A+
17%
Overall NAT. AVG.
12%
Goods & Services NAT. AVG.
29%
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 West Monroe Louisiana National
Cost of living8391100
Goods & Services8896100
Groceries9495100
Health care10399100
Housing7181100
Transportation8896100
Utilities7884100

An Overview of Cost of Living in West Monroe, LA

Getting a feel for the cost of living in West Monroe 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 West Monroe is 83, which is 17% lower 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.

Everyday essentials such as clothing, personal hygiene products and entertainment all contribute to your overall cost of living. The good news is that in West Monroe, these goods and services come in at 11.9% less than the national average. This means you can enjoy the things you need and love without breaking the bank. With such savings, you have the opportunity to allocate more funds towards your savings or other financial goals, ultimately enhancing your financial well-being.

Is West Monroe Affordable?

Is West Monroe affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in West Monroe, the median home price is 31% lower than the national average and monthly rent prices are 24.3% lower than the typical rates. Additionally, the median income levels play a role in affordability, with West Monroe boasting a median household income of $35,528, 35.8% lower than the national average.

What Factors can Influence the Cost of Living in West Monroe?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In West Monroe, the utilities index registers at 22% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In West Monroe, the groceries index is 6% lower than the national average.

Where is the Data From?

The West Monroe cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in West Monroe is 8% lower than the Louisiana average
  • The cost of living in West Monroe is 17% lower than the national average
  • West Monroe housing is 29% lower than the national average
  • Louisiana general sales tax is 13% lower than the national average
  • Louisiana state income tax is 29% lower than the national average

Most Affordable Places to Live in and Around West Monroe

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Compare West Monroe, LA 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$51,467$4,289$1,201$1,544
      Renters$25,754$2,146$601$773
      A good indicator of the general affordability of housing in West Monroe, LA, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In West Monroe, the median monthly income is $51,467 for those who own their own homes. Under the standard rule, that income level would allow for $1,201 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,754, per the median income in the area. That would allow for renters to spend up to $601 on monthly rental expenses.

      Louisiana Sales Tax

      State General Sales Tax With Max Surtax
      Louisiana 4.45% 11.45%

      Louisiana Income Tax

      State Income Tax (Low) Income Tax (High)
      Louisiana 1.85% 4.25%

      Goods & Services

      Item West Monroe National avg. Difference
      Haircut $23.22$24.264.3%
      Beauty Salon $46.11$45.561.2%
      Toothpaste $3.52$3.704.9%
      Shampoo $1.33$1.283.9%
      Movie $12.98$12.137.0%
      Bowling $20.00$18.0011.1%

      Groceries

      Item West Monroe National avg. Difference
      Ground Beef $6.31$5.848.0%
      Fried Chicken $1.67$1.576.2%
      Milk $4.61$4.671.3%
      Potatoes $5.17$4.934.8%
      Pizza $10.99$12.099.1%
      Beer $9.63$10.417.5%

      Health Care

      Item West Monroe National avg. Difference
      Optometrist $110.11$125.6812.4%
      Doctor $173.89$135.7828.1%
      Dentist $128.33$113.2913.3%
      Ibuprofen $10.39$10.652.5%
      Lipitor $524.60$468.6012.0%

      Housing

      Item West Monroe National avg. Difference
      Home Price $127,500.00$184,700.0031.0%
      Avg. Mortgage Payment $3,477.84$2,346.6948.2%
      Apartment Rent $718.00$949.0024.3%

      Transportation

      Item West Monroe National avg. Difference
      Gasoline $3.15$3.469.0%
      Tire Balancing $56.44$59.925.8%

      Utilities

      Item West Monroe National avg. Difference
      All Electricity $126.52$193.9934.8%
      Phone $186.90$192.252.8%
      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.
      Bawcomville, LA2,1507524.6%
      Richwood, LA4,7787624.4%
      Brownsville, LA3,7187623.7%
      Sterlington, LA2,7538515.2%
      Lakeshore, LA2,8008514.7%
      West Monroe, LA12,4318316.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North St. Paul, MN12,4211032.8%
      Derby, CT12,4201109.7%
      Wilmington, OH12,444919.2%
      Blue Ash, OH12,41711716.7%
      Cheney, WA12,4551088.0%
      West Monroe, LA12,4318316.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.