Monterey, VA
Population 200 · Virginia
About Monterey, VA
Monterey is a small community located in Virginia with a population of 200 residents according to the latest US Census Bureau American Community Survey data. The median household income is $58,656 per year, which is 22% below the national median of $75,149. The median age of 67.8 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 $143,800, which is 41% 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 $1,006, 13% below the national average of $1,163/month. Of the 171 total housing units, 69% are owner-occupied (96 units) and 31% are renter-occupied (43 units). The high homeownership rate suggests a stable, established residential community.
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 6.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Monterey have an average one-way commute time of 17.4 minutes, one of the shorter commutes in the region.
Education & Demographics
75.3% of Monterey 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
How Monterey Ranks in Virginia
Cost of Living in Monterey, VA
Compared to national averages, Monterey has a median household income of $58,656 (22% below the national median of $75,149). Home values average $143,800, which is 41% below the national median. Monthly rent at $1,006 is 13% below the US average of $1,163. Within Virginia, Monterey's income is 33% below the state average of $87,957, and home values are 56% below the state median of $327,514.
Why Live in Monterey, VA?
Monterey offers affordable housing with a median home value of $143,800, below the US average of $244,900, and rent that’s lower than the national average at $1,006/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a well-educated community where 75.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.0%, better than the national average, and short commute times averaging just 17.4 minutes.
Potential considerations include median household income ($58,656) 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 200 with a median age of 67.8 years. Compare Monterey with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Monterey
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Troutdale | 200 | $34,167 | $99,200 | Compare |
| Baskerville | 202 | $0 | $0 | Compare |
| Bobtown | 196 | $0 | $587,500 | Compare |
| Cats Bridge | 204 | $0 | $110,400 | Compare |
| Fairview Beach | 204 | $97,308 | $0 | Compare |
| Mount Clifton | 196 | $0 | $0 | Compare |
| Belspring | 191 | $58,893 | $324,300 | Compare |
| Surry | 188 | $88,750 | $231,800 | 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 Monterey With Other Cities
Frequently Asked Questions about Monterey
What is the population of Monterey, VA?
The population of Monterey, VA is 200 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Virginia.
What is the median household income in Monterey?
The median household income in Monterey, VA is $58,656 per year, which is 22% below the national median of $75,149.
What is the median home value in Monterey?
The median home value in Monterey, VA is $143,800, which is 41% 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, VA is $1,006, which is 13% below the national average of $1,163/month.
What is the unemployment rate in Monterey?
The unemployment rate in Monterey, VA 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, VA a good place to live?
Monterey offers a moderate cost of living, affordable housing, and a strong job market. With a population of 200 and a median age of 67.8, the city appeals to established professionals and retirees.
How educated is Monterey, VA?
75.3% of residents in Monterey 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 Monterey?
Key cost-of-living indicators for Monterey, VA: median home value is $143,800 (41% below national), median rent is $1,006/month, and median household income is $58,656. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Monterey?
The poverty rate in Monterey, VA is 6.0%, 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, VA?
Monterey's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.0% of residents are foreign-born.