Monticello, IL
Population 6,332 · Illinois
About Monticello, IL
Monticello is a small town located in Illinois with a population of 6,332 residents according to the latest US Census Bureau American Community Survey data. The median household income is $88,611 per year, which is 18% above the national median of $75,149. The median age of 42.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Monticello features a median home value of $196,000, which is 20% below the national median of $244,900. This positions Monticello in a moderately priced market relative to the rest of the country. Median monthly rent is $1,030, 11% below the national average of $1,163/month. Of the 2,817 total housing units, 84% are owner-occupied (2,267 units) and 16% are renter-occupied (423 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Monticello shows an unemployment rate of 2.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monticello have an average one-way commute time of 23 minutes.
Education & Demographics
38.4% of Monticello residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.3% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Monticello, IL
Compared to national averages, Monticello has a median household income of $88,611 (18% above the national median of $75,149). Home values average $196,000, which is 20% below the national median. Monthly rent at $1,030 is 11% below the US average of $1,163. Within Illinois, Monticello's income is 18% above the state average of $75,072, and home values are 18% above the state median of $165,779.
Why Live in Monticello, IL?
Monticello offers a strong local economy with a median household income of $88,611, well above the national average, and affordable housing with a median home value of $196,000, below the US average of $244,900, and rent that’s lower than the national average at $1,030/month. Additionally, the city features a strong job market with an unemployment rate of just 2.2%, and a well-educated community where 38.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.1%, better than the national average, and short commute times averaging just 23 minutes.
Monticello has a population of 6,332 with a median age of 42.9 years. Compare Monticello with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Monticello
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Countryside | 6,294 | $78,132 | $330,700 | Compare |
| Johnsburg | 6,374 | $106,827 | $312,200 | Compare |
| Volo | 6,398 | $145,906 | $293,800 | Compare |
| Chillicothe | 6,185 | $62,108 | $128,500 | Compare |
| Braidwood | 6,175 | $83,365 | $205,900 | Compare |
| Pontoon Beach | 6,131 | $59,375 | $137,900 | Compare |
| Geneseo | 6,577 | $65,226 | $196,400 | Compare |
| Mount Zion | 6,076 | $110,786 | $200,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Monticello With Other Cities
Frequently Asked Questions about Monticello
What is the population of Monticello, IL?
The population of Monticello, IL is 6,332 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Monticello?
The median household income in Monticello, IL is $88,611 per year, which is 18% above the national median of $75,149.
What is the median home value in Monticello?
The median home value in Monticello, IL is $196,000, which is 20% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Monticello?
The median monthly rent in Monticello, IL is $1,030, which is 11% below the national average of $1,163/month.
What is the unemployment rate in Monticello?
The unemployment rate in Monticello, IL is 2.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Monticello, IL a good place to live?
Monticello offers above-average incomes, affordable housing, and a strong job market. With a population of 6,332 and a median age of 42.9, the city appeals to a broad range of residents.
How educated is Monticello, IL?
38.4% of residents in Monticello aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Monticello?
Key cost-of-living indicators for Monticello, IL: median home value is $196,000 (20% below national), median rent is $1,030/month, and median household income is $88,611. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Monticello?
The poverty rate in Monticello, IL is 6.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Monticello, IL?
Monticello's population is 1.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.3% Asian, and 3.3% two or more races. 0.9% of residents are foreign-born.