Monterey, IN
Population 270 · Indiana
About Monterey, IN
Monterey is a small community located in Indiana with a population of 270 residents according to the latest US Census Bureau American Community Survey data. The median household income is $36,866 per year, which is 51% below the national median of $75,149. The median age of 46.5 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 Monterey features a median home value of $89,300, which is 64% below the national median of $244,900. This makes Monterey one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $579, 50% below the national average of $1,163/month. Of the 150 total housing units, 44% are owner-occupied (61 units) and 56% are renter-occupied (79 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Monterey shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monterey have an average one-way commute time of 23 minutes.
Education & Demographics
8.2% of Monterey residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 8.9% White, 3.0% Hispanic or Latino, 3.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Monterey Ranks in Indiana
Cost of Living in Monterey, IN
Compared to national averages, Monterey has a median household income of $36,866 (51% below the national median of $75,149). Home values average $89,300, which is 64% below the national median. Monthly rent at $579 is 50% below the US average of $1,163. Within Indiana, Monterey's income is 47% below the state average of $69,330, and home values are 45% below the state median of $163,409.
Why Live in Monterey, IN?
Monterey offers affordable housing with a median home value of $89,300, below the US average of $244,900, and rent that’s lower than the national average at $579/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 6.7%, better than the national average, and short commute times averaging just 23 minutes.
Potential considerations include median household income ($36,866) that falls below the national average. However, Monterey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Monterey has a population of 270 with a median age of 46.5 years. Compare Monterey with other cities to see how it stacks up, or explore all cities in Indiana.
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Cities in Indiana with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Monterey
What is the population of Monterey, IN?
The population of Monterey, IN is 270 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Monterey?
The median household income in Monterey, IN is $36,866 per year, which is 51% below the national median of $75,149.
What is the median home value in Monterey?
The median home value in Monterey, IN is $89,300, which is 64% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Monterey?
The median monthly rent in Monterey, IN is $579, which is 50% below the national average of $1,163/month.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey, IN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Monterey, IN a good place to live?
Monterey offers a moderate cost of living, affordable housing, and a strong job market. With a population of 270 and a median age of 46.5, the city appeals to established professionals and retirees.
How educated is Monterey, IN?
8.2% of residents in Monterey aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Monterey?
Key cost-of-living indicators for Monterey, IN: median home value is $89,300 (64% below national), median rent is $579/month, and median household income is $36,866. The home-value-to-income ratio is 2.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Monterey?
The poverty rate in Monterey, IN is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Monterey, IN?
Monterey's population is 8.9% White, 3.0% Hispanic or Latino, 3.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.