Monterey, Virginia is a small town located in Highland County. The population was 244 as of the 2010 census. With a population so small, Monterey offers a peaceful atmosphere with beautiful scenery in the Shenandoah Valley. In terms of rent, two bedroom apartments usually cost about $780 per month compared to the US average of $1,430 per month. Grocery costs also tend to be cheaper in Monterey, with an index of 100 compared to the US index of 100.
This quaint little town is home to a few local businesses such as Monterey Dairy Farm, Miller’s Country Store, and Monterey Building Supply. All three businesses have been in operation for several generations and provide great products and services to their customers. When it comes to the cost of living in this charming rural area, residents enjoy very budget-friendly prices that make living here quite affordable.
Monterey (zip 24465) has an unemployment rate of 4.2%. The US average is 6.0%.
Monterey (zip 24465) has seen the job market decrease by -2.7% over the last year. Future job growth over the next ten years is predicted to be 10.8%, which is lower than the US average of 33.5%.
Tax Rates for Monterey (zip 24465)
- The Sales Tax Rate for Monterey (zip 24465) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Monterey (zip 24465) 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 Monterey (zip 24465)
- The average income of a Monterey (zip 24465) resident is $32,490 a year. The US average is $37,638 a year.
- The Median household income of a Monterey (zip 24465) resident is $54,599 a year. The US average is $69,021 a year.