Overall
93.5
Below avg
Metro cost profile · 2024 BEA RPP
Monroe, MI
Cost-of-living indicators for Monroe, MI, from Bureau of Economic Analysis Regional Price Parities, overall, goods, services, and rents vs the U.S. average of 100.
- 93.5
- Overall RPP
- #196
- of 387 metros
- 74.6
- Rents RPP
- $107K
- $100K national buys
Monroe ranks #196 of 387 U.S. metros by cost, and its overall price index has fallen 2.7 points since 2008.
- falling since 2008
- similar cost to Homosassa Springs
The verdict
Monroe costs less than 51% of U.S. metros, an overall index of 93.5, 6.5% below the national average, with rents the biggest swing at 74.6.
- bottom 49%
- by overall cost, nationwide
- 93.7
- goods RPP, tradable items
- 93.7
- services RPP, labor-priced
A $100,000 national salary carries the purchasing power of about $106,961 here; matching a $100K lifestyle takes roughly $93,492.
Salary Equivalent
A $100,000 salary at the national average cost of living equals:
$93,492
in Monroe, MI purchasing power
$50,000 nationally
$46,746
$75,000 nationally
$70,119
$125,000 nationally
$116,865
$150,000 nationally
$140,238
$200,000 nationally
$186,984
Use the salary calculator for custom amounts.
Affordability score
C
58/100
How far the median local paycheck goes here, combining income and housing cost
Purchasing power
Not reported
Housing affordability C
58th percentile
A weighted composite (60% purchasing power, 40% housing affordability) percentile-ranked against every other tracked metro; a missing input redistributes its weight rather than deflating the score. Sources: Census ACS 5-Year 2023 (income) + BEA Regional Price Parities 2024 (cost). Vintages differ by design; see methodology.
RPP History (2008-2024)
The cost of living has been trending downward, decreasing by 2.7 points over this period. The largest single-year move was in 2012, when the index dropped 4.1 points from the year before, a bigger swing than the full 2008-2024 change.
Monroe overall RPP, 2008-2024
Every year on record, national average = 100
| Year | Overall |
|---|---|
| 2008 | 96.2 |
| 2009 | 96.4 |
| 2010 | 97.7 |
| 2011 | 98.2 |
| 2012 | 94.1 |
| 2013 | 95.4 |
| 2014 | 96.7 |
| 2015 | 95.6 |
| 2016 | 93.0 |
| 2017 | 93.5 |
| 2018 | 95.3 |
| 2019 | 93.6 |
| 2020 | 93.5 |
| 2021 | 92.0 |
| 2022 | 93.3 |
| 2023 | 93.3 |
| 2024 | 93.5 |
Latest BEA release change
What changed from 2023 to 2024
Monroe's overall RPP rose +0.2 points, from 93.3 in 2023 to 93.5 in 2024. The largest category movement was rents, changing from 77.9 to 74.6. This is a relative change against the national benchmark, not a household's dollar bill.
Housing-led affordability profile
How Monroe's cost structure works
Housing is the strongest affordability offset in Monroe: rents index at 74.6, the component furthest below the national benchmark. That does not make every local expense low, but it is the clearest explanation for the metro's overall RPP of 93.5.
Across all reported metros, the closest component-profile matches are Muskegon-Norton Shores, MI, Dayton-Kettering-Beavercreek, OH, Oshkosh-Neenah, WI. They resemble Monroe across goods, services, and rents together, so they are stronger structure peers than a place selected only because its overall RPP happens to be nearby.
Across 2008-2024, Monroe's overall index has fallen by 2.7 points. This is a relative price-level history, not a prediction or a personal affordability recommendation; pair it with current local wages and housing options before making a decision.
Monroe vs every U.S. metro
Where this metro sits in the national cost distribution
94 Bottom 49% higher than 49% of 387 US metros
Each bar is a band; taller bars hold more US metros. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Bureau of Economic Analysis, Regional Price Parities · 2024
Monroe cost breakdown
BEA RPP by category, 100 = national average
- Rents
Rents
74.6 RPP
- Services
Services
93.7 RPP
- Overall
Overall
93.5 RPP
- Goods
Goods
93.7 RPP
What this shows Monroe's cost structure is housing-led: rents at 74.6 depart furthest from 100, while services sits at 93.7. This is a rent-sensitive profile, not a claim that every local expense moves together.
Goods vs. housing, where Monroe's cost comes from
Metros near Monroe's overall cost, plotted by their goods price (horizontal) and housing price (vertical). Same headline RPP, very different structures.
Read the chart as text
- Monroe (Monroe, this metro): goods RPP 93.7, rents RPP 74.6
- Homosassa Springs: goods RPP 96.2, rents RPP 78.4
- Billings: goods RPP 96, rents RPP 77.4
- Bloomington: goods RPP 93.6, rents RPP 74.7
- Lafayette: goods RPP 94.3, rents RPP 76.4
- Scranton: goods RPP 100.7, rents RPP 67
- Traverse City: goods RPP 93.7, rents RPP 78.1
Price Index Summary
Goods
93.7
Below avg
Services
93.7
Below avg
Rents
74.6
Cheap
Metros with Similar Cost of Living
These metros have an overall RPP closest to Monroe, MI's index of 93.5.
Showing the 6 closest of 387 metro areas tracked nationally.
Decision peers
Metros with a similar cost mix
These metros are closest to Monroe's combined goods, services, and rents profile. They may not have the same overall RPP, but their price pressures are shaped in a similar way.
Muskegon-Norton Shores, MI
Goods 93.7 · Services 92.8 · Rents 74.2 Dayton-Kettering-Beavercreek, OH
Goods 93.6 · Services 95.4 · Rents 72.7 Oshkosh-Neenah, WI
Goods 93.8 · Services 90.6 · Rents 74.4 Eau Claire, WI
Goods 93.8 · Services 90.9 · Rents 72.8 Flint, MI
Goods 93.7 · Services 97.1 · Rents 74.0 Akron, OH
Goods 93.6 · Services 96.4 · Rents 76.8
MI-relative analysis
Goods prices places Monroe, MI near the bottom of MI's metros
Among the 15 MI metros PlainCost tracks with reported goods prices data, Monroe, MI ranks #2 - the 0th percentile within the state. This is a different, narrower cut than the nationwide rank above: it compares Monroe, MI only against its own state's metros, not the full US field.
Goods prices
#2 of 15
0th percentile in MI
Services prices
#13 of 15
13th percentile in MI
Rent prices
#7 of 15
53rd percentile in MI
Ranked by raw value (highest first); a higher rank is not automatically "more expensive is worse", see the national comparison above for direction context. This is a comparison within MI only, not a livability score.
Nationwide metros with similar overall cost or rent prices
Two BEA RPP-derived peer sets for Monroe, MI: nearest metros by overall regional price parity and by rents RPP. These are cross-state neighborhoods, not the in-state metro list below.
Similar overall RPP
Nearest metros by overall regional price parity (93.5 here).
Similar rents RPP
Nearest metros by rents regional price parity (74.6 here).
Other MI Metros
Ann Arbor, MI 100.9 Detroit-Warren-Dearborn, MI 100.3 Grand Rapids-Wyoming-Kentwood, MI 95.5 Lansing-East Lansing, MI 95.0 Kalamazoo-Portage, MI 94.8 Traverse City, MI 93.4
View all MI metros → Cheapest in MI → Most expensive in MI →
Cost of living guides →, cheapest and most-expensive metro rankings, salary negotiation with RPP data, and step-by-step comparison walkthroughs.
Shareable data card
Take this cost snapshot with you
Download the data card or share this exact metro record. The card uses the same BEA-derived values shown above.
Compare to Other Metros
What this means for Monroe
How to read Monroe's cost of living before a move, a job offer, or a budget.
- Budget to local prices, not headline pay, a $100K national salary spends like about $106,961 in Monroe. Salary calculator
- Start with rents: it indexes at 74.6, the largest departure from the national benchmark in this metro's BEA cost mix. Compare it with the other components before treating the overall RPP as a complete household budget.
- Compare Monroe head-to-head against a specific destination before you decide. Compare metros
RPP is BEA's annual price-level benchmark for the data year shown, not a live market quote. Pair it with current local wages and housing costs before deciding.
Frequently Asked Questions
What is the cost of living in Monroe, MI?
Monroe, MI has a Regional Price Parity (RPP) index of 93.5, meaning it is 6.5% less expensive than the national average. Goods are indexed at 93.7, services at 93.7, and rents at 74.6. It ranks #196 out of 387 U.S. metro areas by overall cost.
What salary do I need in Monroe, MI to match $100K nationally?
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $93,492 in Monroe, MI. Conversely, $100K earned in Monroe, MI has the purchasing power of $106,961 at the national average.
How expensive is rent in Monroe, MI?
Rents in Monroe, MI are indexed at 74.6, which is 25.4% below the national average. This makes the area relatively affordable for renters.
Is Monroe, MI getting more expensive?
From 2008 to 2024, Monroe, MI's overall cost index changed by -2.7 points (from 96.2 to 93.5). The cost of living has been declining.
What costs the most in Monroe, MI?
The priciest category in Monroe, MI is goods at 93.7, 6.3% below the national average, still the highest of the three categories. The most affordable category is rents at 74.6, 25.4% below average.
What metros have a similar cost of living to Monroe, MI?
Metros with the most similar overall cost index include Homosassa Springs, Billings, Bloomington. These areas have RPP values within a few points of Monroe, MI's 93.5.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2026-08-11. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.