Cost of Living in Monument, CO
Population 11,035 · Colorado · Data vintage 2023
(100 = US avg)
Home prices in Monument run well above the national baseline, with a median of $586,000, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $114,654 place the city among the better-paid Colorado metros.
Monument sits roughly 15 miles north of Colorado Springs — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 39% higher than Colorado Springs' $421,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Monument
The median home value in Monument is $586,400 — 92% above the national median of $305,000. Median rent runs $1,947/month, 48% higher than the national median of $1,314/month. The median household income of $114,654/year is 54% higher than the US median of $74,580. The local unemployment rate is 5.3%, above the national average of 4.8%. Colorado's top state income tax rate is 4.4% and the combined sales tax is 7.8%. Overall, Monument has a cost of living index of 175 versus the US average of 100, meaning it is 75% more expensive.
🏠 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
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Monument, CO?
Monument has a cost index of 175 (100 = national average). It is 75% above the national average.
What is average rent in Monument, CO?
The median gross rent in Monument is $1,947 per month based on 2023 Census data.
What is the average home price in Monument?
The median home value in Monument is $586,400 according to Zillow and Census data.
What is the median income in Monument?
The median household income in Monument is $114,654 per year (2023 ACS 5-year estimates).
What is the sales tax in Monument, CO?
The combined state and local sales tax rate in Monument is 7.8%. The Colorado state income tax top rate is 4.4%.
Is Monument, CO affordable?
Monument is above average in cost of living, with an index of 175 — about 75% higher than the national average.
Monument at a Glance
- Population
- 11,035
- Median Income
- $114,654
- Home Value
- $586,400
- Median Rent
- $1,947/mo
- Unemployment
- 5.3%
- Sales Tax
- 7.8%
Nearby Cities
Explore county-level cost of living data
Colorado Rankings
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