Lake Monticello, VA
Population 10,820 · Virginia
About Lake Monticello, VA
Lake Monticello is a mid-sized city located in Virginia with a population of 10,820 residents according to the latest US Census Bureau American Community Survey data. The median household income is $101,363 per year, which is 35% above the national median of $75,149. The median age of 40.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lake Monticello features a median home value of $288,300, which is 18% above the national median of $244,900. This positions Lake Monticello in a moderately priced market relative to the rest of the country. Median monthly rent is $2,167, 86% above the national average of $1,163/month. Of the 4,586 total housing units, 97% are owner-occupied (4,100 units) and 3% are renter-occupied (144 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Monticello shows an unemployment rate of 2.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 7.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Monticello have an average one-way commute time of 29.6 minutes.
Education & Demographics
49.8% of Lake Monticello residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.1% White, 1.3% Hispanic or Latino, 2.3% Black or African American, and 2.5% Asian residents, with 2.4% of the population being foreign-born.
Cost of Living in Lake Monticello, VA
Compared to national averages, Lake Monticello has a median household income of $101,363 (35% above the national median of $75,149). Home values average $288,300, which is 18% above the national median. Monthly rent at $2,167 is 86% above the US average of $1,163. Within Virginia, Lake Monticello's income is 15% above the state average of $87,957, and home values are 12% below the state median of $327,514.
Why Live in Lake Monticello, VA?
Lake Monticello offers a strong local economy with a median household income of $101,363, well above the national average, and a strong job market with an unemployment rate of just 2.1%, and a well-educated community where 49.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 7.5%, better than the national average.
Lake Monticello has a population of 10,820 with a median age of 40.7 years. Compare Lake Monticello with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Lake Monticello
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lake Barcroft | 10,678 | $143,796 | $848,200 | Compare |
| Yorkshire | 10,678 | $107,283 | $424,100 | Compare |
| Gloucester Point | 11,159 | $71,589 | $286,500 | Compare |
| Lowes Island | 11,199 | $220,238 | $777,700 | Compare |
| Madison Heights | 10,398 | $62,727 | $181,300 | Compare |
| Triangle | 11,265 | $114,837 | $520,400 | Compare |
| Loudoun Valley Estates | 10,323 | $229,126 | $773,100 | Compare |
| Independent Hill | 10,217 | $204,500 | $646,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake Monticello With Other Cities
Frequently Asked Questions about Lake Monticello
What is the population of Lake Monticello, VA?
The population of Lake Monticello, VA is 10,820 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Virginia.
What is the median household income in Lake Monticello?
The median household income in Lake Monticello, VA is $101,363 per year, which is 35% above the national median of $75,149.
What is the median home value in Lake Monticello?
The median home value in Lake Monticello, VA is $288,300, which is 18% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Monticello?
The median monthly rent in Lake Monticello, VA is $2,167, which is 86% above the national average of $1,163/month.
What is the unemployment rate in Lake Monticello?
The unemployment rate in Lake Monticello, VA is 2.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Monticello, VA a good place to live?
Lake Monticello offers above-average incomes, a competitive housing market, and a strong job market. With a population of 10,820 and a median age of 40.7, the city appeals to a broad range of residents.
How educated is Lake Monticello, VA?
49.8% of residents in Lake 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 Lake Monticello?
Key cost-of-living indicators for Lake Monticello, VA: median home value is $288,300 (18% above national), median rent is $2,167/month, and median household income is $101,363. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Monticello?
The poverty rate in Lake Monticello, VA is 7.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Monticello, VA?
Lake Monticello's population is 2.1% White, 1.3% Hispanic or Latino, 2.3% Black or African American, 2.5% Asian, and 6.5% two or more races. 2.4% of residents are foreign-born.