Monterey, TN
Population 2,751 · Tennessee
About Monterey, TN
Monterey is a small town located in Tennessee with a population of 2,751 residents according to the latest US Census Bureau American Community Survey data. The median household income is $42,402 per year, which is 44% below the national median of $75,149. The median age of 27.1 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 Monterey features a median home value of $130,600, which is 47% 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 $688, 41% below the national average of $1,163/month. Of the 1,030 total housing units, 60% are owner-occupied (513 units) and 40% are renter-occupied (341 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Monterey shows an unemployment rate of 2.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 26.7%, above the national average of 12.4%. Workers in Monterey have an average one-way commute time of 21.6 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 10.0% White, 10.8% Hispanic or Latino, 1.3% Black or African American, and 13.5% Asian residents, with 9.8% of the population being foreign-born.
Cost of Living in Monterey, TN
Compared to national averages, Monterey has a median household income of $42,402 (44% below the national median of $75,149). Home values average $130,600, which is 47% below the national median. Monthly rent at $688 is 41% below the US average of $1,163. Within Tennessee, Monterey's income is 33% below the state average of $62,849, and home values are 39% below the state median of $214,371.
Why Live in Monterey, TN?
Monterey offers affordable housing with a median home value of $130,600, below the US average of $244,900, and rent that’s lower than the national average at $688/month, and a strong job market with an unemployment rate of just 2.0%. Additionally, the city features short commute times averaging just 21.6 minutes.
Potential considerations include median household income ($42,402) 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 2,751 with a median age of 27.1 years. Compare Monterey with other cities to see how it stacks up, or explore all cities in Tennessee.
Similar Cities Near Monterey
Cities in Tennessee with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Woodbury | 2,747 | $51,506 | $195,600 | Compare |
| Westmoreland | 2,735 | $58,750 | $228,400 | Compare |
| Sale Creek | 2,775 | $60,109 | $300,900 | Compare |
| New Tazewell | 2,779 | $55,254 | $162,500 | Compare |
| Jacksboro | 2,780 | $65,587 | $204,000 | Compare |
| Coalfield | 2,782 | $88,026 | $190,600 | Compare |
| Colonial Heights | 2,783 | $76,440 | $193,200 | Compare |
| Blaine | 2,797 | $66,010 | $248,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Tennessee
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Monterey With Other Cities
Frequently Asked Questions about Monterey
What is the population of Monterey, TN?
The population of Monterey, TN is 2,751 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Tennessee.
What is the median household income in Monterey?
The median household income in Monterey, TN is $42,402 per year, which is 44% below the national median of $75,149.
What is the median home value in Monterey?
The median home value in Monterey, TN is $130,600, which is 47% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Monterey?
The median monthly rent in Monterey, TN is $688, which is 41% below the national average of $1,163/month.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey, TN is 2.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Monterey, TN a good place to live?
Monterey offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,751 and a median age of 27.1, the city appeals to young professionals and families.
How educated is Monterey, TN?
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, TN: median home value is $130,600 (47% below national), median rent is $688/month, and median household income is $42,402. The home-value-to-income ratio is 3.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Monterey?
The poverty rate in Monterey, TN is 26.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Monterey, TN?
Monterey's population is 10.0% White, 10.8% Hispanic or Latino, 1.3% Black or African American, 13.5% Asian, and 0.0% two or more races. 9.8% of residents are foreign-born.