Monticello, MS vs New Hope, MS

The cost of living difference between Monticello, MS and New Hope, MS is dramatic. Monticello is 33.2% cheaper than New Hope, a gap that translates to thousands of dollars per year in household expenses. Monticello has a cost index of 53 while New Hope sits at 79, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Monticello is $394/month compared to $963/month in New Hope — a 59% difference. Home values follow the same pattern: Monticello is more affordable at $114,200 median vs $223,900.

Median household income in Monticello is $28,920 compared to $79,250 in New Hope (-63.5%). While New Hope is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Monticello spend roughly 16.3% of their income on rent, more than the 14.6% in New Hope.

Climate-wise, both cities share similar average temperatures (66.2°F vs 64°F). Monticello receives more rainfall at 60.6" per year compared to 60" in New Hope.