Cost of Living in Monticello, IA
Population 4,055 · Iowa · Data vintage 2023
(100 = US avg)
Buyers in Monticello can reasonably expect a home to cost less than three years of household income — $161,000 against $67,788 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country. The labor market has been unusually tight, with unemployment around 0.4% — below most comparable cities in the state.
Monticello is about 30 miles northeast of Cedar Rapids, the nearest large metro — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 9% lower than Cedar Rapids' $177,000.
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 $160,500 — 47% below the national median of $305,000. Median rent runs $659/month, 50% lower than the national median of $1,314/month. The median household income of $67,788/year is 9% lower than the US median of $74,580. The local unemployment rate is 0.4%, below the national average of 4.8%. Iowa's top state income tax rate is 5.7% and the combined sales tax is 6.9%. Overall, Monticello has a cost of living index of 52 versus the US average of 100, meaning it is 48% 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
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Monticello, IA?
Monticello has a cost index of 52 (100 = national average). It is 48% below the national average.
What is average rent in Monticello, IA?
The median gross rent in Monticello is $659 per month based on 2023 Census data.
What is the average home price in Monticello?
The median home value in Monticello is $160,500 according to Zillow and Census data.
What is the median income in Monticello?
The median household income in Monticello is $67,788 per year (2023 ACS 5-year estimates).
What is the sales tax in Monticello, IA?
The combined state and local sales tax rate in Monticello is 6.9%. The Iowa state income tax top rate is 5.7%.
Is Monticello, IA affordable?
Yes, Monticello is generally considered affordable, with a cost of living index of 52 — about 48% below the US national average of 100.
Monticello at a Glance
- Population
- 4,055
- Median Income
- $67,788
- Home Value
- $160,500
- Median Rent
- $659/mo
- Unemployment
- 0.4%
- Sales Tax
- 6.9%
Nearby Cities
Explore county-level cost of living data
Iowa Rankings
Similar Cost Cities
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