.68 |
| Doctor | $168.85 | $135.78 |
| Dentist | $135.19 | $113.29 |
Detailed Lake Monticello Transportation Costs Vs. Virginia
| Item | Lake Monticello | Virginia |
|---|---|---|
| Gasoline | $3.49 | $3.46 |
| Tire Balancing | $57.76 | $59.92 |
Detailed Lake Monticello Utilities Costs Vs. Virginia
| Item | Lake Monticello | Virginia |
|---|---|---|
| All Electricity | $201.35 | $193.99 |
| Phone | $184.83 | $192.25 |
Lake Monticello SnackAbility
/10
Cost Of Living In Cities Around Lake Monticello
The cost of living varies in the cities and towns around Lake Monticello. Here's a quick look at the cost of living in the most populous nearby places:
Harrisonburg, VA has a cost of living index of 104, 0.9x Lake Monticello.
Tuckahoe, VA has a cost of living index of 118, 1.1x Lake Monticello.
Charlottesville, VA has a cost of living index of 121, 1.1x Lake Monticello.
| City | Population | Cost Of Living | Vs. Lake Monticello |
|---|---|---|---|
| Harrisonburg, VA | 51,492 | 104 | 0.9x |
| Tuckahoe, VA | 48,610 | 118 | 1.1x |
| Charlottesville, VA | 45,863 | 121 | 1.1x |
| Short Pump, VA | 28,177 | 131 | 1.2x |
| Glen Allen, VA | 16,630 | 108 | 1.0x |
| Wyndham, VA | 12,084 | 150 | 1.3x |
| Stuarts Draft, VA | 11,920 | 104 | 0.9x |
| University of Virginia, VA | 9,159 | 125 | 1.1x |
| Hollymead, VA | 8,566 | 123 | 1.1x |
| Innsbrook, VA | 8,559 | 123 | 1.1x |
