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 114, 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 112.
The standard of living in Lake Monticello ranks as #67 most affordable out of the 188 places we measured in Virginia. By definition, that implies Lake Monticello ranks as the #121 most expensive place in the Old Dominion.
For more reading on life in Lake Monticello, check out:
Lake Monticello Cost Of Living Vs. Virginia
Six factors go into calculating the cost of living index in Lake Monticello. Here is how it fares on each of the criteria:
The Services index in Lake Monticello is 106.
The Groceries index in Lake Monticello is 104.
The Health index in Lake Monticello is 138.
The Housing index in Lake Monticello is 104.
The Transportation index in Lake Monticello is 107.
The Utilities index in Lake Monticello is 100.
| Living Expense | Lake Monticello | Virginia | National Average |
|---|---|---|---|
| Overall | 114 | 112 | 100 |
| Services | 106 | 103 | 100 |
| Groceries | 104 | 104 | 100 |
| Health | 138 | 131 | 100 |
| Housing | 104 | 105 | 100 |
| Transportation | 107 | 105 | 100 |
| Utilities | 100 | 104 | 100 |
Lake Monticello Cost Of Living Compared To Virginia Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Virginia, check out:
Protect your home budget Compare home warranties in Lake Monticello Get matched →Source: Cost-of-living index 2026, normalized to US average = 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 2020-2024. The key points are:
The Median Home Value in Lake Monticello is $350,333.
The Median Rent in Lake Monticello is $1,981.
The Median Income in Lake Monticello is $106,818.
The Home Value To Income in Lake Monticello is 3.3x.
The Rent To Monthly Income in Lake Monticello is 0.22x.
| Statistic | Lake Monticello | Virginia | United States |
|---|---|---|---|
| Median Home Value | $350,333 | $412,467 | $332,700 |
| Median Rent | $1,981 | $1,579 | $1,413 |
| Median Income | $106,818 | $93,170 | $80,734 |
| Home Value To Income | 3.3x | 4.4x | 4.1x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
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
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 109, 1.0x Lake Monticello.
Tuckahoe, VA has a cost of living index of 122, 1.1x Lake Monticello.
Charlottesville, VA has a cost of living index of 124, 1.1x Lake Monticello.
| City | Population | Cost Of Living | Vs. Lake Monticello |
|---|---|---|---|
| Harrisonburg, VA | 51,392 | 109 | 1.0x |
| Tuckahoe, VA | 49,183 | 122 | 1.1x |
| Charlottesville, VA | 45,437 | 124 | 1.1x |
| Short Pump, VA | 29,026 | 135 | 1.2x |
| Glen Allen, VA | 17,551 | 111 | 1.0x |
| Wyndham, VA | 12,099 | 154 | 1.4x |
| Stuarts Draft, VA | 11,780 | 106 | 0.9x |
| University of Virginia, VA | 9,065 | 128 | 1.1x |
| Innsbrook, VA | 8,578 | 127 | 1.1x |
| Hollymead, VA | 8,482 | 126 | 1.1x |
