Cost of Living in Monticello, AR
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
62.3
100 = national avg
-37.7 vs national average
Living Wage (1 Adult)
$27,430
per year
Living Wage (Family of 4)
$64,834
per year
Cost Index by Category
Housing67.0
Food71.4
Transportation42.8
Healthcare77.1
Utilities76.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$706
per month
2 Bedroom
$927
per month
The overall cost of living index in Monticello is 62.3, which is 37.7% below the national average. Housing costs are below the national average at an index of 67.0. A single adult needs to earn approximately $27,430 per year to cover basic expenses.