Lake Monticello, VA is a charming town located in the foothills of the Blue Ridge Mountains. The city is home to a variety of businesses, such as Monticello Dairy Farm, Briarwood Financial Services and Lake Monticello Hardware. In terms of accommodation, 2 bedroom rent in Lake Monticello is slightly higher than the national average at $1,470 compared to $1,430 nationally. Grocery costs are also slightly above average with an index rate of 98 in comparison to 100 in the US. All in all, Lake Monticello offers a high quality of living as well as great value for money when it comes to cost of living.
Lake Monticello has an unemployment rate of 4.4%. The US average is 6.0%.
Lake Monticello has seen the job market increase by 3.8% over the last year. Future job growth over the next ten years is predicted to be 41.1%, which is higher than the US average of 33.5%.
Tax Rates for Lake Monticello
- The Sales Tax Rate for Lake Monticello is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lake Monticello is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Monticello
- The average income of a Lake Monticello resident is $33,043 a year. The US average is $28,555 a year.
- The Median household income of a Lake Monticello resident is $85,950 a year. The US average is $69,021 a year.