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These days, finding an affordable place to live in the Montevideo area can be challenging. Home prices in Montevideo are now at a median cost of $234,126, lower than the Georgia average of $324,634.
The average cost of rent is $684/mo in Montevideo, primarily driven by the current value of real estate in the Montevideo area. In Montevideo, 32.62% of households rent, and 50.24% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Montevideo is $4,677 per month. Households that rent pay about 14.63% of their income on rent here. Montevideo’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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