Monticello, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monticello, AR Real Estate Data


Monticello Housing Market Information

With a population of 9,820, 3,706 total housing units (homes and apartments), and a median house value of $117,934, house prices in Monticello are solidly below the national average.

Single-family detached homes are the single most common housing type in Monticello, accounting for 56.97% of the city's housing units. Other types of housing that are prevalent in Monticello include mobile homes or trailers ( 18.08%), large apartment complexes or high rise apartments ( 16.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.17%).

The most prevalent building size and type in Monticello are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.56% owning and 59.44% renting.

There is a lot of housing in Monticello built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Monticello built between 1940-1969 ( 20.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.79%). There's also some housing in Monticello built before 1939 ( 4.04%).

Vacant housing appears to be an issue in Monticello. Fully 12.53% of the housing stock is classified as vacant. Left unchecked, vacant Monticello homes and apartments can be a drag on the real estate market, holding Monticello real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Monticello Home Appreciation Rates

In the last 10 years, Monticello has experienced some of the highest home appreciation rates of any community in the nation. Monticello real estate appreciated 31.27% over the last ten years, which is an average annual home appreciation rate of 2.76%, putting Monticello in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Monticello definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Monticello's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, Monticello's appreciation rate has been 1.56%, which annualizes to a rate of 6.38%.

Relative to Arkansas, our data show that Monticello's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$117,934

Monticello, AR HOME PRICES

Value Range
> $1,119,000 0.5
$839,001 - $1,119,000 0.0
$560,001 - $839,000 1.2
$447,001 - $560,000 1.4
$336,001 - $447,000 1.1
$224,001 - $336,000 15.3
$112,001 - $224,000 30.3
$56,001 - $112,000 26.0
$0 - $56,000 24.2

High for AR
Low for Nation

Value Relative to Nation Value Relative to State
67.5645605199977 28.5211267605634

Number Of Homes And Apartments:
3,706

Rent & Ownership

 

Average Market Rent:
$753 / per month

Homeownership Rate

Homeownership
Owners 40.56
Renters 59.44
Vacant 12.53

Housing Market Details

 

Age of Homes

AGE OF Monticello HOMES
2000 or Newer 12.8
1970 - 1999 62.4
1940 - 1969 20.8
1939 or Older 4.0

Types of Homes

TYPE OF Monticello HOMES
Single-Family 57.0
Townhomes 0.4
Small Apt. Buildings 8.2
Apt. Complexes 16.3
Mobile Homes 18.1
Other 0.0

Home Size

SIZE OF Monticello HOMES
No Bedroom 3.59
1 Bedroom 9.42
2 Bedrooms 28.77
3 Bedrooms 45.57
4 Bedrooms 10.38
5 or more bedrooms 2.27

Monticello Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
43.02% 2.13% 7 5
* 10 is highest

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Zip Codes in Monticello, AR