Cost of Living in Monterey, TN

A+
15%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
35%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Monterey Tennessee National
Cost of living8589100
Goods & Services9894100
Groceries9698100
Health care8488100
Housing6580100
Transportation9089100
Utilities8893100
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Cost Of Living Quick Facts

  • The cost of living in Monterey is 4% lower than the Tennessee average
  • The cost of living in Monterey is 15% lower than the national average
  • Monterey housing is 35% lower than the national average
  • Tennessee general sales tax is 37% higher than the national average
  • Tennessee state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Monterey

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Compare Monterey, TN Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$34,722$2,894$810$1,042
      Renters$26,103$2,175$609$783

      Tennessee Sales Tax

      State General Sales Tax With Max Surtax
      Tennessee 7% 9.75%

      Tennessee Income Tax

      State Income Tax (Low) Income Tax (High)
      Tennessee 0% 0%

      Goods & Services

      Item Monterey National avg. Difference
      Haircut $16.67$24.2631.3%
      Beauty Salon $35.81$45.5621.4%
      Toothpaste $3.68$3.700.6%
      Shampoo $1.08$1.2815.7%
      Movie $11.36$12.136.4%
      Bowling $16.00$18.0011.1%

      Groceries

      Item Monterey National avg. Difference
      Ground Beef $6.08$5.844.1%
      Fried Chicken $1.44$1.578.2%
      Milk $4.58$4.672.0%
      Potatoes $5.16$4.934.6%
      Pizza $10.76$12.0911.0%
      Beer $9.98$10.414.1%

      Health Care

      Item Monterey National avg. Difference
      Optometrist $91.33$125.6827.3%
      Doctor $106.94$135.7821.2%
      Dentist $90.50$113.2920.1%
      Ibuprofen $10.15$10.654.8%
      Lipitor $466.21$468.600.5%

      Housing

      Item Monterey National avg. Difference
      Home Price $122,600.00$184,700.0033.6%
      Avg. Mortgage Payment $1,899.91$2,346.6919.0%
      Apartment Rent $582.00$949.0038.7%

      Transportation

      Item Monterey National avg. Difference
      Gasoline $3.19$3.467.9%
      Tire Balancing $50.61$59.9215.5%

      Utilities

      Item Monterey National avg. Difference
      All Electricity $155.43$193.9919.9%
      Phone $192.18$192.250.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Clarkrange, TN794945.9%
      Grimsley, TN9758217.5%
      Sparta, TN4,9428712.9%
      Pleasant Hill, TN6048812.2%
      Algood, TN4,4168811.8%
      Monterey, TN2,8658514.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Great Neck Estates, NY2,865271171.5%
      Elgin, SC2,8658910.9%
      Ithaca, MI2,8648317.2%
      Cold Spring Harbor, NY2,864237137.3%
      Lido Beach, NY2,86618484.3%
      Monterey, TN2,8658514.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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