The typical owner-occupied home in Monticello is worth about $112,500, 51% below the Missouri median of $230,300 and 66% below the national median of $332,700. Owners pay a median $900 a year in property taxes, about 0.80% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $93,125 a year, so the median home costs 1.2 times the median income (3.3 times for Missouri). 73% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Monticello at a glance
| Monticello | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $112,500 | $230,300 | $332,700 |
| Median property tax paid per year | $900 | $1,948 | $3,119 |
| Property tax as a share of value | 0.80% | 0.85% | 0.94% |
| Median household income | $93,125 | $70,702 | $80,734 |
| Homes lived in by their owners | 73% | 68% | 65% |
| Owner homes with a mortgage | 53% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,138 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 12.5% | 19.0% | 21.0% |
| Median rent | $1,050 | $1,033 | $1,413 |
| Rent as a share of renters' income | 20.0% | 28.1% | 30.6% |
| Median year homes were built | 1968 | 1978 | 1980 |
| Vacant homes | 4.3% | 11.2% | 10.1% |
| Population | 233 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Monticello
At this week's average 30-year rate of 7.11%, buying the median Monticello home of $112,500 with 20% down costs about $727 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $915, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $31,171 for the 20%-down payment. That payment is 9% of the median Monticello household income of $93,125; at that income and 20% down, the 28% guideline points to a home of about $336,000.
The median rent here is $1,050 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $22,500 |
|---|---|
| Loan amount | $90,000 |
| Principal and interest | $605 |
| Property taxes (0.80% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $727 |
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| Down payment | $3,938 |
|---|---|
| Loan amount | $110,462 |
| Principal and interest | $743 |
| Property taxes (0.80% a year) | $75 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $50 |
| Total per month | $915 |
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Questions about home buying in Monticello
What is the median home value in Monticello?
About $112,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Monticello?
Homeowners pay a median $900 a year, which is about 0.80% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Monticello?
For the median home with 20% down at 7.11%, the payment is about $727 a month. Keeping that under 28% of gross income takes about $31,171 a year.
More about Monticello
- Mortgage Refinance in Monticello
- Debt Relief in Monticello
- Home Equity Loans in Monticello
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data