Milford, IN vs Monticello, IN

Monticello is moderately more affordable than Milford, with a 10.1% lower cost of living index. Milford scores 75 compared to 68 for Monticello, where the US average is 100. This difference means residents of Milford can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Milford is $1,038/month compared to $860/month in Monticello — a 21% difference. Home values follow the same pattern: Monticello is more affordable at $122,200 median vs $135,300.

Median household income in Milford is $52,014 compared to $50,138 in Monticello (+3.7%). Milford 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 Milford spend roughly 23.9% of their income on rent, more than the 20.6% in Monticello.