Cost of Living in Monroe, WI

Population 10,568 · Wisconsin · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

Buyers in Monroe can reasonably expect a home to cost less than three years of household income — $184,000 against $67,621 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country.

Located 35 miles southwest of Madison, Monroe falls within that metro's commuting orbit. Median home values run roughly 47% lower than Madison's $347,000.

Cost Overview

Housing 60

Rent 64

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Monroe

The median home value in Monroe is $184,400 — 40% below the national median of $305,000. Median rent runs $844/month, 36% lower than the national median of $1,314/month. The median household income of $67,621/year is 9% lower than the US median of $74,580. The local unemployment rate is 4.1%, below the national average of 4.8%. Wisconsin's top state income tax rate is 7.7% and the combined sales tax is 5.4%. Overall, Monroe has a cost of living index of 62 versus the US average of 100, meaning it is 38% less expensive.

🏠 Housing

Median Home Value

$184,400

40% below avg

Zillow Home Value

$273,052

Zillow ZHVI

Median Rent

$844/mo

36% below avg

Price-to-Rent Ratio

18.2x

Favors buying

Property Tax Rate

1.7%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$712

1 BR

$781

2 BR

$997

3 BR

$1,290

4 BR

$1,448

Owner-occupied 63.1%

Renter-occupied 36.9%

💰 Estimated Monthly Budget

Rent median rent

$844

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,458/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

20.5 min

24% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

9.5%

Commute Mode

Drove alone

80.1%

Carpooled

8.5%

Walked

1.7%

Work from home

9.5%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax 7.7%

Total Sales Tax 5.4%

State rate 5.0%

Avg local rate 0.4%

Property Tax 1.7%

💼 Income & Employment

Median Household Income

$67,621

9% below avg

Per Capita Income

$38,881

Unemployment Rate

4.1%

15% below avg

Poverty Rate

6.9%

Labor Force Participation

65.8%

🎓 Education

Bachelor's degree+ 17.6%

Graduate degree 7.6%

👥 Demographics

Median Age 41.3

Male median age 39.8

Female median age 42.2

🏫 Schools

NCES CCD 2019 — public school district data

97%

4-Year Graduation Rate

13.4:1

Student-teacher ratio

Public schools

2,349

Total enrollment

Frequently Asked Questions

What is the cost of living in Monroe, WI?

Monroe has a cost index of 62 (100 = national average). It is 38% below the national average.

What is average rent in Monroe, WI?

The median gross rent in Monroe is $844 per month based on 2023 Census data.

What is the average home price in Monroe?

The median home value in Monroe is $184,400 according to Zillow and Census data.

What is the median income in Monroe?

The median household income in Monroe is $67,621 per year (2023 ACS 5-year estimates).

What is the sales tax in Monroe, WI?

The combined state and local sales tax rate in Monroe is 5.4%. The Wisconsin state income tax top rate is 7.7%.

Is Monroe, WI affordable?

Yes, Monroe is generally considered affordable, with a cost of living index of 62 — about 38% below the US national average of 100.

Monroe at a Glance

Population: 10,568
Median Income: $67,621
Home Value: $184,400
Median Rent: $844/mo
Unemployment: 4.1%
Sales Tax: 5.4%

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