Monticello, MN
Population 14,607 · Minnesota
About Monticello, MN
Monticello is a mid-sized city located in Minnesota with a population of 14,607 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,563 per year, which is 9% above the national median of $75,149. The median age of 33.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Monticello features a median home value of $298,400, which is 22% above 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 $1,462, 26% above the national average of $1,163/month. Of the 5,565 total housing units, 65% are owner-occupied (3,557 units) and 35% are renter-occupied (1,920 units). The balanced mix of owners and renters indicates a diverse housing market.
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 8.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monticello have an average one-way commute time of 28.6 minutes.
Education & Demographics
23.5% of Monticello 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 3.8% White, 1.1% Hispanic or Latino, 0.3% Black or African American, and 2.4% Asian residents, with 7.3% of the population being foreign-born.
Cost of Living in Monticello, MN
Compared to national averages, Monticello has a median household income of $81,563 (9% above the national median of $75,149). Home values average $298,400, which is 22% above the national median. Monthly rent at $1,462 is 26% above the US average of $1,163. Within Minnesota, Monticello's income is 10% above the state average of $74,221, and home values are 46% above the state median of $204,472.
Why Live in Monticello, MN?
Monticello offers a strong local economy with a median household income of $81,563, well above the national average, and a strong job market with an unemployment rate of just 2.2%, and a low poverty rate of 8.8%, better than the national average.
Monticello has a population of 14,607 with a median age of 33.7 years. Compare Monticello with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Monticello
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Hutchinson | 14,629 | $71,730 | $210,300 | Compare |
| Alexandria | 14,579 | $61,558 | $247,200 | Compare |
| Brainerd | 14,474 | $53,705 | $178,600 | Compare |
| Robbinsdale | 14,318 | $84,719 | $280,400 | Compare |
| North Mankato | 14,212 | $77,571 | $252,700 | Compare |
| Fergus Falls | 14,138 | $50,865 | $173,300 | Compare |
| New Ulm | 14,066 | $63,984 | $192,700 | Compare |
| Marshall | 13,880 | $64,636 | $198,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
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, MN?
The population of Monticello, MN is 14,607 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Minnesota.
What is the median household income in Monticello?
The median household income in Monticello, MN is $81,563 per year, which is 9% above the national median of $75,149.
What is the median home value in Monticello?
The median home value in Monticello, MN is $298,400, which is 22% above 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, MN is $1,462, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Monticello?
The unemployment rate in Monticello, MN 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, MN a good place to live?
Monticello offers above-average incomes, a competitive housing market, and a strong job market. With a population of 14,607 and a median age of 33.7, the city appeals to young professionals and families.
How educated is Monticello, MN?
23.5% of residents in Monticello 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 Monticello?
Key cost-of-living indicators for Monticello, MN: median home value is $298,400 (22% above national), median rent is $1,462/month, and median household income is $81,563. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Monticello?
The poverty rate in Monticello, MN is 8.8%, 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, MN?
Monticello's population is 3.8% White, 1.1% Hispanic or Latino, 0.3% Black or African American, 2.4% Asian, and 1.4% two or more races. 7.3% of residents are foreign-born.