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
With 6,505 people, 2,887 houses or apartments, and a median cost of homes of $93,528, house prices in Monticello are some of the most affordable in New York as well as the nation.
Large apartment complexes or high rise apartments are the single most common housing type in Monticello, accounting for 36.11% of the village's housing units. Other types of housing that are prevalent in Monticello include single-family detached homes ( 31.35%), duplexes, homes converted to apartments or other small apartment buildings ( 25.01%), and a few row houses and other attached homes ( 5.02%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Monticello is dominated by renter-occupied one, two, or no bedrooms apartments. 75.82% of Monticello's dwellings are rentals.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Monticello's housing was primarily built during this period, from the '40s through the '60s. A full 35.68% of the village's housing hails from this era. Other housing ages represented in Monticello include homes built before 1939 ( 27.70%) and housing constructed between 1970-1999 ( 21.90%). There's also some housing in Monticello built between 2000 and later ( 14.72%).
Vacant housing appears to be an issue in Monticello. Fully 22.43% 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.
Homes have actually lost value in Monticello over the last then years, as home values have seen a decline of 30.73% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Monticello home appreciation rates at -0.56%, which equates to an annual appreciation rate of -2.23%.
Appreciation rates are so strong in Monticello that despite a nationwide downturn in the housing market, Monticello real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monticello appreciation rates continue to be some of the highest in America, at 7.80%, which is higher than appreciation rates in 85.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monticello. Monticello appreciation rates in the latest quarter were at -0.56%, which equates to an annual appreciation rate of -2.23%.
Notably, Monticello's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Monticello's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
|$771,001 - $1,029,000||0.0|
|$514,001 - $771,000||0.7|
|$411,001 - $514,000||0.6|
|$309,001 - $411,000||0.6|
|$206,001 - $309,000||5.9|
|$103,001 - $206,000||34.0|
|$52,001 - $103,000||48.1|
|$0 - $52,000||9.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Monticello HOMES|
|2000 or Newer||14.7|
|1970 - 1999||21.9|
|1940 - 1969||35.7|
|1939 or Older||27.7|
|TYPE OF Monticello HOMES|
|Small Apt. Buildings||25.0|
|SIZE OF Monticello HOMES|
|5 or more bedrooms||1.10|