Cost of Living in Monument, OR

With a cost of living index of 214, Monument, OR is one of the most expensive cities in the United States. Living here is 114% more expensive than the national average and 108% above the Oregon state average of 106. Monument is a small community of 198 residents.

Housing costs are the biggest factor in Monument's cost of living. The median monthly rent is $450 (66% below the US median of $1,319), and the median home value sits at $2,000,001 (556% above the national median of $304,900). At current prices, the median home costs roughly 54.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Monument is $36,809, which is 51% lower than the national median of $75,149. Residents spend roughly 15% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Monument. The area sees an average annual temperature of 52.7°F, with summers averaging 70°F and winters around 37°F. Annual rainfall totals 9.8 inches spread over roughly 98 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.