Cost of Living in Montgomery, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
158.9
100 = national avg
+58.9 vs national average
Living Wage (1 Adult)
$69,935
per year
Living Wage (Family of 4)
$165,300
per year
Cost Index by Category
Housing201.3
Food124.1
Transportation148.3
Healthcare119.3
Utilities134.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Montgomery is 158.9, which is 58.9% above the national average. Housing costs are above the national average at an index of 201.3. A single adult needs to earn approximately $69,935 per year to cover basic expenses.