Monmouth, IL, presents a cost of living index of 87, which is 7% below the nationwide average of 100. This indicates that residents can expect to spend less on living expenses in Monmouth compared to the typical U.S. city. The lower housing index, at 75, plays a significant role in this overall reduction, while other categories like groceries and healthcare hover around the average, providing a balanced cost structure for potential job seekers.
The cost of living in Monmouth, IL, presents a blend of affordability and modest expenses when compared to the nationwide average, which is set at 100. Monmouth's housing index stands notably lower at 75, indicating that housing costs are 25% less than the national average. This represents a significant benefit for residents, offering more affordable housing options that can potentially free up funds for other expenses.
Beyond housing, Monmouth's grocery costs are slightly below the national average, indexed at 88. This suggests that grocery expenses are 12% lower than the nationwide benchmark. Additionally, the utilities index at 95 shows that residents spend just 5% more on utilities compared to the average American. Transportation costs in Monmouth are also quite reasonable, at 90, meaning they are 10% less than the national average. Healthcare and miscellaneous costs are only marginally higher, with indices of 92 and 85, respectively. These figures show that overall, Monmouth provides a cost of living that is quite competitive with the national average.
