Monticello, IN
Population 5,504 · Indiana
About Monticello, IN
Monticello is a small community in Indiana with a population of 5,504 residents. The median household income is $50,138 per year, which is near the national average. The median age in Monticello is 46.9 years.
Housing in Monticello has a median home value of $122,200 and median monthly rent of $860. Of the 2,798 total housing units, the majority are owner-occupied, with 1,576 owner-occupied and 991 renter-occupied units.
The unemployment rate in Monticello is 8.3% and the poverty rate is 12.1%. 11.9% of residents hold a bachelor's degree or higher. The average commute time is 17.8 minutes.
Cost of Living in Monticello, IN
Compared to national averages, Monticello has a median household income of $50,138 (33% below the national median of $75,149). Home values average $122,200, which is 50% below the national median. Monthly rent at $860 is 26% below the US average of $1,163. Within Indiana, Monticello's income is 28% below the state average of $69,330, and home values are 25% below the state median of $163,409.
Why Live in Monticello, IN?
Monticello offers affordable housing with a median home value of $122,200, below the US average of $244,900, and rent that’s lower than the national average at $860/month, and a low poverty rate of 12.1%, better than the national average. Additionally, the city features short commute times averaging just 17.8 minutes.
Potential considerations include median household income ($50,138) that falls below the national average. However, Monticello’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Monticello has a population of 5,504 with a median age of 46.9 years. Compare Monticello with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Monticello
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cicero | 5,441 | $75,278 | $251,000 | Compare |
| Hidden Valley | 5,625 | $106,071 | $267,200 | Compare |
| Rensselaer | 5,369 | $61,648 | $149,100 | Compare |
| New Whiteland | 5,641 | $89,196 | $185,000 | Compare |
| Hartford City | 5,685 | $36,868 | $77,800 | Compare |
| Westville | 5,291 | $59,732 | $152,000 | Compare |
| Bright | 5,735 | $111,140 | $246,600 | Compare |
| Tipton | 5,255 | $64,709 | $148,800 | Compare |
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 Monticello
What is the population of Monticello, IN?
The population of Monticello, IN is 5,504 according to the latest Census data.
What is the median household income in Monticello?
The median household income in Monticello, IN is $50,138 per year.
What is the median home value in Monticello?
The median home value in Monticello, IN is $122,200.
What is the average rent in Monticello?
The median monthly rent in Monticello, IN is $860.
What is the unemployment rate in Monticello?
The unemployment rate in Monticello, IN is 8.3%.