Cost of Living in Monument, NM
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
117.3
100 = national avg
+17.3 vs national average
Living Wage (1 Adult)
$51,627
per year
Living Wage (Family of 4)
$122,028
per year
Cost Index by Category
Housing120.5
Utilities106.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,068
per month
2 Bedroom
$1,324
per month
The overall cost of living index in Monument is 117.3, which is 17.3% above the national average. Housing costs are above the national average at an index of 120.5. A single adult needs to earn approximately $51,627 per year to cover basic expenses.