Cost of Living in Monterey, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
63.6
100 = national avg
-36.4 vs national average
Living Wage (1 Adult)
$27,979
per year
Living Wage (Family of 4)
$66,133
per year
Cost Index by Category
Housing54.1
Food78.2
Transportation56.4
Healthcare82.5
Utilities77.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$872
per month
2 Bedroom
$956
per month
The overall cost of living index in Monterey is 63.6, which is 36.4% below the national average. Housing costs are below the national average at an index of 54.1. A single adult needs to earn approximately $27,979 per year to cover basic expenses.