Cost of Living in Monticello, AR
Population 8,320 · Arkansas · Data vintage 2023
(100 = US avg)
Monticello's median household income of $27,998 is a meaningful share below the national figure, which shapes most of the downstream economic indicators — from housing affordability to the share of residents living below the poverty line (28% here). At 7.8%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Monticello lies roughly 85 miles southeast of the nearest major metro, Little Rock — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 42% lower than Little Rock's $221,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Monticello
The median home value in Monticello is $128,900 — 58% below the national median of $305,000. Median rent runs $676/month, 49% lower than the national median of $1,314/month. The median household income of $27,998/year is 62% lower than the US median of $74,580. The local unemployment rate is 7.8%, above the national average of 4.8%. Arkansas's top state income tax rate is 4.4% and the combined sales tax is 9.5%. Overall, Monticello has a cost of living index of 46 versus the US average of 100, meaning it is 54% less expensive.
Monticello has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Monticello, AR?
Monticello has a cost index of 46 (100 = national average). It is 54% below the national average.
What is average rent in Monticello, AR?
The median gross rent in Monticello is $676 per month based on 2023 Census data.
What is the average home price in Monticello?
The median home value in Monticello is $128,900 according to Zillow and Census data.
What is the median income in Monticello?
The median household income in Monticello is $27,998 per year (2023 ACS 5-year estimates).
What is the sales tax in Monticello, AR?
The combined state and local sales tax rate in Monticello is 9.5%. The Arkansas state income tax top rate is 4.4%.
Is Monticello, AR affordable?
Yes, Monticello is generally considered affordable, with a cost of living index of 46 — about 54% below the US national average of 100.
Monticello at a Glance
- Population
- 8,320
- Median Income
- $27,998
- Home Value
- $128,900
- Median Rent
- $676/mo
- Unemployment
- 7.8%
- Sales Tax
- 9.5%
Explore county-level cost of living data
Arkansas Rankings
Similar Cost Cities
Cities in other states with comparable housing costs