States › Illinois › Monticello

Is Monticello, IL expensive to live in?

CheapRent takes 17 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,52513% lower than U.S. average
💵 Families earn per year (2026)$107,256about $8,938/month · 23% higher than U.S. average
🔑 House price$210,50037% lower than U.S. average

Rent is lower than in 56% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (82.7%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $61,000 a year. That is $29 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

No. Rent here is more expensive than in most of Illinois. It is number 172 of 334 cities from cheapest to most expensive.

Monticello
$1,525
Countryside
$1,305
Elburn
$1,889
Johnsburg
$1,247
Beardstown
$762
Lakemoor
$2,092
Braidwood
$1,155

How much do households earn in Monticello?

Under $25k
7.4%
$25k–50k
11.8%
$50k–100k
41.8%
$100k–150k
22.2%
$150k+
13.0%

Share of households by yearly income. 35.3% of households earn $100,000 or more.

Rent by apartment size in Monticello

SizeMonticelloU.S. average
1 bedroom$2,831$1,324
2 bedrooms$1,420$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Monticello overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
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 Monticello, so the Illinois figure is shown.

Taxes and bills in Monticello

🏛️ Property tax$3,709a year · 1.76% of home value · U.S. $3,119
⚡ Electric bill$194a month (typical) · U.S. $156

Life in Monticello

Commute to work23.2 minU.S.: 26.4 min
College degree40.7%U.S.: 35.7%
Own their home82.7%U.S.: 65.2%
Below poverty line5.7%U.S.: 12.5%
Unemployment0.5%U.S.: 5.2%

Is it cheaper to rent or buy in Monticello?

Buying is cheaper month to month: about $64 a month less than renting.

Renting
$1,525
Owning
$1,461

Owning assumes a typical $210,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $21,050 for the down payment.

Frequently asked questions

What is the average rent in Monticello, IL?

Renting in Monticello costs a median of about $1,525 a month in 2026, including utilities. The Illinois median is $1,517.

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

To keep rent under 30% of income, you need about $61,000 a year, or $29 an hour at a full-time job.

Is Monticello cheap or expensive?

Monticello is rated Cheap: rent takes 17.1% of the typical household income of $107,256. It ranks 172nd cheapest of 334 Illinois cities we track.

How much are property taxes in Monticello?

The median homeowner in Monticello pays $3,709 a year in property taxes, about 1.76% of the median home value.

Is Monticello more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Monticello?

The median home value in Monticello is $210,500, about 2.0 times the typical yearly household income.

6,304 people live in Monticello. Numbers are typical (middle) values.