Monticello, KY is a small city located in Kentucky that offers its residents plenty of opportunity to explore. It is home to local businesses such as Lincoln Pharmacy & Gifts, Anderson Insurance Agency, Inc., and Monticello Area Chamber of Commerce. The cost of living in this town is quite affordable compared to other areas in America; for example, two-bedroom rent is significantly lower than the average in the United States at $680 per month versus $1,430. Additionally, Monticello's Grocery Cost Index rating is 93 compared to 100 in the US overall. All these factors make it an attractive place for those looking for more economical options when it comes to living expenses.
Monticello has an unemployment rate of 5.4%. The US average is 6.0%.
Monticello has seen the job market increase by 3.5% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Monticello
- The Sales Tax Rate for Monticello is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Monticello is 6.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Monticello
- The average income of a Monticello resident is $15,190 a year. The US average is $28,555 a year.
- The Median household income of a Monticello resident is $40,477 a year. The US average is $69,021 a year.