States › Minnesota › Monticello

Is Monticello, MN expensive to live in?

OKRent takes 21 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,47416% lower than U.S. average
💵 Families earn per year (2026)$85,777about $7,148/month · 1% lower than U.S. average
🔑 House price$323,7003% lower than U.S. average

Rent is lower than in 59% of U.S. cities. A typical house costs about 3.8 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $58,960 a year. That is $28 an hour at a full-time job.

Is rent cheaper than other Minnesota cities?

Yes. Rent here is cheaper than in most of Minnesota. It is number 69 of 150 cities from cheapest to most expensive.

Monticello
$1,474
Alexandria
$1,156
Hutchinson
$1,127
Brainerd
$1,271
Robbinsdale
$2,252
North Mankato
$1,168
Fergus Falls
$1,056

How much do households earn in Monticello?

Under $25k
7.3%
$25k–50k
21.4%
$50k–100k
40.3%
$100k–150k
22.9%
$150k+
5.8%

Share of households by yearly income. 28.7% of households earn $100,000 or more.

Rent by apartment size in Monticello

SizeMonticelloU.S. average
Studio$1,350$1,338
1 bedroom$1,156$1,324
2 bedrooms$1,391$1,509
3 bedrooms$2,336$1,698
4 bedrooms$2,360$2,098

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

How expensive is Monticello overall?

Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).

Housing
91
Goods (food, clothes…)
101
Utilities
91
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 Minnesota figure is shown.

Taxes and bills in Monticello

🏛️ Property tax$2,773a year · 0.86% of home value · U.S. $3,119
⚡ Electric bill$120a month (typical) · U.S. $156

Life in Monticello

Commute to work26.1 minU.S.: 26.4 min
College degree23.5%U.S.: 35.7%
Own their home64.7%U.S.: 65.2%
Below poverty line6.7%U.S.: 12.5%
Unemployment2.9%U.S.: 5.2%

Is it cheaper to rent or buy in Monticello?

Renting is cheaper right now: about $772 a month less.

Renting
$1,474
Owning
$2,246

Owning assumes a typical $323,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $32,370 for the down payment.

Frequently asked questions

What is the average rent in Monticello, MN?

Renting in Monticello costs a median of about $1,474 a month in 2026, including utilities. The Minnesota median is $1,525.

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

To keep rent under 30% of income, you need about $58,960 a year, or $28 an hour at a full-time job.

Is Monticello cheap or expensive?

Monticello is rated OK: rent takes 20.6% of the typical household income of $85,777. It ranks 69th cheapest of 150 Minnesota cities we track.

How much are property taxes in Monticello?

The median homeowner in Monticello pays $2,773 a year in property taxes, about 0.86% of the median home value.

Is Monticello more expensive than the national average?

Overall prices in Minnesota are 1% 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 $323,700, about 3.8 times the typical yearly household income.

14,858 people live in Monticello. Numbers are typical (middle) values.