Housing costs in Monterey?
A typical home costs
$234,000, which is 30.8% less expensive than the national average of
$338,100 and 31.8% less expensive than the average Virginia home, at
$343,200. Renting a two-bedroom unit in Monterey costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 75.0% cheaper than the state average of
$1,400.
Can I afford Monterey?
To live comfortably in Monterey, Virginia, a minimum annual income of
$45,000 for a family, and
$25,600 for a single person is recommended.
What does A.I. say about Monterey?
The cost of living in Monterey, VA is fairly low compared to other areas in the United States. According to BestPlaces, the cost of living index for Monterey is 90.9, which is significantly lower than the U.S. average of 100. In terms of housing costs, a one-bedroom apartment in the city centre can be rented for as little as $539 per month, and outside the city centre around $475-550 per month on average. Groceries and restaurants also feature relatively low prices compared with other cities, making it more affordable for people living on a budget. Additionally, the state income tax rate in Virginia is only 5.75%. All of these factors make Monterey an attractive place to live for those looking for a lower cost of living while still enjoying all that Virginia has to offer.