Cost of Living in Monterey, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
92.6
100 = national avg
-7.4 vs national average
Living Wage (1 Adult)
$40,763
per year
Living Wage (Family of 4)
$96,349
per year
Cost Index by Category
Housing96.6
Food94.8
Transportation79.6
Healthcare95.9
Utilities96.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$749
per month
2 Bedroom
$914
per month
The overall cost of living index in Monterey is 92.6, which is 7.4% below the national average. Housing costs are below the national average at an index of 96.6. A single adult needs to earn approximately $40,763 per year to cover basic expenses.