States › Indiana › Monticello

Is Monticello, IN expensive to live in?

OKRent takes 25 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,20731% lower than U.S. average
💵 Families earn per year (2026)$56,943about $4,745/month · 35% lower than U.S. average
🔑 House price$149,60055% lower than U.S. average

Rent is lower than in 75% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 19.5 minutes.

How much money do I need?

To rent here comfortably, you should earn about $48,280 a year. That is $23 an hour at a full-time job.

Is rent cheaper than other Indiana cities?

Yes. Rent here is cheaper than in most of Indiana. It is number 66 of 132 cities from cheapest to most expensive.

Monticello
$1,207
Cicero
$815
Bright
$961
Rensselaer
$1,174
Pendleton
$1,490
New Whiteland
$1,620
Winchester
$1,001

How much do households earn in Monticello?

Under $25k
18.2%
$25k–50k
35.1%
$50k–100k
36.6%
$100k–150k
5.0%
$150k+
2.2%

Share of households by yearly income. 7.2% of households earn $100,000 or more.

Rent by apartment size in Monticello

SizeMonticelloU.S. average
1 bedroom$637$1,324
2 bedrooms$1,211$1,509
3 bedrooms$1,094$1,698

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

How expensive is Monticello overall?

Everyday prices in Indiana overall are 7% below the U.S. average (index 93.3, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
86
Other services
99
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 Indiana figure is shown.

Taxes and bills in Monticello

🏛️ Property tax$1,074a year · 0.72% of home value · U.S. $3,119
⚡ Electric bill$173a month (typical) · U.S. $156

Life in Monticello

Commute to work19.5 minU.S.: 26.4 min
College degree12.4%U.S.: 35.7%
Own their home64.7%U.S.: 65.2%
Below poverty line11.1%U.S.: 12.5%
Unemployment5.9%U.S.: 5.2%

Is it cheaper to rent or buy in Monticello?

Buying is cheaper month to month: about $169 a month less than renting.

Renting
$1,207
Owning
$1,038

Owning assumes a typical $149,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $14,960 for the down payment.

Frequently asked questions

What is the average rent in Monticello, IN?

Renting in Monticello costs a median of about $1,207 a month in 2026, including utilities. The Indiana median is $1,219.

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

To keep rent under 30% of income, you need about $48,280 a year, or $23 an hour at a full-time job.

Is Monticello cheap or expensive?

Monticello is rated OK: rent takes 25.4% of the typical household income of $56,943. It ranks 66th cheapest of 132 Indiana cities we track.

How much are property taxes in Monticello?

The median homeowner in Monticello pays $1,074 a year in property taxes, about 0.72% of the median home value.

Is Monticello more expensive than the national average?

Overall prices in Indiana are 7% below 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 $149,600, about 2.6 times the typical yearly household income.

5,496 people live in Monticello. Numbers are typical (middle) values.