Elmwood, IL vs Monticello, IL

There is a significant gap in the cost of living between these two cities. Elmwood is 16.5% cheaper than Monticello. With a cost index of 66 vs 79, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Elmwood to Monticello should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elmwood is $761/month compared to $1,030/month in Monticello — a 26% difference. Home values follow the same pattern: Elmwood is more affordable at $144,600 median vs $196,000.

Median household income in Elmwood is $87,644 compared to $88,611 in Monticello (-1.1%). Monticello does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Elmwood spend roughly 10.4% of their income on rent, less than the 13.9% in Monticello.

Climate-wise, both cities share similar average temperatures (52.7°F vs 51.1°F). Monticello receives more rainfall at 39.6" per year compared to 37.6" in Elmwood.