F
76%
Overall NAT. AVG.
16%
Goods & Services NAT. AVG.
217%
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 Monrovia California National
Cost of living176140100
Goods & Services116111100
Groceries112112100
Health care108109100
Housing317196100
Transportation124126100
Utilities112127100

An Overview of Cost of Living in Monrovia, CA

Getting a feel for the cost of living in Monrovia is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Monrovia is 176, which is 76% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

If you prioritize affordability when seeking a new place to live, Monrovia may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Monrovia falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a very significant part of the Monrovia cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 216.9% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

Everyday goods and services make up 33% of the cost of living index and include things like clothing, personal hygiene products and entertainment which are a large portion of your monthly expenditures. Unfortunately, Monrovia goods and services are 16.2% more expensive than the national average, leaving you with less money at the end of the month.

The substantial and relentless rise in grocery prices definitely warrants some attention. Over the past two years, grocery expenses have escalated by more than 10%. Having said that, the situation in Monrovia is even less favorable, with grocery prices here being 12.2% higher than the national average.

Is Monrovia Affordable?

Wondering if Monrovia is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Monrovia, for example, the median home price is 276.1% higher than what folks pay nationally, and monthly rent is 78.7% higher than the usual rates. Plus, income levels matter too, with Monrovia boasting a median household income of $81,990, which is 48.2% higher than the national average.

What Factors can Influence the Cost of Living in Monrovia?

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Monrovia, the housing index comes in at 216.9% higher than the national average.

Where is the Data From?

The cost of living in Monrovia, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Monrovia is 26% higher than the California average
  • The cost of living in Monrovia is 76% higher than the national average
  • Monrovia housing is 217% higher than the national average
  • California general sales tax is 42% higher than the national average
  • California state income tax is 61% lower than the national average

Most Affordable Places to Live in and Around Monrovia

See all the best places to live around Monrovia

Compare Monrovia, CA 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$101,182$8,432$2,361$3,036
      Renters$68,450$5,704$1,597$2,054
      A good way to judge both the affordability of the housing and the cost of living in Monrovia is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Monrovia has a median income of about $101,182 for people who own homes. Based on that number, a maximum of $2,361 should be spent on expenses related to housing. Renters have a slightly different median income, which is $68,450. Based on this average, renters should spend no more than $1,597 on all rental costs if they want to maintain a non-impoverished standard of living.

      California Sales Tax

      State General Sales Tax With Max Surtax
      California 7.25% 10.5%

      California Income Tax

      State Income Tax (Low) Income Tax (High)
      California 1% 13.3%

      Goods & Services

      Item Monrovia National avg. Difference
      Haircut $24.67$24.261.7%
      Beauty Salon $49.33$45.568.3%
      Toothpaste $3.76$3.701.5%
      Shampoo $1.41$1.289.8%
      Movie $13.46$12.1311.0%
      Bowling $19.07$18.006.0%

      Groceries

      Item Monrovia National avg. Difference
      Ground Beef $6.26$5.847.2%
      Fried Chicken $2.08$1.5732.2%
      Milk $4.76$4.671.9%
      Potatoes $4.94$4.930.2%
      Pizza $16.13$12.0933.5%
      Beer $9.60$10.417.8%

      Health Care

      Item Monrovia National avg. Difference
      Optometrist $129.09$125.682.7%
      Doctor $119.86$135.7811.7%
      Dentist $108.07$113.294.6%
      Ibuprofen $10.36$10.652.7%
      Lipitor $505.41$468.607.9%

      Housing

      Item Monrovia National avg. Difference
      Home Price $694,700.00$184,700.00276.1%
      Avg. Mortgage Payment $2,799.02$2,346.6919.3%
      Apartment Rent $1,696.00$949.0078.7%

      Transportation

      Item Monrovia National avg. Difference
      Gasoline $4.47$3.4629.3%
      Tire Balancing $58.33$59.922.6%

      Utilities

      Item Monrovia National avg. Difference
      All Electricity $326.49$193.9968.3%
      Phone $182.78$192.254.9%
      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.
      Vernon, CA24811717.0%
      Florence-Graham, CA64,78713736.5%
      Industry, CA26413333.1%
      Bell Gardens, CA41,77013939.0%
      Huntington Park, CA57,76114040.3%
      Monrovia, CA37,63617676.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Rock Island, IL37,6518812.3%
      Carpentersville, IL37,6181054.9%
      Menomonee Falls, WI37,61111211.5%
      Clinton, MD37,76512828.4%
      Egypt Lake-Leto, FL37,775991.3%
      Monrovia, CA37,63617676.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.