States › Virginia › Lake Monticello

Is Lake Monticello, VA expensive to live in?

CheapRent takes 17 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,6725% lower than U.S. average
💵 Families earn per year (2026)$115,203about $9,600/month · 32% higher than U.S. average
🔑 House price$325,9002% lower than U.S. average

Rent is higher than in 51% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (95.9%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $66,880 a year. That is $32 an hour at a full-time job.

Is rent cheaper than other Virginia cities?

Yes. Rent here is cheaper than in most of Virginia. It is number 63 of 199 cities from cheapest to most expensive.

Lake Monticello
$1,672
Independent Hill
$2,415
Triangle
$1,934
Lake Barcroft
$2,200
Lowes Island
$2,988
Loudoun Valley Estates
$3,364
Madison Heights
$1,004

How much do households earn in Lake Monticello?

Under $25k
3.5%
$25k–50k
12.1%
$50k–100k
45.5%
$100k–150k
24.5%
$150k+
13.6%

Share of households by yearly income. 38.1% of households earn $100,000 or more.

How expensive is Lake Monticello overall?

Everyday prices in Virginia overall are 1% above the U.S. average (index 101.1, U.S. = 100).

Housing
107
Goods (food, clothes…)
100
Utilities
92
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lake Monticello, so the Virginia figure is shown.

Taxes and bills in Lake Monticello

🏛️ Property tax$2,011a year · 0.62% of home value · U.S. $3,119
⚡ Electric bill$191a month (typical) · U.S. $156

Life in Lake Monticello

Commute to work29.8 minU.S.: 26.4 min
College degree51.8%U.S.: 35.7%
Own their home95.9%U.S.: 65.2%
Below poverty line6.7%U.S.: 12.5%
Unemployment3%U.S.: 5.2%

Is it cheaper to rent or buy in Lake Monticello?

Renting is cheaper right now: about $589 a month less.

Renting
$1,672
Owning
$2,261

Owning assumes a typical $325,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,590 for the down payment.

Frequently asked questions

What is the average rent in Lake Monticello, VA?

Renting in Lake Monticello costs a median of about $1,672 a month in 2026, including utilities. The Virginia median is $2,049.

How much do I need to make to live in Lake Monticello?

To keep rent under 30% of income, you need about $66,880 a year, or $32 an hour at a full-time job.

Is Lake Monticello cheap or expensive?

Lake Monticello is rated Cheap: rent takes 17.4% of the typical household income of $115,203. It ranks 63rd cheapest of 199 Virginia cities we track.

How much are property taxes in Lake Monticello?

The median homeowner in Lake Monticello pays $2,011 a year in property taxes, about 0.62% of the median home value.

Is Lake Monticello more expensive than the national average?

Overall prices in Virginia are 1% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lake Monticello?

The median home value in Lake Monticello is $325,900, about 2.8 times the typical yearly household income.

10,662 people live in Lake Monticello. Numbers are typical (middle) values.