States › Kentucky › Monticello

Is Monticello, KY expensive to live in?

CheapRent takes 19 cents of every $1 people earn here.
🏠 Rent per month (2026)$76356% lower than U.S. average
💵 Families earn per year (2026)$48,481about $4,040/month · 44% lower than U.S. average
🔑 House price$132,40060% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $30,520 a year. That is $15 an hour at a full-time job.

Is rent cheaper than other Kentucky cities?

Yes. Rent here is cheaper than in most of Kentucky. It is number 8 of 87 cities from cheapest to most expensive.

Monticello
$763
Dayton
$1,848
Walton
$1,374
Central City
$696
Bellevue
$2,306
Fort Wright
$1,202
Douglass Hills
$1,416

How much do households earn in Monticello?

Under $25k
27.0%
$25k–50k
29.6%
$50k–100k
22.3%
$100k–150k
9.9%
$150k+
1.2%

Share of households by yearly income. 11.0% of households earn $100,000 or more.

Rent by apartment size in Monticello

SizeMonticelloU.S. average
1 bedroom$520$1,324
2 bedrooms$664$1,509
3 bedrooms$1,007$1,698

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

How expensive is Monticello overall?

Everyday prices in Kentucky overall are 10% below the U.S. average (index 90.2, U.S. = 100).

Housing
64
Goods (food, clothes…)
96
Utilities
75
Other services
97
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 Kentucky figure is shown.

Taxes and bills in Monticello

🏛️ Property tax$735a year · 0.56% of home value · U.S. $3,119
⚡ Electric bill$168a month (typical) · U.S. $156

Life in Monticello

Commute to work22.8 minU.S.: 26.4 min
College degree13.3%U.S.: 35.7%
Own their home53.8%U.S.: 65.2%
Below poverty line30.4%U.S.: 12.5%
Unemployment2%U.S.: 5.2%

Is it cheaper to rent or buy in Monticello?

Renting is cheaper right now: about $156 a month less.

Renting
$763
Owning
$919

Owning assumes a typical $132,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $13,240 for the down payment.

Frequently asked questions

What is the average rent in Monticello, KY?

Renting in Monticello costs a median of about $763 a month in 2026, including utilities. The Kentucky median is $1,175.

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

To keep rent under 30% of income, you need about $30,520 a year, or $15 an hour at a full-time job.

Is Monticello cheap or expensive?

Monticello is rated Cheap: rent takes 18.9% of the typical household income of $48,481. It ranks 8th cheapest of 87 Kentucky cities we track.

How much are property taxes in Monticello?

The median homeowner in Monticello pays $735 a year in property taxes, about 0.56% of the median home value.

Is Monticello more expensive than the national average?

Overall prices in Kentucky are 10% 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 $132,400, about 2.7 times the typical yearly household income.

5,753 people live in Monticello. Numbers are typical (middle) values.