Cost of Living in Monroe, LA

Housing

The housing market plays a significant role in determining the cost of living in Monroe, LA.

• Housing Index: 85.0 / 100
• Median Home Price is: $212500
• Average Rent (2 BR Apartment): $1200 per month
• Average Rent (2 BR House): $1275 per month

When considering a move to Monroe, LA, the current housing index stands at 85.0 which indicates a moderately affordable market. The median home price at 212500 suggests entry into homeownership is feasible, while the average rent for a 2-bedroom apartment and house is at 1200 and 1275, respectively. These factors make Monroe a viable option for both renters and buyers alike, especially within a growing region that may offer more job opportunities, community amenities, and a welcoming lifestyle.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Monroe, LA.

• Electricity Price: 11.42 USD (median by state)
• Natural Gas Price: $19.48 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $250 per month

Living in Monroe, LA could entail higher utility costs. Electricity costs sit at 11.42, while natural gas is priced at 19.48 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 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 Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 93.2

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $36550

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Monroe, LA, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.