salaryRent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 15.5 minutes.
How much money do I need?
To rent here comfortably, you should earn about $24,400 a year. That is $12 an hour at a full-time job.
Is rent cheaper than other Illinois cities?
Yes. Rent here is cheaper than in most of Illinois. It is number 3 of 334 cities from cheapest to most expensive.
How much do households earn in Monmouth?
Share of households by yearly income. 12.2% of households earn $100,000 or more.
Rent by apartment size in Monmouth
| Size | Monmouth | U.S. average |
|---|---|---|
| 1 bedroom | $623 | $1,324 |
| 2 bedrooms | $772 | $1,509 |
| 3 bedrooms | $1,021 | $1,698 |
| 4 bedrooms | $2,218 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Monmouth overall?
Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Monmouth, so the Illinois figure is shown.
Taxes and bills in Monmouth
Life in Monmouth
Is it cheaper to rent or buy in Monmouth?
About the same. Renting and owning cost within $8 of each other each month.
Owning assumes a typical $86,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $8,680 for the down payment.
Frequently asked questions
What is the average rent in Monmouth, IL?
Renting in Monmouth costs a median of about $610 a month in 2026, including utilities. The Illinois median is $1,517.
How much do I need to make to live in Monmouth?
To keep rent under 30% of income, you need about $24,400 a year, or $12 an hour at a full-time job.
Is Monmouth cheap or expensive?
Monmouth is rated Cheap: rent takes 11.1% of the typical household income of $65,937. It ranks 3rd cheapest of 334 Illinois cities we track.
How much are property taxes in Monmouth?
The median homeowner in Monmouth pays $1,753 a year in property taxes, about 2.02% of the median home value.
Is Monmouth more expensive than the national average?
Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Monmouth?
The median home value in Monmouth is $86,800, about 1.3 times the typical yearly household income.
8,581 people live in Monmouth. Numbers are typical (middle) values.