Cost of Living in Monticello, AR

Housing

The housing market plays a significant role in determining the cost of living in Monticello, AR.

• Housing Index: 75.0 / 100
• Median Home Price is: $155000
• Average Rent (2 BR Apartment): $800 per month
• Average Rent (2 BR House): $801.6 per month

Considering a move to Monticello, AR? With a housing index of 75.0, the affordability may appeal to buyers and renters alike. The median home price of 155000 indicates a relatively accessible market. Average rents for a 2-bedroom apartment are around 800, while a 2-bedroom house costs about 801.6. This shows a slight premium for single-family homes. Additionally, factors such as local amenities, schools, and job opportunities should also inform your decision. Overall, Monticello appears to offer a balanced cost of living for diverse housing preferences.

Utilities

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

• Electricity Price: 12.36 USD (median by state)
• Natural Gas Price: $17.08 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $150 per month

Living in Monticello, AR could entail higher utility costs. Electricity costs sit at 12.36, while natural gas is priced at 17.08 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 150 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: 85.3

Median Income

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

• Median Income: $34176

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 Monticello, AR, 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.