Cost of Living in Monticello, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
121.5
100 = national avg
+21.5 vs national average
Living Wage (1 Adult)
$53,452
per year
Living Wage (Family of 4)
$126,340
per year
Cost Index by Category
Housing115.4
Food117.7
Transportation135.5
Healthcare114.2
Utilities113.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$946
per month
2 Bedroom
$1,122
per month
The overall cost of living index in Monticello is 121.5, which is 21.5% above the national average. Housing costs are above the national average at an index of 115.4. A single adult needs to earn approximately $53,452 per year to cover basic expenses.