Monument, CO

Very High · 158

Colorado · Population 11,035 · Updated March 2026

$1,947
Median Rent / Month
$114,654
Median Income
$586,400
Median Home Value
$2,148
Owner Costs / Month

Affordability

How far your income goes in Monument

20.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Colorado

State-level tax rates that affect your costs

4.4%
Income Tax (Top Rate)
2.9%
Sales Tax
0.51%
Property Tax Rate

Estimated Annual Costs

$23,364
Annual Rent
$5,045
State Income Tax
$2,991
Property Tax (est.)

Cost of Living Overview

Monument has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 158 (where 100 equals the national median), Monument residents can expect to pay median rent of $1,947/month while earning a median household income of $114,654/year.

The median home value in Monument, CO is $586,400, with typical monthly owner costs around $2,148 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.4% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Colorado has a moderate income tax rate of 4.4%. Combined with a 2.9% sales tax rate and 0.51% effective property tax rate, the overall tax environment is a factor in the total cost of living in Monument.

Frequently Asked Questions

Common questions about living costs in Monument

What is the cost of living in Monument, CO?
The cost of living index in Monument, CO is 158 (US average = 100). Median monthly rent is $1,947, median household income is $114,654/year, and the median home value is $586,400.
Is Monument, CO affordable?
No, Monument is more expensive than the national average with a cost index of 158. The rent-to-income ratio is 20.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Monument, CO?
The median gross rent in Monument, CO is $1,947 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $23,364.
What is the median household income in Monument?
The median household income in Monument, CO is $114,654 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Colorado?
Colorado has a top income tax rate of 4.4%, a sales tax of 2.9%, and an effective property tax rate of 0.51%.