Monticello, MN—55362
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Monticello, MN
As of Oct '25, the median home price in Monticello, MN is $353,000, with a year-over-year change of 2.4%. This indicates that home prices in Monticello, MN are increasing. According to Zillow, the 1-year price projection is -0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $353,000 | 2.4% |
| Single Family | $354,000 | 2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $288,000 | 2.1% |
3 Bed | $341,000 | 2.7% |
4 Bed | $386,000 | 2.1% |
| 5 Bed | $459,000 | 1.3% |
% of Housing Stock
Rental Trends — Monticello, MN
As of July '25, Rentcast reports the average rent in Monticello, MN is $1,850, with a year-over-year rent change of -3.6%. Per bedroom, the median rent as of July '25 in Monticello, MN is studios: $1,000, 1-bedrooms: $1,300, 2-bedrooms: $1,480, 3-bedrooms: $2,200, 4-bedrooms: $2,160. The most common rental property sizes in Monticello, MN are 2-bedroom and 3-bedroom, accounting for 31.9% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,850 |
| Studio Rent | $1,000 | $1,000 |
| 1 Bed Rent | $1,300 | $1,300 |
| 2 Bed Rent | $1,350 | $1,480 |
| 3 Bed Rent | $2,160 | $2,200 |
| 4 Bed Rent | $2,200 | $2,160 |
% of Rental Stock
Property Listings — Monticello, MN
As of Oct '25, Realtor.com reports that the median days on market for a home in Monticello, MN is 44. This is a increase of 3.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $379,000 | -5.0% |
Listing Count | 80 | 6.0% |
| Listings as % of Homes | 0.7% | 6.0% |
Days on Market | 44 | 3.0% |
Demographics — Monticello, MN
As of the latest ACS Survey released in 2023, Monticello, MN has a population of 20,100, which has increased by 4.0% over the past 5 years. Monticello, MN is a popular place for families, as children make up 26.2% of the population. The area has a moderately educated workforce, with 25.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,100 | 4.0% |
% Under 18 | 26.2% | -10.0% |
% Seniors | 11.7% | -1.7% |
% WFH | 10.8% | 92.9% |
% w/ College Degree | 25.7% | 12.7% |
As of the latest ACS Survey released in 2023, Monticello, MN is a predominantly white area, with 86.1% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Monticello, MN is hispanic, making up 5.3% of the population. Foreign-born residents account for 5.6% of the population in Monticello, MN, and this percentage has increased by 86.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 86.1% | -3.6% |
% Black | 1.3% | 44.4% |
% Hispanic | 5.3% | -3.6% |
% Asian | 2.8% | 133.3% |
% Foreign Born | 5.6% | 86.7% |
Mortgage and Risk — Monticello, MN
According to HUD data as of 2023, there were 354 mortgage originations in Monticello, MN, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Monticello, MN. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 354 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Monticello, MN
As of 2024, the percent of homes in Monticello, MN under the Section 8 program is 4.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Monticello, MN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 84 |
Total Units Section 8 | 84 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $1,300 | $1,340 |
| 2 Bedroom | $280 | $1,350 | $1,630 |
| 3 Bedroom | $10 | $2,160 | $2,170 |
| 4 Bedroom | $230 | $2,200 | $2,430 |
Affordability — Monticello, MN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $353,000 |
| Median Household Income | $92,900 |