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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Monticello, MN Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Monticello, MN Housing Market Trends

With a population of 14,804, 5,548 total housing units (homes and apartments), and a median house value of $347,929, 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 57.55% of the city's housing units. Other types of housing that are prevalent in Monticello include large apartment complexes or high rise apartments ( 22.77%), row houses and other attached homes ( 10.29%), and a few mobile homes or trailers ( 7.47%).

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 64.46% owning and 35.54% 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 2000 and later ( 42.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.53%). There's also some housing in Monticello built before 1939 ( 4.49%).

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 86.71%, which ranks in the top 50% nationwide. This equates to an annual average Monticello house appreciation rate of 6.44%.

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 1.95%, 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 -2.13%, which equates to an annual appreciation rate of -8.26%.

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

Relative to Minnesota, our data show that Monticello's latest annual appreciation rate is lower than 70% of the other cities and towns in Minnesota.

Average Home Values

Median Home Value

$347,929

Monticello, MN Home Prices
> $1,225,000
$919,001 - $1,225,000
$612,001 - $919,000
$490,001 - $612,000
$367,001 - $490,000
$245,001 - $367,000
$122,001 - $245,000
$61,001 - $122,000
$0 - $61,000
0.7%
0.7%
0.1%
0.1%
1.9%
1.9%
7.7%
7.7%
31.2%
31.2%
41.0%
41.0%
8.8%
8.8%
2.8%
2.8%
5.9%
5.9%
0% 100.0%
% of Homes
High

for Minnesota

High

for nation

Number of Homes And Apartments:

5,548

Monticello Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,654 / per month

Homeownership Rate

Owners
Renters
64.5%
64.5%
35.5%
35.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
0.7%
0.7%
99.3%
99.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
42.7%
42.7%
48.2%
48.2%
4.5%
4.5%
4.5%
4.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
57.6%
57.6%
10.3%
10.3%
1.9%
1.9%
22.8%
22.8%
7.5%
7.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
11.0%
11.0%
21.7%
21.7%
34.0%
34.0%
24.6%
24.6%
6.7%
6.7%
0% 100.0%
% of Homes