Monticello, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Monticello, IN Real Estate Data


Monticello Housing Market Information

With 5,322 people, 2,109 houses or apartments, and a median cost of homes of $101,025, 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 75.77% of the city's housing units. Other types of housing that are prevalent in Monticello include large apartment complexes or high rise apartments ( 13.79%), duplexes, homes converted to apartments or other small apartment buildings ( 9.86%).

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 63.39% owning and 36.61% 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 ( 33.94%). A lesser amount of the housing stock also hails from before 1939 ( 23.65%). There's also some housing in Monticello built between 2000 and later ( 7.82%).

Vacant housing appears to be an issue in Monticello. Fully 18.76% 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

Appreciation rates for homes in Monticello have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.05%, which ranks in the top 50% nationwide. This equates to an annual average Monticello house appreciation rate of 0.40%.

NeighborhoodScout's data show that during the latest twelve months, Monticello's appreciation rate, at 4.76%, has been at or slightly above the national average. In the latest quarter, Monticello's appreciation rate has been 2.34%, which annualizes to a rate of 9.71%.

Relative to Indiana, our data show that Monticello's latest annual appreciation rate is lower than 70% 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:
$101,025

Monticello, IN HOME PRICES

Value Range
> $1,048,000 0.0
$786,001 - $1,048,000 0.0
$524,001 - $786,000 2.6
$419,001 - $524,000 2.8
$314,001 - $419,000 0.3
$210,001 - $314,000 3.6
$105,001 - $210,000 35.5
$52,001 - $105,000 50.9
$0 - $52,000 4.4

Low for IN
Low for Nation

Value Relative to Nation Value Relative to State
78.2163143409264 78.7330316742081

Number Of Homes And Apartments:
2,109

Rent & Ownership

 

Average Market Rent:
$865 / per month

Homeownership Rate

Homeownership
Owners 63.39
Renters 36.61
Vacant 18.76

Housing Market Details

 

Age of Homes

AGE OF Monticello HOMES
2000 or Newer 7.8
1970 - 1999 34.6
1940 - 1969 33.9
1939 or Older 23.7

Types of Homes

TYPE OF Monticello HOMES
Single-Family 75.8
Townhomes 0.6
Small Apt. Buildings 9.9
Apt. Complexes 13.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Monticello HOMES
No Bedroom 2.27
1 Bedroom 8.47
2 Bedrooms 30.62
3 Bedrooms 44.45
4 Bedrooms 12.02
5 or more bedrooms 2.16

Monticello Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
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
29.96% 1.55% 8 3
* 10 is highest