Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 2,751, 1,041 total housing units (homes and apartments), and a median house value of $328,537, Monticello real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Monticello, accounting for 81.58% of the city's housing units. Other types of housing that are prevalent in Monticello include duplexes, homes converted to apartments or other small apartment buildings ( 10.80%), mobile homes or trailers ( 6.34%), and a few large apartment complexes or high rise apartments ( 1.29%).
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 54.30% owning and 45.70% 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 before 1939 ( 23.99%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.99%). There's also some housing in Monticello built between 2000 and later ( 14.48%).
Vacant housing appears to be an issue in Monticello. Fully 10.80% 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.
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 116.80% over the last ten years, which is an average annual home appreciation rate of 8.05%, putting Monticello in the top 20% 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.
Over the last year, Monticello appreciation rates have trailed the rest of the nation. In the last twelve months, Monticello's appreciation rate has been 4.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Monticello were at 0.49%, which equates to an annual appreciation rate of 1.99%.
Relative to Georgia, our data show that Monticello's latest annual appreciation rate is lower than 70% of the other cities and towns in Georgia.
$328,537
for Georgia
for nation
1,041
$1,644 / per month