The economy of Monument is fundamentally tied to its remote location and natural resources. The cost of living is generally lower than the national and state averages, though the median income is also proportionately lower.
Major employment sectors are centered around agriculture, local government, and education. The Monument School District is a vital employer for the area. Due to its size, commercial activity is minimal, consisting of a few local businesses that serve the daily needs of residents and the surrounding ranchers. Future economic development is largely focused on maintaining community sustainability, supporting the agricultural base, and modestly increasing eco-tourism and recreation-based visitation.