Cost of Living in Monticello, KY
Housing
The housing market plays a significant role in determining the cost of living in Monticello, KY.
- Housing Index: 95.0 / 100
- Median Home Price is: $188,000
- Average Rent (2 BR Apartment): $800 per month
- Average Rent (2 BR House): $856 per month
If you're considering relocating to Monticello, KY, the current housing index stands at 95.0, suggesting it leans towards affordability. With a median home price of 188000, buying may be beneficial compared to renting, especially given the average rent for a 2-bedroom apartment at 800 and a house at 856. Additionally, the area's lower rental prices can attract more families and young professionals seeking quality living without overstretching their budgets. Make sure to evaluate the job market and amenities in the area to make a well-informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Monticello, KY.
- Electricity Price: $12.87 USD (median by state)
- Natural Gas Price: $22.78 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Monticello, KY could entail higher utility costs. Electricity costs sit at $12.87, while natural gas is priced at $22.78 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Monticello is a financially viable option for your relocation.