Monticello, IL—61856
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Monticello, IL
As of Oct '25, the median home price in Monticello, IL is $268,000, with a year-over-year change of 8.3%. This indicates that home prices in Monticello, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $268,000 | 8.3% |
| Single Family | $269,000 | 8.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $172,000 | 7.5% |
3 Bed | $251,000 | 8.2% |
4 Bed | $376,000 | 6.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Monticello, IL
As of July '25, Rentcast reports the average rent in Monticello, IL is $1,110, with a year-over-year rent change of -30.6%. Per bedroom, the median rent as of July '25 in Monticello, IL is 1-bedrooms: $939, 2-bedrooms: $1,540. The most common rental property sizes in Monticello, IL are 2-bedroom and 1-bedroom, accounting for 43.1% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,110 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $795 | $939 |
| 2 Bed Rent | $1,280 | $1,540 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Monticello, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Monticello, IL is 74. This is a increase of 14.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $320,000 | 10.0% |
Listing Count | 40 | 3.0% |
| Listings as % of Homes | 0.6% | 3.0% |
Days on Market | 74 | 14.0% |
Demographics — Monticello, IL
As of the latest ACS Survey released in 2023, Monticello, IL has a population of 8,110, which has increased by 2.9% over the past 5 years. Monticello, IL is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 39.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,110 | 2.9% |
% Under 18 | 22.3% | -12.2% |
% Seniors | 22.6% | 16.5% |
% WFH | 7.1% | 57.8% |
% w/ College Degree | 39.9% | 5.6% |
As of the latest ACS Survey released in 2023, Monticello, IL is a predominantly white area, with 95.2% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Monticello, IL is black, making up 2.6% of the population. Foreign-born residents account for 0.7% of the population in Monticello, IL, and this percentage has decreased by 53.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 95.2% | -0.6% |
% Black | 2.6% | 333.3% |
% Hispanic | 1.5% | 7.1% |
% Asian | 0.3% | -66.7% |
% Foreign Born | 0.7% | -53.3% |
Mortgage and Risk — Monticello, IL
According to HUD data as of 2023, there were 111 mortgage originations in Monticello, IL, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Monticello, IL. Investor activity is low, as 6.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 111 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Monticello, IL
Monticello, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $145 | $795 | $940 |
| 2 Bedroom | -$160 | $1,280 | $1,120 |
| 3 Bedroom | N/A | N/A | $1,460 |
| 4 Bedroom | N/A | N/A | $1,480 |
Affordability — Monticello, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $268,000 |
| Median Household Income | $94,800 |