Cost of Living in Monticello, UT

With a cost of living index of 91, Monticello, UT is slightly more affordable than average. Living here is 9% cheaper than the national average and 17% below the Utah state average of 108. Monticello is a small community of 1,941 residents.

Housing costs are the biggest factor in Monticello's cost of living. The median monthly rent is $1,065 (19% below the US median of $1,319), and the median home value sits at $307,900 (1% above the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Monticello is $63,750, which is 15% lower than the national median of $75,149. Residents spend roughly 20% 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.