Bed bugs, (Cimex lectularius L.), are difficult to find because of their nocturnal and secretive behavior. In recent years, a number of monitors containing carbon dioxide (CO2), chemical lures, heat, or both, to attract bed bugs have been developed for detecting bed bugs. Ineffective trap design, lack of attraction of chemical lures, high cost of the CO2 delivery system, or insufficient CO release rates are some factors that limited the wide adoption of these monitors. To develop an affordable and effective monitor, we conducted a series of laboratory and field tests. Specifically, we tested a new pitfall trap design, a chemical lure mixture, different CO2 release rates, and a sugar and yeast mixture as CO2 source. Results show the new pitfall trap design was significantly more effective than Climbup insect interceptor, the most effective passive monitor available in the market for bed bugs. The experimental chemical lure mixture increased Climbup insect interceptor catch by 2.2 times. Results exhibit a distinct positive relationship between the CO2 release rates and bed bug trap catches. There were no significant differences between CO2 derived from cylinders and CO2 generated from sugar and yeast mixture in their attractiveness to bed bugs. The findings suggest an effective and affordable monitor can be made incorporating the new pitfall trap design, a sugar and yeast mixture, and a chemical lure.