Monticello, Illinois Real Estate & Housing Market

Monticello, IL Listings

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Monticello Housing Information

Index	Monticello	Illinois	National
Median home price	$158,500	$174,800	$184,700
Median rent asked	$913	$925	$949
Avg. people per household	2.4	2.6	2.6
Owner occupied households	80.3%	66.0%	63.6%
Renter occupied households	19.7%	34.0%	36.4%

A general summary of the real estate market in Monticello, IL is listed above. Properties in Monticello, IL average a cost of $158,500, which is 9% lower than the median home price for real estate located in Illinois. This means that the region of Monticello, IL is, on average, more affordable when compared to the remainder of Illinois. Since tenants living in Monticello, IL will pay an average of $913, the median rental cost is 1% lower than in Illinois. 80.3% of people in Monticello, IL own their own homes, and an average of 2.4 people inhabit each property. Monticello, IL has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

Monticello Home Affordability

When starting your search for real estate in Monticello, IL, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in Monticello, IL costs $158,500 while each household has an average income of $76,632. Consequently, the ratio of home price to household income is 2.1x; this ratio is 30% lower than the average in Illinois. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in Monticello, IL. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in Monticello, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Weldon, IL	500	$62,900	66%
De Land, IL	461	$72,100	61%
De Witt, IL	221	$77,000	58%
Bement, IL	1,646	$87,700	53%
Ivesdale, IL	251	$88,100	52%
Monticello, IL	5,609	$158,500	14%

Cities with similar population

City, State	Population	Home Price	National Avg.
Portland, CT	5,607	$222,200	20%
Avra Valley, AZ	5,606	$85,500	54%
Morris Plains, NJ	5,612	$474,900	157%
Exeter, PA	5,605	$123,400	33%
South Apopka, FL	5,613	$98,900	46%
Monticello, IL	5,609	$158,500	14%

Source: The Monticello, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).