Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 4,077, 1,790 total housing units (homes and apartments), and a median house value of $192,558, house prices in Monticello are solidly below the national average.
Single-family detached homes are the single most common housing type in Monticello, accounting for 68.74% of the city's housing units. Other types of housing that are prevalent in Monticello include large apartment complexes or high rise apartments ( 16.21%), duplexes, homes converted to apartments or other small apartment buildings ( 10.56%), and a few row houses and other attached homes ( 2.37%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monticello. Owner-occupied housing accounts for 66.35% of Monticello's homes, and 53.33% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Monticello built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Monticello built between 1940-1969 ( 28.08%). A lesser amount of the housing stock also hails from before 1939 ( 26.67%). There's also some housing in Monticello built between 2000 and later ( 14.44%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Monticello, where house values have increased just 44.37%, which is annualized rate of 3.74%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Monticello appreciation rates have trailed the rest of the nation. In the last twelve months, Monticello's appreciation rate has been 3.52%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monticello were at 2.07%, which equates to an annual appreciation rate of 8.56%.
Relative to Iowa, our data show that Monticello's latest annual appreciation rate is lower than 80% of the other cities and towns in Iowa.
$192,558
for Iowa
for nation
1,790
$889 / per month