Monticello, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monticello, IN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Monticello Housing Market Information

With 5,322 people, 2,190 houses or apartments, and a median cost of homes of $94,458, 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 73.14% of the city's housing units. Other types of housing that are prevalent in Monticello include large apartment complexes or high rise apartments ( 14.35%), duplexes, homes converted to apartments or other small apartment buildings ( 11.86%).

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 62.24% owning and 37.76% 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 ( 32.96%). A lesser amount of the housing stock also hails from before 1939 ( 22.60%). There's also some housing in Monticello built between 2000 and later ( 8.90%).

Vacant housing appears to be an issue in Monticello. Fully 15.96% 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

Real estate appreciation rates in Monticello's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.38% during the period.

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 2.68%, 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 -1.14%, which equates to an annual appreciation rate of -4.49%.

Notably, Monticello's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Indiana, our data show that Monticello's latest annual appreciation rate is lower than 60% of the other cities and towns in Indiana.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Monticello differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Monticello - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Monticello real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$94,458

Monticello, IN HOME PRICES

Value Range
> $1,027,000 0.0
$770,001 - $1,027,000 0.0
$514,001 - $770,000 2.3
$411,001 - $514,000 0.7
$308,001 - $411,000 2.1
$205,001 - $308,000 3.7
$103,001 - $205,000 31.1
$51,001 - $103,000 55.6
$0 - $51,000 4.4

Low for IN
Very Low for Nation

Value Relative to Nation Value Relative to State
81.1144966600258 79.6380090497738

Number Of Homes And Apartments:
2,190

Monticello Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
23.96% 1.25% 7 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$706 / per month

Homeownership Rate

Homeownership
Owners 62.24
Renters 37.76
Vacant 15.96

Housing Market Details

 

Age of Homes

AGE OF Monticello HOMES
2000 or Newer 8.9
1970 - 1999 35.5
1940 - 1969 33.0
1939 or Older 22.6

Types of Homes

TYPE OF Monticello HOMES
Single-Family 73.1
Townhomes 0.7
Small Apt. Buildings 11.9
Apt. Complexes 14.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Monticello HOMES
No Bedroom 2.34
1 Bedroom 10.55
2 Bedrooms 30.31
3 Bedrooms 45.24
4 Bedrooms 10.09
5 or more bedrooms 1.46