Monticello, AR is a charming town situated in Drew County. The cost of living here is extremely attractive with 2-bedroom rent costing around $730 which is much lower than the US average of $1,430. The Grocery Cost Index in Monticello stands at 93 compared to 100 in the US. Notable local companies include Squire Creek Park, Hiland Dairy Products, and Ouachita Valley Federal Credit Union. Attractions for locals and visitors alike include Lake Monticello, the Arkansas Museum of Natural Resources, and Wilkinson Park. There are also plenty of restaurants offering all sorts of cuisines to satisfy everyone's appetite.
Monticello has an unemployment rate of 5.8%. The US average is 6.0%.
Monticello has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 25.9%, which is lower than the US average of 33.5%.
Tax Rates for Monticello
- The Sales Tax Rate for Monticello is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Monticello is 6.9%. 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 $20,798 a year. The US average is $37,638 a year.
- The Median household income of a Monticello resident is $33,604 a year. The US average is $69,021 a year.