Cost of Living in Monroe, NC
Housing
The housing market plays a significant role in determining the cost of living in Monroe, NC.
- Housing Index: 115.0 / 100
- Median Home Price is: $292000
- Average Rent (2 BR Apartment): $1300 per month
- Average Rent (2 BR House): $1365 per month
When considering a move to Monroe, NC, the current housing index at 115.0 indicates a moderately competitive housing market. The median home price sits at 292000, which is reflective of a market that is not overly affordable but offers options for investment. The average rent for a 2-bedroom apartment is around 1300, while renting a 2-bedroom house is slightly higher at 1365. Notably, this suggests that renting a home could be an efficient option if you prefer flexibility, especially in light of rising home prices in many areas across the country.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Monroe, NC.
- Electricity Price: $13.72 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Monroe, NC could entail higher utility costs. Electricity costs sit at $13.72, while natural gas is priced at data unavailable 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 Monroe is a financially viable option for your relocation.