Cost of Living in Monticello, KY
Population 5,741 · Kentucky · Data vintage 2023
(100 = US avg)
At $37,733, median household incomes in Monticello land roughly 49% below the US median, a gap that tends to persist across local labor-market indicators. Around 35% of residents live below the federal poverty line, a rate that tends to correlate with the income and housing figures above.
Monticello lies roughly 80 miles northwest of the nearest major metro, Knoxville — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 41% lower than Knoxville's $214,000.
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 $125,800 — 59% below the national median of $305,000. Median rent runs $679/month, 48% lower than the national median of $1,314/month. The median household income of $37,733/year is 49% lower than the US median of $74,580. The local unemployment rate is 4.1%, below the national average of 4.8%. Kentucky's top state income tax rate is 4.0% and the combined sales tax is 6.0%. Overall, Monticello has a cost of living index of 45 versus the US average of 100, meaning it is 55% 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, KY?
Monticello has a cost index of 45 (100 = national average). It is 55% below the national average.
What is average rent in Monticello, KY?
The median gross rent in Monticello is $679 per month based on 2023 Census data.
What is the average home price in Monticello?
The median home value in Monticello is $125,800 according to Zillow and Census data.
What is the median income in Monticello?
The median household income in Monticello is $37,733 per year (2023 ACS 5-year estimates).
What is the sales tax in Monticello, KY?
The combined state and local sales tax rate in Monticello is 6.0%. The Kentucky state income tax top rate is 4.0%.
Is Monticello, KY affordable?
Yes, Monticello is generally considered affordable, with a cost of living index of 45 — about 55% below the US national average of 100.
Monticello at a Glance
- Population
- 5,741
- Median Income
- $37,733
- Home Value
- $125,800
- Median Rent
- $679/mo
- Unemployment
- 4.1%
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Kentucky Rankings
Similar Cost Cities
Cities in other states with comparable housing costs