Cost of Living in Monroe, UT

With a cost of living index of 92, Monroe, UT is slightly more affordable than average. Living here is 8% cheaper than the national average and 16% below the Utah state average of 108. Monroe is a small community of 2,570 residents.

Housing costs are the biggest factor in Monroe's cost of living. The median monthly rent is $1,203 (9% below the US median of $1,319), and the median home value sits at $267,700 (12% below the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Monroe is $63,807, which is 15% lower than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

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.