Monticello, MS is a small town in southern Mississippi that offers a comfortable lifestyle for residents. The average two-bedroom rent in Monticello is $840 compared to $1,430 nationally, making it an affordable option for those looking to move. The cost of groceries in Monticello is also low with a grocery cost index of 96 versus 100 at the national level. This makes the cost of living lower than many parts of the US. \nThe local economy is driven by companies such as Monticello Food Center and Family Dollar, both located downtown. Residents have easy access to shopping and entertainment options nearby as well as plenty of outdoor activities like fishing on Lake Monticello and hiking trails within local parks.
Monticello has an unemployment rate of 7.5%. The US average is 6.0%.
Monticello has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 18.7%, which is lower than the US average of 33.5%.
Tax Rates for Monticello
- The Sales Tax Rate for Monticello is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Monticello is 5.0%. 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 $22,203 a year. The US average is $37,638 a year.
- The Median household income of a Monticello resident is $25,536 a year. The US average is $69,021 a year.