The small city of Monticello, Arkansas (71655) is a great place to live due to its affordability. The average two bedroom rent in 71655 is $740, which is significantly lower than the US average of $1,430. This together with the local Grocery Cost Index of 93 (compared to 100 in the US), makes Monticello an attractive place for those looking for an affordable lifestyle. The cost of living in Monticello is also made more attractive by having over 800 companies based in the area such as Peco Foods Incorporated, M&R Wood Products Inc., and J&J Waffle House Inc., who are some of the major employers providing jobs and services to the city’s population.
Monticello (zip 71655) has an unemployment rate of 5.8%. The US average is 6.0%.
Monticello (zip 71655) has seen the job market decrease by -3.1% 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 (zip 71655)
- The Sales Tax Rate for Monticello (zip 71655) is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Monticello (zip 71655) 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 (zip 71655)
- The average income of a Monticello (zip 71655) resident is $24,443 a year. The US average is $37,638 a year.
- The Median household income of a Monticello (zip 71655) resident is $43,241 a year. The US average is $69,021 a year.