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These days, finding an affordable place to live in the Monticello area can be challenging. Home prices in Monticello are now at a median cost of $351,535, higher than the Minnesota average of $345,793.
The average cost of rent is $1,547/mo in Monticello, primarily driven by the current value of real estate in the Monticello area. In Monticello, 27.68% of households rent, and 34.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Monticello is $7,884 per month. Households that rent pay about 19.63% of their income on rent here. Monticello’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.
Nearby Cities
- Big Lake, MN: equally priced homes
- Albertville, MN: equally priced homes
- Buffalo, MN: equally priced homes
- St. Michael, MN: higher priced homes
- Silver Creek, MN: higher priced homes
- Becker, MN: equally priced homes
- Maple Lake, MN: equally priced homes
- Otsego, MN: higher priced homes
- Hanover, MN: higher priced homes
- Orrock, MN: higher priced homes
Cities with Similar Populations
- Monroe, CT: higher priced homes
- Plymouth, IN: less expensive homes
- Pikeville, KY: less expensive homes
- Pennsauken, NJ: less expensive homes
- Paradise Valley, AZ: higher priced homes
- Mount Pleasant, TX: less expensive homes
- Mount Joy, PA: less expensive homes
- Morton, IL: less expensive homes
- Morris, IL: less expensive homes
- Moraga, CA: higher priced homes
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